as Overstock.com Rebrands itself as Bed Bath & Beyond In an effort to boost sales, company executives want to distance the new brand from its namesake failures, CEO Jonathan Johnson said in an interview with CBS MoneyWatch.
After purchasing the Bed Bath & Beyond range and other assets in a June bankruptcy auctionOverstock plans to relaunch the US version of its website under the Bed Bath & Beyond banner in “late July or early August,” according to Johnson. The “revamped” website will debut along with an updated mobile app and loyalty program.
“We didn’t want any confusion as to what our beautiful location would be opposite the garage sale being in [Bed Bath & Beyond] For now, Johnson said. “I don’t want it to contaminate us.”
Company executives began eyeing the acquisition of the Bed Bath & Beyond brand three years ago, citing similarities between the company’s customer bases. “We loved the brand, we hated the business model,” Johnson said. Like every [other] Their digital game was there, but it wasn’t an A-plus.”
Johnson said Overstock’s leaders were also enjoying the idea of rebranding amid concerns that their business model was “burdened by a brand that doesn’t define who we are.”
Not liquidated
“We are a furniture and home furnishing company, and we seem to be a filter, and that was a headwind for consumers and… [our] Suppliers “.
The acquisition could boost Overstock’s flagging sales. The company’s stock is up nearly 45% since it won the assets of Bed Bath & Beyond on June 22.
Overstock purchase does not include remaining brick-and-mortar Bed Bath & Beyond locations. those stores It will close this summera development Johnson said he welcomed.
There are things on the ground [and there are] “Like hotel boxes of things,” he said. there [are] Not even great deals.
Johnson said the new Bed Bath & Beyond will also be less reliant on coupons, a change for the chain’s many loyal customers.
“Our coupons don’t need to be big because our base prices are already higher than Bed Bath & Beyond,” Johnson said. who promised Good deals on the revamped site.
Beyond Wedding Records
Company executives also plan to revive the college and wedding records that once helped Bed Bath & Beyond attract a loyal following.
Johnson quipped, “We’re familiar enough to know one would put one’s wedding invitation, registered at Overstock.” “But we’re going to set up a Wedding Registry so people can be registered for Bed Bath and Beyond.”
bed bath behind Filed bankruptcy In April after years of declining sales.
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