LUCKNOW (CoinChapter.com): Overstock officially relaunched bankrupt retail chain Bed Bath & Beyond on Aug 1 in the United States after acquiring its intellectual property assets for $21.5 million in June.
Successful Transition and Rebranding of Bed Bath & Beyond
Late in June, Overstock.com had already announced its plan to rebrand as Bed & Bath & Beyond.
The change was implemented in Canada on June 29. However, the date for the US relaunch was not disclosed at the time. The successful transition in Canada has paved the way for the company’s highly anticipated US return.
Overstock.com’s CEO, Jonathan Johnson, expressed his satisfaction with the seamless relaunch in Canada. He discussed this during a recent phone interview with The Associated Press. Since its bid for the retail giant became public last month, Overstock.com has been hard at work. The company has added approximately 600,000 bed and bath items to its online inventory.
According to Johnson, Customers exploring the new website will find up to $50 of loyalty reward points reinstated from their previous Bed Bath & Beyond accounts.
Additionally, they can enjoy many other enticing benefits, such as a generous 20% discount, seamless transfer of membership, and the retention of all existing rewards from Club O, Overstock’s former loyalty program, into the new Welcome Rewards loyalty program.
Anyone downloading the new Bed Bath & Beyond mobile app will receive an exclusive 25% off on their initial purchases. This offer serves as an added incentive.
The Decision on Corporate Name
Despite the successful relaunch and rebranding efforts, Johnson indicated that the company has yet to decide on a new corporate name.
The move to change its name from Overstock.com was necessary. It aimed to eliminate confusion among customers and suppliers who previously associated the company with liquidation sales.
In response to why Overstock is embracing the Bed Bath & Beyond name, Johnson explained, “People view Overstock as liquidation, which is what we were 25 years ago when we started, but that’s not what we’ve been for the past two decades.”
He further revealed, “We’ve looked at Bed Bath and Beyond jealously for several years, we really liked their name, and it was an iconic brand people loved.”
Overstock.com began 1999 as a liquidator before transforming into a broad merchandise retailer in 2004. In 2021, the company fine-tuned its strategy. It shifted its focus to furniture and home decor while phasing out items like clothing.
A Promising Step for Bed Bath & Beyond
Both the company and its loyal customer base see the revival of Bed Bath & Beyond as an online retailer. Overstock.com, with e-commerce expertise, aims to enhance the shopping experience for bed and bath enthusiasts across the United States.
The company is restocking its virtual shelves with new bed and bath products. Consumers eagerly await the exciting developments for Bed Bath & Beyond. With its return to retail, the company seems poised to reclaim its position as a go-to destination for everything related to bedding, home decor, and beyond.
