Circuit City is going to try again to make a comeback. Two New York retail veterans are hoping to revive the well-known brand, which hasn’t operated retail locations since 2008.
The Circuit City stores shuttered in 2008, but the tech chain tried to make an online-only comeback with Systemax’s TigerDirect. That didn’t work either, but Ronny Shmoel and Albert Liniado told tech industry website TWICE.com that they have an ambitious new idea that will make Circuit City Corp. a serious player.
Last year, Shmoel acquired the brand name from Systemax. Business Development VP Liniado plans to relaunch the company with retail stores, web sales, licensed kiosks, mobile shops, franchises and even Circuit City-branded products. The first store would open in the Dallas market before circuitcity.com relaunches.
“We want to bring profitability back into retail,” Liniado told TWICE.
Shmoel wants to have 50-100 corporate-owned stores opened by next year, with 100-200 franchised locations. The brand would market itself directly to millennials and will carry many of the tech gadgets they use.
According to EndGadget, Circuit City also has the support of companies like Canon, Intel and Sony and held meetings with them during the Consumer Electronics Show earlier this month.