Cork-based PCH and US retailer RadioShack have launched RadioShack Labs, a collaboration supporting product development and providing a path to market.
As part of the relationship, RadioShack intends to offer select start-ups from PCH’s Access product development division special retail terms, and give access to up to 2,000 RadioShack stores and preferred positioning on radioshack.com.
“It’s long been our belief that innovation and collaboration go hand-in-hand. As we transform RadioShack, it’s important that we simplify and streamline the channels that encourage inventors and entrepreneurs to join us in the retail environment,” said Joe Magnacca, CEO, RadioShack. “We see so many exciting consumer products coming from start-ups and we want these differentiated products in our stores. Traditionally, big retailing requires big inventory, but we can improve our supply chain and be a more nimble partner.”
Liam Casey, founder and CEO of PCH, said: “Every day we talk to start-ups and see new products. But the retail model, which demands large capital in the channel, doesn’t typically work for start-ups and this hurts innovation… [With this partnership] we looked at removing the barriers that prevent unique products from getting on to shelves, and as a result created a partnership that supports product innovation, while freeing up capital that would otherwise be tied up in the inventory channel.”
PCH’s product design and engineering firm Lime Lab and hardware start-up incubator Highway1 are based in San Francisco, California. In January 2014, PCH acquired ShopLocket, an e-commerce platform for entrepreneurs.
PCH also has manufacturing, packing and fulfillment operations in China and retail distribution channels through its subsidiary, TNS Distribution, in Dublin.
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