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REV buys what was left of the firm to relaunch it

RadioShack was founded in 1921 and became a popular retailer in the 1980s and 1990s for tech staples.

Retail Ecommerce Ventures (REV), a startup founded in 2019, has completed the purchase of the brand.

REV says it will shortly relaunch the RadioShack website and turn it into an online store.

Radio Shack It had filed for bankruptcy at least twice recently, so its situation was not promising and it has finally had to revive itself by being bought by another company that plans to relaunch the large retailer as a digital-focused brand.

In retail, various companies have fallen: NPC International, JC Penney, the luxury chain store Neiman Marcus, J. Crew, Lord & Taylor, Men’s Wearhouse, Brooks Brothers, New York & Company, Sur La Table, Pier 1 Imports and Lucky Brand, among others.

RadioShack was founded in 1921 and became a retail staple in the 1980s and 1990s for anyone looking to purchase tech staples.

Radio components, electronic toys and finally telephones could be purchased. His fortune dwindled dramatically as online shopping came in and the business went bankrupt twice in the past five years. RadioShack still licenses its name to third-party “licensed” stores and sells brand name products in some locations.

Retail Ecommerce Ventures (REV), a startup founded in 2019 that has been acquiring brands from other dying retail giants including Pier 1, Modell’s Sporting Goods, Dressbarn and more, has finally finalized the purchase of RadioShack..

REV reported the move and further said that the website of their recent purchase has “strong potential for sales and existing sales,” so this focus is where they will take the company, as a safe international brand for sales. via e-commerce.

He added that with other companies he has bought in a similar situation, he has successfully turned around transforming them as online brands and to show the figures they share from The Wall Street Journal, which reported that Dressbarn doubled its revenue between the first and second quarters. 2020.

REV says that it will shortly relaunch the RadioShack website, so there will be a space for its most loyal customers online, with its more traditional products that have transcended these years, but the truth is that very little of the original brand remains and their plans.

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This same year the purchase conversion ratio of online stores only reached 16 percent of visits to digital stores and only 4 percent in the case of medium-sized stores. In some regions it is due to the huge mistakes that have been made in deliveries, as in the case of Mexico.

However, by 2024, the 53 percent of the revenues from the retail sector will go to stores that have a digital offering integrated into their business model. If stricter containment measures are applied, this figure could go up to 56 percent, as consumers will continue to buy online rather than in stores, according to the last study from Google and Euromonitor.