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New York-based CNN reports on Overstock.com’s rebranding as BedBathandBeyond.com

New York
CNN
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A month after Overstock.com announced it bought Bed Bath & BeyondÔÇÖs brand out of bankruptcy, the company has dumped its name and morphed its website and app.

On Tuesday, OverstockÔÇÖs website relaunched as BedBathandBeyond.com, a move that merges OverstockÔÇÖs online business model and merchandise categories with popular branded products favored by Bed Bath & Beyond shoppers.

ÔÇ£All of OverstockÔÇÖs categories will transition over and new products will also come in,ÔÇØ Jonathan Johnson, CEO of Overstock, said in an interview with CNN.

ÔÇ£Since this deal was announced, we have added over 600,000 new products to the site,ÔÇØ he said, adding that a lot of the new products ÔÇ£are the name-brand products that people have always bought and expected to buy at the old Bed Bath & Beyond.ÔÇØ

Overstock (OSTK), which sells furniture, home furnishings, bath, lighting, rugs and an array of other products online at discounted prices, acquired Bed Bath & BeyondÔÇÖs name, intellectual property and digital assets in June with a winning bid of $21.5 million for its assets.

Johnson promised newness blended with familiarity for Bed Bath & Beyond customers in the latest digital-only version of the retailer.

ÔÇ£It will have the same great bed, bath and kitchen items but it will also have a much bigger beyond,ÔÇØ he said. The ÔÇ£beyondÔÇØ includes a wider array of linens, cookware and small appliances.

Fans of Bed Bath & BeyondÔÇÖs 20%-off a single item ÔÇ£Big BlueÔÇØ coupon will be somewhat disappointed that it will not be resurrected.

ÔÇ£I guess what I would say about the coupon is that if you like Bed Bath & Beyond coupons in the past, you will like new Bed Bath & Beyond mobile app we will be rolling out with launch in US,ÔÇØ said Johnson.

He said shoppers can avail of special deals and promotions through the new app. BedBathand Beyond.com is also reinstating up to $50 in unused loyalty rewards points for active members of the former Bed Bath & Beyond loyalty program. ÔÇ£Those rewards points had gone away in the bankruptcy,ÔÇØ he said.

ÔÇ£WeÔÇÖll still be offering coupons even if theyÔÇÖre not as large as the 20% coupon that people expected and frankly demanded from Bed Bath & Beyond,ÔÇØ said Johnson.

WhatÔÇÖs not coming back ÔÇô at least in the foreseeable future ÔÇô are physical stores.

Never say never, said Johnson. Were focused on this transition now and we like our asset-light business model. But never say never. Well look, we may test, but right now, its not in the current strategic plan.

Bed Bath & Beyond announced in April it would close all 360 of its stores and go out of business.

One change that Overstock is contemplating is the company ticker symbol.

ÔÇ£We think the corporate name, which is Overstock and ticker ÔÇÿOSTKÔÇÖ is probably not a fit anymore. WeÔÇÖre figuring out what to do. WeÔÇÖre not sure we want it to be the ÔÇ£BBBYÔÇØ tainted ticker of a meme stock gone bankrupt. WeÔÇÖll find the right name in time.ÔÇØ

Bed Bath & BeyondÔÇÖs return comes close on the heels another iconic retail brandÔÇÖs comeback.

Babies R Us, which went out of business in tandem with its parent company, Toys R Us, in 2018, opened its new US flagship store this month at the American Dream Mall in New Jersey.

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