Bed Bath & Beyond is Back! Overstock.com Rebrands with Exclusive Deals
• Overstock.com has successfully acquired the intellectual property assets of bankrupt retail chain Bed Bath & Beyond for $21.5 million in June and relaunched it as an online retailer on Aug 1 in the US.
• Customers exploring the new website can find up to $50 of loyalty reward points reinstated from their previous Bed Bath & Beyond accounts, as well as enjoy other benefits like a 20% discount and 25% off on mobile app purchases.
• Despite the successful relaunch, Overstock has yet to decide on a new corporate name to eliminate confusion among customers and suppliers associated with its liquidation sales past.
Overstock Relaunches Bed Bath & Beyond
Overstock officially relaunched bankrupt retail chain Bed Bath & Beyond on Aug 1 in the United States after acquiring its intellectual property assets for $21.5 million in June. The successful transition in Canada had paved the way for Overstock’s highly anticipated US return.
Rewards and Benefits For Customers
Customers exploring the new website will find up to $50 of loyalty reward points reinstated from their previous Bed Bath & Beyond accounts, as well as many other enticing benefits such as a generous 20% discount, seamless transfer of membership, and retention of all existing rewards from Club O into the new Welcome Rewards loyalty program. Anyone downloading the new Bed Bath & Beyond mobile app also receives an exclusive 25% off on their initial purchases.
Rebranding Efforts by Overstock
In response to why Overstock is embracing the Bed Bath & Beyond name, CEO Jonathan Johnson explained that people view Overstock as liquidation which is not what they’ve been for two decades now; they’ve looked at Bed Bath and Beyond jealously since then because it was an iconic brand people loved. Since its bid became public last month, Overstock has added approximately 600,000 bed and bath items to its online inventory in order to complete this rebranding effort successfully.
Decision On Corporate Name Yet To Be Made
Despite all these efforts, Johnson indicated that the company still hasn’t decided on a new corporate name yet – a move necessary to eliminate confusion among customers and suppliers associated with its liquidation sales past..
In conclusion, Overstock’s acquisition of Bed Bath & Beyond’s intellectual property assets for $21.5 million has allowed them to relaunch it successfully in both Canada and US while offering customers various rewards and benefits through their website or mobile app useage – although they have yet to decide on a new corporate name going forward.