Fort Worth's RadioShack not saying yet how many stores new Asian venture could develop
Here’s more on today's RadioShack-Cybermart announcement from Eric Bruner, a RadioShack spokesman:
Is RadioShack saying how many stores may be developed by the joint venture with Cybermart? Bruner: “Not at this time. We’re focused on testing the business model in Shanghai this year. We’re in the early stages, and the pace of future expansions will be based iin part on available real estate and some other factors.”
How large will the stores be? “The typical footprint will be smaller than the U.S. RadioShack, less than 1,000 square feet vs. an average (U.S.) RadioShack of about 2,500 square feet.”
What products will be highlighted in the Asian stores, and what will you see less of compared to the U.S. RadioShacks? The chain “will focus on everyday needs and consumer elec tronics. (They) will feature a key emphasis on wireless and mobility., accessories, music and entertainment, computing, power and accessories and other devices.” The stores will offer services such as installation; smartphone setup, app installation and synching; mobile phone repairs; and “education services” that include tutorials on how to use various devices.
What will the stores be called? “Stores will be named and branded with a Chinese version of RadioShack that includes the Circle R brand and the name RadioShack, as well Chinese language characters (that) will be translated...Smart Super Hero and Wise Knight.” The signage will also carry the “Computers, Communications and Consumer Electroncs”tagline.
How will the venture’s results (49 percent owned by RadioShack) be booked by RadioShack? “They will appear on the income statement under the category of ‘minority interest in joint ventures.’ We’re not expecting a meaningful impact in 2012. In these early stages, we’ll be focused on testing the business model in Shanghai.”