Overstock.com to Rebrand by Taking Name of Bankrupt Bed Bath & Beyond

Shoppers enter a Bed Bath & Beyond store in Glendale, Colo., on May 29, 2023. (David Zalubowski/AP Photo)

Overstock.com is rebranding itself and its website by taking Bed Bath & Beyond’s name after it acquired the rights from the bankrupt company in June.

The company, which sells goods like furniture, rugs, and home décor, has dumped its name and morphed its website and app.

On Aug. 1, Overstock’s website relaunched itself and now redirects American shoppers to BedBathAndBeyond.com.

The resurrection of the Bed Bath & Beyond brand comes shortly after Babies R Us opened its new flagship store in July at the American Dream Mall in New Jersey after going out of business in the wake of the collapse of its parent company, Toys R Us, in 2018.

The move is intended to merge Overstock’s online business model and merchandise with popular branded products favored by former shoppers of Bed Bath & Beyond.

“All of Overstock’s categories will transition over and new products will also come in,” Jonathan Johnson, CEO of Overstock, now called Bed Bath & Beyond, told CNN.

Overstock Assumes Bed Bath & Beyond’s Identity

After it filed for bankruptcy in April, Bed Bath & Beyond no longer exists as a separate company.

However, the defunct retailer sold its intellectual property rights to Overstock in bankruptcy court for $21.5 million in cash, including the website, mobile app, and brand name. Other assets such as its store leases, inventory, and warehousing were left out of the deal.

“This is a historic day for Bed Bath & Beyond and Overstock—and for the broader e-commerce industry,” Mr. Johnson said.

“Overstock has a great business model with a name that does not reflect its focus on home. Bed Bath & Beyond is a much-loved and well-known consumer brand, which had an outdated business model that needed modernizing.”

Mr. Johnson told NPR that customers and suppliers are misinformed that Overstock was a liquidator, which it was not.

Overstock has no current plans to use Bed Bath & Beyond’s 360 former brick-and-mortar stores after the home retailer announced its liquidation in April, he said.

“We didn’t purchase any leases for the Bed Bath & Beyond stores because we think it’s an outdated business model, and it’s a big expense that one is having to pass along to customers in the form of higher prices,” said Mr. Johnson.

“We’re 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.”

Meanwhile, Overstock is also contemplating changing its ticker symbol.

“We think the corporate name, which is Overstock and ticker ‘OSTK,’ is probably not a fit anymore. We’re figuring out what to do. We’re not sure we want it to be the ‘BBBY’-tainted ticker of a meme stock gone bankrupt. We’ll find the right name in time,” Mr. Johnson told CNN.

Newly Revamped Company Will Retain Many Old Features on Its Website

Mr. Johnson said the website will remain similar to Bed Bath & Beyond’s original layout, as both retailers had common suppliers.

“It will have the same great bed, bath, and kitchen items, but it will also have a much bigger beyond,” he said, but it will also include a wider array of linens, cookware, and small appliances.

Many of the products “are the name-brand products that people have always bought and expected to buy at the old Bed Bath & Beyond,” said the CEO.

More than 600,000 items, primarily in the bed, bath, and kitchen sectors, have been added to the revamped website.

The relaunched website displayed a “Welcome to a bigger, better beyond” welcome message, with deals for an extra 15–20 percent off for bed, bath, and furniture items.

All customers who were a part of Bed Bath & Beyond’s rewards program will have $50 in loyalty points reinstated, but the bankrupt retailer’s 20 percent off big blue coupons will not be accepted, as the feature remains defunct.

“We’ll still be offering coupons even if they’re not as large as the 20 percent coupon that people expected and frankly demanded from Bed Bath & Beyond,” said Mr. Johnson.

Still, the Overstock CEO said that shoppers could instead take advantage of special deals and promotions through the new app, including a 25 percent off coupon for downloading the app and making purchases.

“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 the U.S.,” said Mr. Johnson.

Former Overstock.com loyalty program members will additionally get a 20 percent off coupon, as their membership is transferred to the rebranded loyalty program.

Johnson said the relaunched company will be selling back-to-school deals next year and will start selling pre-packaged boxes of dorm room supplies.

Bed Bath & Beyond will start registry signups in 2024.

The Epoch Times reached out to Overstock.com for comment.