Bed Bath & Beyond has made a comeback in the retail market with its online relaunch. Overstock.com, which acquired the bankrupt retail chain’s intellectual property assets for $21.5 million, officially revived the iconic brand as BedBathandBeyond.com in the United States. The revamped e-commerce site now offers 600,000 new products, many of which are brand names in the kitchen, bed, and bath categories, and at lower prices.
CEO Jonathan Johnson sees great potential in combining the strengths of Bed Bath & Beyond and Overstock to create an improved asset-light, e-commerce retailer with an expanded home furnishing and furniture assortment. Suppliers are eager to do business with the company, and Johnson believes that bad management may have impacted the finances of the company but not its brand value.
Customers often associated Overstock with its previous business model as a liquidator, hindering its growth. By merging the Bed Bath & Beyond name with Overstock’s modern business model, the company aims to overcome these misconceptions and attract a wider customer base. The recent launch of Bed Bath & Beyond in Canada has already shown positive results, with increased revenue for all product lines, particularly in the kitchen, bed, and bath categories.
Despite the familiar branding, BedBathandBeyond.com will also include a growing assortment of furniture and other home product categories such as area rugs, lighting, decor, and home improvement. The company expects to offer better prices compared to its previous model, thanks to its asset-light approach.
Jonathan Johnson expressed his love for the Bed Bath & Beyond brand and assured loyal customers that they would seamlessly transition to the new platform. The company aims to leverage the brand’s well-loved reputation and cater to customer preferences as they continue to build and expand their online retail presence.
Overall, with its successful relaunch, Bed Bath & Beyond hopes to reclaim its position in the retail market as a beloved and trusted brand, delivering an enhanced shopping experience to customers across the United States.