Overstock.com has successfully relaunched the Bed Bath & Beyond domain online in the US on Tuesday. Overstock.com acquired the intellectual property assets of Bed Bath & Beyond for $21.5 million in June, after the retail chain filed for bankruptcy earlier this year. The transition to the Bed Bath & Beyond name was already made in Canada on June 29. The CEO of Overstock.com, Jonathan Johnson, stated in a recent interview that the relaunch in Canada went smoothly. Since the announcement of the acquisition, Overstock.com has added approximately 600,000 bed and bath items to its inventory.
The company has not yet made a decision on a corporate name. The decision to change the name to Bed Bath & Beyond was due to the confusion caused by the Overstock.com name. Customers and suppliers often mistook it for a liquidator, which was its original business focus when it started in 1999. However, Overstock.com evolved into a general merchandise retailer in 2004 and specifically focused on furniture and home decor in 2021. The Washington Post reports that both the Overstock.com and Bed Bath & Beyond logos will be displayed on the Bed Bath & Beyond website for the next few months. Axios notes that this relaunch is one of the fastest-ever relaunches of a bankrupt brand.
The iconic Bed Bath & Beyond 20% off coupons will no longer be available. However, the company formerly known as Overstock plans to offer its own promotions, including significant discounts for new loyalty program members or app downloaders. According to the Post, the prices of the new Bed Bath & Beyond are lower than the original ones. For customers who had unused Welcome Reward points, the company will reinstate up to $50 of those points and offer a free yearlong membership to encourage their return. CNN reports that there are currently no plans for physical stores to reopen.
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