Retail Ecommerce Ventures has acquired the brand and related assets for nostalgic electronic retailer RadioShack.
REV aims to revive the brand as an e-commerce portal that will support existing stores carrying RadioShack products. The new brand owner plans to launch a modern RadioShack website at RadioShack.com soon. REV’s deal comes ahead of RadioShack’s 100th anniversary next year.
“The RadioShack brands have resonated with consumers for nearly 100 years, and we are confident RadioShack’s relaunch as a cutting-edge ecommerce company will amplify the awareness of this iconic brand internationally,” says Alex Mehr, chief executive officer, REV.
REV’s acquisition comes on the heels of its deal for the Pier 1 Imports brand last July. REV also owns brands including Modell’s Sporting Goods, Franklin Mint and Linens N Things.
“We were impressed with both the strong existing sales and sales potential of the RadioShack.com and related websites across the globe, including the U.S., Canada, India, Australia, Europe and China,” adds Tai Lopez, executive chairman, REV. “Our approach builds off the existing strength of extraordinary brands such as RadioShack and supports our mission of transforming these beloved entities into Internet-first companies.”
RadioShack launched in 1921 as a retailer for amateur ham radio equipment. The retailer grew over time to sell various electronics items and components. In 2015, the company filed Chapter 11 bankruptcy after experiencing struggling sales and shop closures.