Bed Bath & Beyond is making a comeback.
The acquainted blue-and-white web site was formally relaunched Tuesday.
After the home-goods retailer filed for chapter in April and closed down its bodily shops nationwide, on-line retailer Overstock bought its model identify, web site and associated mental property in a $21.5 million deal.
The “new” Bed Bath & Beyond may have an internet presence however no bodily shops, in accordance with a spokesperson for Overstock.com
OSTK,
Overstock Chief Executive Jonathan Johnson will intention to capitalize on Bed Bath & Beyond’s sturdy model, however deliver Overstock’s personal online-retail expertise to the desk.
“Through this rebranding, we’re breathing new life into Bed Bath & Beyond, positioning it as an asset-light, e-commerce retailer with an expanded home-furnishings and furniture assortment,” Johnson mentioned this week. “Think of it as Bed Bath & a much bigger, better Beyond.”
“Overstock has a great business model with a name that does not reflect its focus on home,” Johnson added. “Bed Bath & Beyond is a much-loved and well-known consumer brand, which had an outdated business model that needed modernizing.”
Are you — or have been you — a fan of Bed Bath & Beyond? Here’s what it’s essential know in regards to the relaunch:
Has Overstock rebranded itself as Bed Bath & Beyond?
Yes. The on-line retailer accomplished its rebranding this week and can quickly retire the identify “Overstock.” It launched the web site “BedBathandBeyond.com” within the U.S. and “BedBathandBeyond.ca” in Canada, which replaces Overstock.com.
Before the rebranding, Overstock.com had been experiencing buyer erosion, retail analysts mentioned. “In some ways, this has always been an issue for Overstock,” Neil Saunders, managing director of knowledge evaluation at consulting firm GlobalData, mentioned in an announcement.
Overstock, he mentioned, “isn’t the most visible home retailer out there and is often overlooked by shoppers thinking about making homeware purchases.” Consumers weren’t clear about what Overstock sells, partly because of the lack of specificity in its identify, he added.
What will the brand new Bed Bath & Beyond promote?
The all-new Bed Bath & Beyond’s items will intently resemble the form of objects it bought previously — kitchen, mattress and bath-related objects, however Overstock mentioned it is going to additionally add extra residence space rugs, home-improvement merchandise and lighting.
Bath Bed & Beyond’s private-label manufacturers have been additionally a part of Overstock’s acquisition, and the retailer “will likely utilize those brands in the future, but exact plans haven’t been determined,” an Overstock.com spokesperson mentioned.
Bath Bed & Beyond’s non-public manufacturers embody bedding-and-linen model Nestwell; a furnishings and decor model tailor-made to children, Marmalade; and Studio 3B, a model for modern furnishings and modern-home accents.
If I’m a former loyalty member of Bed Bath & Beyond, will I have the ability to use my factors and rewards on the new retailer?
When Bed Bath & Beyond filed for chapter final yr, it additionally introduced the tip of its beloved 20%-off coupons and loyalty packages. But Overstock mentioned this week that it’s going to give former Welcome Rewards members as much as $50 in factors in an up to date program — Welcome Rewards by Club O, the brand new model of Overstock’s former loyalty program.
Former Club O members from Overstock.com are mechanically enrolled with their present factors and accounts, the corporate’s consultant mentioned. But former Bed Bath & Beyond Welcome Rewards members might want to activate their new accounts with a view to declare the rewards.
“We recognize that when the old program ended, many loyalty customers lost rewards and points. Members who were active in the program over the past year should look out for an email inviting them to learn more over the next several weeks,” an Overstock.com spokesman mentioned.
Will Overstock change its ticker image to the previous BBBY?
Overstock.com Inc won’t change its ticker image right now, the corporate mentioned. It will proceed to commerce beneath OSTK. Shares of the now-bankrupt Bed Bath & Beyond Inc.
BBBYQ,
now commerce within the over-the-counter market — the place securities are not traded on main exchanges — and proceed to draw the eye of retail traders.
Source web site: www.marketwatch.com
