After closing its physical stores following bankruptcy, Bed Bath & Beyond has reemerged as an online-only brand under new owner Overstock.com.
According to Overstock CEO Jonathan Johnson, the company will redirect its visitors to BedBathandBeyond.com, which offers a variety of home products, including bathroom, bedroom, and kitchen items, and an expanded selection of furnishings.
“Overstock has a great business model with a name that does not reflect its focus on home,” Johnson said. “Bed Bath & Beyond is a much-loved and well-known consumer brand, which had an outdated business model that needed modernizing.”
Overstock purchased Bed Bath & Beyond for $21.5 million in June through a bankruptcy auction, excluding the physical stores that closed this summer. The revitalized Bed Bath & Beyond has also reinstated shoppers’ earned loyalty points and updated its mobile app.
“We expect that over time, the relaunch of the Bed Bath & Beyond brand, growing mobile app adoption, and enhanced loyalty offerings will help improve this metric,” he added.
Company officials have indicated that the Overstock brand will gradually disappear over time after the renaming of its website.
