Business

The investment firm bought RadioShack to revitalize it as an e-commerce site

The acquisition comes as online shopping and the demand for affordable computers and electronics exploded during the COVID-19 pandemic.

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This article has been translated from our English edition.

The investment firm bought RadioShack to revitalize it as an e-commerce site
The investment firm bought RadioShack to revitalize it as an e-commerce site

This story originally appeared on PC Mag

An investment firm bought the brand Radio room in an attempt to revive it as a major e-commerce platform.

Retail Ecommerce Ventures specializes in rebooting once well-known but troubled brands like Pier 1 and DressBarn as ecommerce oriented retailers. On Thursday, the company announced that it had acquired the RadioShack brands and related assets from its previous owner. General Wireless.

“RadioShack brands have been resonating with consumers for almost 100 years. We are confident that the relaunch of RadioShack as a leading e-commerce company will increase awareness of this cult brand internationally,” said Alex Mehr, CEO of Retail E-Commerce Venture , in the advertising.

RadioShack was founded in 1921 and was once a major electronics supplier in the United States. However, in the 2000s it saw steady decline due to competition from larger retailers and later online shopping from companies like the company Amazon. The brand then went through two bankruptcies and closed most of its stores in 2017 to focus primarily on e-commerce. However, efforts to date have failed to make RadioShack.com a major online shopping destination. The website’s home page currently contains portable radios, batteries and headsets, as well as hand sanitizers and hand thermometers.

However, Retail Ecommerce Ventures continues to see sales potential at RadioShack and notes that the brand also operates in Canada, India, Australia and Europe. But perhaps most importantly, online shopping exploded during the COVID-19 pandemic, which resulted in millions of people working and studying at home. At the same time, the demand for affordable laptops and tablets has exploded in recent months.

According to Retail Ecommerce Ventures, RadioShack.com will soon be relaunched with a more modern and exciting design.

For more information, see Golden Age of TRS-80: A Review of RadioShack Computers Y. The golden age of Radio Shack Toys.

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