Overstock.com, the online retailer, has acquired the intellectual property assets of Bed & Bath & Beyond for $21.5 million. As part of the deal, Overstock.com will rebrand itself as Bed & Bath & Beyond, which recently declared bankruptcy. This move has been well-received by investors, as Overstock.com’s shares rose by 20%. It’s important to note that the acquisition does not include Bed Bath & Beyond stores or the Buybuy Baby chain.
The rebranding will take place in Canada next month, followed by a relaunch of the company’s website and mobile app as Bed Bath & Beyond in the US. Visitors to ovestock.com will be redirected to bedbathandbeyond.com.
Overstock.com’s CEO, Jonathan Johnson, expressed excitement about the synergy created by combining the operational model of Overstock.com with the iconic Bed Bath & Beyond brand. He believes that this rebranding will provide consumers with an even better shopping experience.
Bed Bath & Beyond, known for its extensive range of home goods, filed for bankruptcy protection in April after struggling with declining sales for several years.
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