Two entrepreneurs who have been collecting fallen retail brands during the coronavirus pandemic are taking over the reins of RadioShack, acquiring the nearly century-old gadget seller’s name and online business.
Retail Ecommerce Ventures (REV) bought the rights to the RadioShack brand in the U.S., Canada, India, Australia, Europe and China, along with related websites, for an undisclosed price recently.
The deal marks REV’s latest purchase of a retail brand. Earlier this year, the company bought the e-commerce business of Pier 1 Imports and the trademark assets of Modell’s Sporting Goods out of bankruptcy.
REV also acquired RadioShack’s patents and private label brands, such as Enercell batteries and Powerhorn speakers, as well as the trademarked slogan “You’ve Got Questions, We’ve Got Answers.” The purchase allows REV to expand into the electronics category for the first time.
Founded in 1921, RadioShack filed for bankruptcy twice between 2015 and 2017, left in the dust by other retailers like Best Buy and by Amazon.com.
Radio Shack now operates primarily as an online retailer but still has a network of roughly 400 stores owned by independent dealers. It also has a store-within-a-store concept called RadioShack Express inside about 80 locations of HobbyTown, REV said.
Messrs. Mehr and Lopez, both entrepreneurs, said they hope to revitalize RadioShack by relaunching the website in time for the company’s 100th anniversary as a marketplace for gadgets, computers and other electronics.
The company will continue to support the existing dealer stores carrying its products and will get a small sales commission from them. RadioShack will also continue to sell through its digital store on Amazon.com.
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