Overstock.com intends to sunset its company name and rebrand as Bed Bath & Beyond after purchasing that company's intellectual property assets in bankruptcy, Overstock CEO Jonathan Johnson said on Thursday.
Overstock, which chose not to bid on any of Bed Bath & Beyond's retail locations or inventory, will remain an online-only home goods retailer, combining Overstock's strengths with a better-known and stronger brand name, Johnson said in an interview.
Overstock's "generic" name has held the company back, and it does not really reflect the company's current focus on selling home goods and furniture online, Johnson said. Overstock already has a new Bed Bath & Beyond website in Canada, and it plans to go live with a U.S. website in August. "Our base pricing is better than what customers have experienced at Bed Bath & Beyond," Johnson said. "While they'll be able to add a coupon on top of it, I don't think they'll need to rely on the standard Bed Bath & Beyond "20% off" coupon that was almost ubiquitous."protection in April after struggling for years with dwindling sales and a failed merchandising strategy.Overstock.
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