Overstock.com is revamping using Bed Bath & Beyond’s name – Gist It

Overstock.com is revamping using Bed Bath & Beyond’s name

Overstock.com is rebranding its website under the Bed Bath & Beyond name after purchasing the bankrupt company’s intellectual property.

The Deal: In June, Overstock.com acquired Bed Bath & Beyond’s intellectual property for $21.5 million, including the website, mobile app, and name.
* Online visitors to Overstock will now be redirected to BedBathAndBeyond.com.
* However, physical assets such as store leases, inventory, and warehousing were not included in the deal.

Reason Behind the Rebranding: CEO Jonathan Johnson stated that the Overstock name doesn’t reflect their focus on home goods, and that Bed Bath & Beyond is a more well-known brand within this sector.
* Johnson also clarified that Overstock is not a liquidator, which is a common misconception from customers and suppliers.

Changes and Continuity: The Bed Bath & Beyond website will have a familiar feel due to shared suppliers with Overstock, and more than 600,000 new items have been added.
* Bed Bath & Beyond’s reward program customers will see their loyalty points reinstated on the new platform.
* Notably, Bed Bath & Beyond’s characteristic blue coupons will no longer be valid.

Future Plans: The new website will have back-to-school deals for next year and will start selling pre-packaged dorm supplies.
* Customers can expect to sign up for registries starting in 2024.

View original article on NPR

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August 2, 2023

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