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After years of decline, and a brush with death in February when it declared bankruptcy, RadioShack has re-entered the market with a brand-new strategy.
“This is not a rebirth of the former RadioShack,” Michael Tatelman, chief marketing officer of the company, told the Dallas Business Journal. “We are a separate, new company that acquired some assets from the now-defunct estate that was RadioShack. It did not re-emerge from bankruptcy.”
That determination to make it clear that this is not your father’s RadioShack has resulted in a branding makeover that might resonate with customers. General Wireless, an affiliate of New York hedge fund Standard General that bought the Fort Worth-based company, is reinventing the company as an electronics convenience store, mostly in partnership with Sprint. Around 1,400 of RadioShack’s 1,700 storefronts are co-branded with the wireless provider.
With its “community convenience store” strategy, the 94-year-old retailer hopes to grab some of the tech market share from heavyweights like Amazon and Best Buy. The company is gambling that it really is easier to run out to buy batteries or an iPhone case than to order online. Whether that's a smart gamble remains to be seen. [DBJ]
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