If you think about RadioShack’s name, it could clearly use an update.
It made sense when the company was founded in 1921, but radio isn’t the medium it used to be, and who wants to buy their electronics from a shack?
Add to that the fact that the company reported $112 million in losses last quarter, and the inevitable chatter around rebranding started to ramp up.
Despite it all, RadioShack CEO Joe Magnacca is sticking with the name. In an interview with The Huffington Post
, he said, “When I first came on board, I wasn't sure the name was going to remain. But I didn't have a preconceived view that it wouldn't. I just wanted to make sure it had relevance."
The name’s not changing. The reason? Brand recognition—sort of.
"Not many people hate us ... we're just not relevant to them," Magnacca told HuffPo
He says the company will be going after its core customer again: the DIY tinkerer.
In 2009, the company did attempt to drop the “Radio” from its name
, at least in its advertising. The name “The Shack” never really caught on, however, and the campaign was dropped.
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This summer, RadioShack introduced a new logo
that continues to prominently feature the letter “R.”