RadioShack has been in business for over a century. During this time, the company has faced many issues. In the last decade, company officials have found it very hard to compete in the market. As a result, they were faced to declare bankruptcy twice. This happened in 2015 and again in 2017. The Texas based retailer has found itself facing stiff competition from other retailers and unable to compete with them. At the same time, company officials are also well aware of the fact that the brand still resonates in the public mind. People are well aware of the brand and often have fond memories of purchasing items from it.
An organization known as Retail Ecommerce Ventures acquired the company late in 2020. The company’s leaders see a great deal of potential in the fact that the brand is well known to the public. This makes it easier to establish a brand name in the mind of the public. Tai Lopez and Alex Mehr lead Retail Ecommerce Ventures. They hope to push new horizons for RadioShack in the new year. The two are well known in the cryptocurrency world. They have established many ventures including Atlas Universal Store of Value or USV. The two are confident they can move RadioShack in a brand new and entirely confident place where the company can engage in much needed rebranding.
A close look at the website reveals the company’s plans to engage in the process of “bringing cryptocurrency to the mainstream.” Officials at the company state they are hoping to create a new protocol that is all about the use of decentralized currency that allows everyone to participate in this form of currency.
Mehr stated to investors and consumers alike, “we are confident RadioShack’s relaunch as a cutting-edge e-commerce company will amplify the awareness of this iconic brand internationally.”
Those who watch the industry closely are expecting the company to launch their own radio token as a form of cryptocurrency. They are also expected to create a decentralized brand with a finance area that will enable them to reach out to existing clients and find new ones. This is part of their plans to be a part of the blockchain tech world. Just as the company once aimed to help promote the adaptation of radios over a century ago, officials here hope to promote more people to engage in the process of using this form of currency.
They are of the belief that such a possibility offers lots of possibilities to reach out and bring in clients via the use of fees as a result of trading this kind of currency.
Officials at the company also see a gap between those who work with this form of currency on a daily basis and those who do not. They are also hoping to set up RadioShack in a way that will allow them to serve as an exchange in the manner of other exchanges that are relatively well known in the community of crypto traders such as Coinbase and Binance.
A New Partnership
Part of the process of forming the kind of vision that company officials hope will lead to a brighter future is the right partnership. This means working very closely with the experts in trading at Atlas USV. Officials see this partnership is a long term strategy that should bring value to both companies in the long term. Their goal is to be a company that offers long term rewards and a chance to participate in a new form of currency that may help the company flourish and overcome previous problems. As the brand is well known, this will help them reach out to many in the business world.