Betting On A Radio Shack Revival: E-Commerce Investors Grab Another Retro Brand

SourceForbes
SectorRetail
CountryMiddle east

Radio Shack, the vintage electronics brand that turns 100 next year, has a new majority owner, the ... [+] e-commerce rescue team at Retail Ecommerce Ventures (REV) (Photo by Drew Angerer/Getty Images) Getty Images Retail Ecommerce Ventures (REV), the retail acquisition company that bought Pier 1 and Modell’s Sporting Goods out of bankruptcy, and snapped up the Dressbarn brand after it liquidated, has a new rescue mission: Radio Shack. REV announced the deal today, making Radio Shack the seventh brand it has bought in less than two years. REV’s strategy is to buy struggling, but well-known retail names it believes can benefit from their e-commerce expertise.

In the world of online shopping, according to REV founders Tai Lopez and Alex Mehr, the brand you’ve heard of beats the one you’ve never heard of every time. “It’s a trusted brand and we buy brands because of the trust,” Lopez said. Why makes Radio Shack trusted? “First of all what creates trust is to be known,” Lopez said. So even though Radio Shack has been mocked as the place where old cassette tape players, transistor radios, and personal CD players went to ...read more...