Current:Home > FinanceOverstock.com to rebrand as Bed Bath & Beyond after purchasing its assets-DB Wealth Institute B2 Expert Reviews
Overstock.com to rebrand as Bed Bath & Beyond after purchasing its assets
View Date:2024-12-24 09:12:14
Overstock.com is rebranding as Bed Bath & Beyond after purchasing the big-box retailer's intellectual property assets at a bankruptcy auction last week.
The e-commerce giant bid $21.5 million for Bed Bath & Beyond's website and domain names, trademarks, patents, customer database and loyalty program data, among other assets under the company's banner. Its marriage with the once-popular retailer will enable both companies to offer customers a wide selection of home furnishings, kitchen, bedding and bath-related products through a single online storefront, Overstock CEO Jonathan Johnson said.
"The combination of our winning asset-light business model and the high awareness and loyalty of the Bed Bath & Beyond brand will improve the customer experience and position the company for accelerated market share growth," Johnson said in a statement.
The company is also "considering whether and how to reinstate expired Welcome Rewards points," although it will not accept expired Bed Bath & Beyond coupons, Johnson told CBS MoneyWatch. Still, he promised good bargains on the revamped website.
"I expect customers will find better deals on our site than they would have found previously at Bed Bath & Beyond with a coupon," Johnson said.
Overstock will re-launch Bed Bath & Beyond's domains in both Canada and the U.S., with Bedbathandbeyond.ca going live within the next week, the company said. A "refreshed" version of the U.S. mobile app, loyalty program and website, bedbathandbeyond.com, will debut a few weeks later.
Overstock did not purchase Bed Bath & Beyond's brick-and-mortar stores, which will close this summer as planned.
A bankruptcy court approved Overstock's bid for Bed Bath & Beyond's assets at a hearing earlier this week.
Bed Bath & Beyond filed for bankruptcy in April after struggling to adapt to a surge in online shopping. Before filing for bankruptcy, the company had experienced years of declining sales.
- In:
- Bankruptcy
- Bed Bath & Beyond
- Chapter 11 Bankruptcy
veryGood! (8)
Related
- My Little Pony finally hits the Toy Hall of Fame, alongside Phase 10 and Transformers
- Country Singer Rory Feek Marries Daughter's Teacher 8 Years After Death of Wife Joey
- Adidas Apologizes for Bella Hadid Ad Campaign Referencing 1972 Munich Olympics
- Bruce Springsteen Is Officially a Billionaire
- Will Aaron Rodgers retire? Jets QB tells reporters he plans to play in 2025
- Christina Hall's HGTV Show Moving Forward Without Josh Hall Amid Breakup
- Snag SPANX’s Viral Leggings and More Cute Styles on Mega Discount at Nordstrom’s Anniversary Sale 2024
- Jon Gosselin Accuses Ex Kate Gosselin of Parent Alienation Amid Kids' Estrangement
- In an AP interview, the next Los Angeles DA says he’ll go after low-level nonviolent crimes
- FedEx, UPS warn deliveries may be delayed due to Microsoft outage
Ranking
- The Cowboys, claiming to be 'all in' prior to Dak Prescott's injury, are in a rare spot: Irrelevance
- NASA plans for space station's demise with new SpaceX Deorbit Vehicle
- Kim Kardashian and Kanye West’s Son Diagnosed With Rare Skin Condition
- Taylor Swift's Alleged Stalker, Accused of Threatening Travis Kelce, Arrested at Germany Eras Tour
- NFL Week 10 injury report: Live updates on active, inactive players for Sunday's games
- Two-time Pro Bowl safety Eddie Jackson agrees to one-year deal with Ravens
- Georgia Gov. Brian Kemp journeys to Italy in eighth overseas trip
- Trump says he'll end the inflation nightmare. Economists say Trumponomics could drive up prices.
Recommendation
-
The 15 quickest pickup trucks MotorTrend has ever tested
-
Back-to-school shopping 2024 sales tax holidays: See which 17 states offer them.
-
Sonya Massey called police for help. A responding deputy shot her in the face.
-
In a California gold rush town, some Black families are fighting for land taken from their ancestors
-
Get Your Home Holiday-Ready & Decluttered With These Storage Solutions Starting at $14
-
Shannen Doherty's divorce from Kurt Iswarienko was finalized one day before her death
-
How Max Meisel Is Changing the Comedy Game
-
Nominations for National Guard leaders languish, triggering concerns as top officers retire