At the risk of dating, I’m old enough to remember the days when Best Buy had a formidable competitor among supermarket chains: Circuit City.
A cross between an appliance store (at least until it stopped selling appliances) and a comprehensive electronics retailer, Circuit City was the place to be for geeky, tech-obsessed people like me.
The kids were happy playing video game demos for hours. while her parents were shopping. For a new dishwasher.
Additionally, P. Diddy once held a record release party at New York’s Circuit City. If you know more!
It’s been nearly two decades since Circuit City’s Sears took over and nearly 15 years since the chain went bankrupt and closed its brick-and-mortar stores.
This week, Delaware-based Circuit City filed with the SEC and said it wants to raise $25 million.
Circuit City — owned since 2016 by Ronnie Shmuel, a self-described “salesman” and president of Circuit City — did not respond to a request for comment.
But the biggest fundraiser is Series A, which they announced in a press release last November.
If the money is found, what does Circuit City plan to do with it? Unfortunately, the physical store is not open.
Partnerships:
Instead, Shmuel is considering a “strategic partnership” with an unnamed real estate company (perhaps including JCPenny) to launch a “Powered by Circuit City” referral program that will direct customers through this. . Wale helps you discover and buy a variety of electronics. “
The idea is that Circuit City brands often give brick-and-mortar and online retailers access to private-label products, their online trading platform (or what’s left of it), and their community.
Shmuel founded it for marketers to “leverage their skills without relying on their own experience and internal resources.”
“This collaboration between iconic brands is a partnership that demonstrates Circuit City’s commitment to bringing innovation and AI-powered solutions to the masses,” he said in a press release.
We have seen this plan before. A few years ago, Samsung and Microsoft, like Apple, launched hundreds of “microstores” inside Best Buy stores. While not a total failure, Mini Stores aren’t perfect, at least not for Samsung.
Well, I don’t think Circuit City has the same reputation as Samsung. From where I sit, it looks like an uphill battle.
At the time of publication, Internet analytics site Similarweb ranked this 842nd in terms of traffic in the consumer electronics category.
But hey, the company’s reaction is unknown.
Perhaps this will follow the lead of another brand from that magazine’s youth, Toys “R” Us, and re-emerge as a force to be reckoned with.
Or maybe he takes the money he doesn’t and slowly assimilates into the culture.
We will soon find out. They plans to launch its online franchise program and “local options” later this year and in 2024.