Retail veterans Ronny Shmoel and Albert Liniado are bringing back Circuit City, once the number one big-box tech chain in the marketplace before filing for bankruptcy in 2008. Their ambitious plan includes retail outlets, web sales, branded and private-label products, licensed kiosks, mobile shops and franchise opportunities, all under the iconic red and white banner. The first store is expected to open in June, most likely in the Dallas market, and the relaunch of circuitycity.com is expected to happen at approximately the same time.
We want to bring profitability back into retail,” said Liniado, Vice President of Business Development. The stores will range from 2,000 to 4,000 square feet and the product mix will be targeted directly at millennials. According to Shmoel, CEO of the enterprise, they expect to have 50 to 100 corporate-owned stores up and running by the end of the year and eventually an additional 100 to 200 franchised locations.
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