RadioShack comeback in the works with new investors targeting online shoppers
The company's new owners believe an online RadioShack will be competitive and successful with a familiar name.
Six years after the electronics store filed for bankruptcy, two entrepreneur investors are hoping to make the familiar brand RadioShack successful again with an online marketplace.
Alex Mehr and Tai Lopez are the two investors who have also acquired other U.S. retail companies this year that have gone bankrupt including Pier 1, Dressbarn and Modell’s. They are hoping to bring back RadioShack in a competitive online design.
“We bought the raw material to build a big business,” Mehr said. “Brand means trust. And the brand is very, very strong. I have quantifiable data that the brand is very strong.”
About 400 RadioShack stores remain open across the country and operate independently from the parent company.
With Amazon allowing shoppers to conveniently buy everything in one place for a reasonable price, a solely online RadioShack may be difficult to attract shoppers. Mehr doesn't see Amazon as a competitor and instead sees the major corporation as a carrier to help sell RadioShack products.
“It’s like a big mall with a lot of traffic,” Mehr said. “So I think of Amazon as a partner, and I’ve done that in other brands, too. So this is yet another distribution channel for us.”
The new owners plan to have the website ready for business by the end of the month.
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