As of Tuesday, Overstock.com and Bed Bath & Beyond are one.
The online retailer that specialized in shipping third-party goods to customers swapped its name out for the former housewares chain whose brick-and-mortar stores went out of business earlier this year.
Overstock acquired Bed Bath & Beyond’s intellectual property for $21.5 million in June, The Washington Post reported, and decided to rebrand the company and change its name to Bed Bath & Beyond. As of Tuesday, customers searching for either retailer online will wind up on the same landing page.
“We thought we had a good operating model but a bad name; we thought Bed Bath & Beyond had a great name but a bad operating model,” Overstock chief executive Jonathan Johnson said.
While Bed Bath & Beyond had an online presence, it differed from Overstock’s corporate model which relies on moving the goods of third-party suppliers. According to the company’s CEO, the combined company will continue to provide the products Overstock had.
“All of Overstock’s categories will transition over and new products will also come in,” Johnson said in an interview with CNN.
“Since this deal was announced, we have added over 600,000 new products to the site,” Johnson said. Many of the new products “are the name-brand products that people have always bought and expected to buy at the old Bed Bath & Beyond,” he added.
If you like going into a store to shop, you may be disappointed, however. For now, there is no plan to reopen any brick-and-mortar shops.
“Never say never,” Johnson said. “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.”
And, if you are looking for the BB&B 20% coupon, you won’t find it.
“I guess what I would say about the coupon is that if you like Bed Bath & Beyond coupons in the past, you will like the new Bed Bath & Beyond mobile app we will be rolling out with launch in the US,” Johnson said.
