Bed Bath & Beyond Brand Was Saved By Overstock.Com At The Last Minute

(CTN News) – Please do not throw away those Bed Bath & Beyond coupons just yet.

There has been a recent announcement that Overstock.com, one of the largest online furniture and home furnishings retailers in the world, has acquired the intellectual property assets of the defunct company, which filed for bankruptcy in April and closed all 360 of its brick-and-mortar stores, to reopen.

In a press release that announced the $21.5 million deal on June 28, Overstock CEO Jonathan Johnson said in the statement that the acquisition will represent a significant and transformative step for the company.

There is no doubt that Bed Bath & Beyond is one of the most iconic consumer brands in the home retail sector.

Having a winning asset-light business model combined with the high awareness and loyalty of the Bed Bath & Beyond brand will improve the customer experience and position the Company for accelerated market share growth as a result.”

As stated in the press release, Overstock plans to re-launch the Bed Bath & Beyond domain in Canada this week, followed by the relaunch of a refreshed website, a mobile app, and a loyalty program in the U.S. in the coming weeks.

It is expected that new and existing customers of Overstock and Bed Bath & Beyond will be able to shop online through a single online shopping destination — bedbathandbeyond.ca in Canada, and bedbathandbeyond.com in the United States – that Overstock promises will offer “millions of high-quality home furnishings products at affordable price points for every budget” through its new online shopping destination.

As part of the rebranding, Overstock is also reintroducing its Club O loyalty program under the name of “Welcome Rewards,” which will continue to offer 5% rewards dollars for all purchases that can be fully redeemed for future purchases.

As a result of combining the strengths of the Overstock operational model and the Bed Bath & Beyond brand, Johnson believes that the synergy will be very powerful.

“I’m looking forward to the day when consumers will be able to experience the new Bed Bath and Beyond stores.”

Overstock noted that among the Bed Bath & Beyond assets acquired were the website and domain names, trademarks, trade names, patents, customer data, loyalty program information, and other brand assets associated with the Bed Bath & Beyond banner.

The transaction excludes any assets that are related to the brick-and-mortar business of Bed Bath & Beyond Inc., including store leases, inventory, warehousing and logistics infrastructure to support the brick-and-mortar business.

This transaction excludes from the transaction the buybuy Baby and Harmon banners and their assets that were formerly operated by Bed Bath & Beyond Inc.

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