Overstock.com Inc. has accomplished its rebrand with the launch of the “new” Bed Bath & Beyond web site — bedbathandbeyond.com — within the U.S. on Tuesday.
“Through this rebranding, we’re breathing new life into Bed Bath & Beyond, positioning it as an asset-light, ecommerce retailer with an expanded home furnishings and furniture assortment,” stated Overstock Chief Executive Jonathan Johnson. “Think of it as Bed Bath & a much bigger, better Beyond.”
Overstock’s inventory
OSTK,
rose 1.6% to $37.06 on Tuesday, its highest worth since May 2022. The inventory has soared 54%, for the reason that firm introduced on June 28 that it acquired bankrupt retailer Bed Bath & Beyond’s web site, loyalty-program information and logos and patents for $21.5 million.
“Overstock has a great business model with a name that does not reflect its focus on home,” CEO Johnson stated. “Bed Bath & Beyond is a much-loved and well-known consumer brand, which had an outdated business model that needed modernizing.”
He stated the brand new web site will supply the kitchen, mattress and bathtub merchandise the earlier Bed Bath & Beyond web site did, however will add a rising assortment of furnishings and different residence merchandise, together with space rugs, lighting and residential enchancment.
There can even be thousands and thousands of merchandise out there beneath a “Smart Value” banner.
As a part of the launch, the brand new web site will supply a 25% welcome coupon, will reinstate loyalty factors, coupons and free membership to the brand new “Welcome Rewards” program for members of the previous Bed Bath & Beyond loyalty program.
Members of Overstock’s former loyalty program, “Club O,” will obtain a 20% off coupon and switch of membership.
“If you liked the Bed Bath & Beyond coupons of the past, you will love our better pricing, special promotions, broader assortment, and the improved customer experience on the website and mobile app,” Johnson stated.
Overstock’s rebranding was anticipated because it acquired the Bed Bath & Beyond model in June. Johnson had stated then that it deliberate to create a “single online shopping destination,” and stated the Overstock title would “begin to sunset” within the months forward.
Shares of Overstock, which had a market capitalization of $1.68 billion at Tuesday’s shut, have soared 85.2% over the previous three months whereas the S&P 500 index
SPX,
has gained 11.1%.
Source web site: www.marketwatch.com
