Overstock's CEO explains why the surprise decision to rename the brand after bankrupt Bed Bath & Beyond is actually a brilliant move
has already been refreshed, offering a preview of what's coming in August when shoppers on Overstock's US website and apps will be redirected to those for Bed Bath & Beyond – with orders fulfilled by Overstock.Bed Bath & Beyond
"We have long looked for ways to rebrand, but wanted to do so in a way that wouldn't take years or cost hundreds of millions of dollars," he said.launched in 1999 as a liquidation site where shoppers could get clearance deals on surplus and returned merchandise. The company soon shifted gears to sell new products, with an increasing emphasis on housewares, but Johnson said the original image of a clearance outlet stuck in the minds of shoppers.
"While Overstock is a successful company, its brand name is nowhere near as well-known as that of Bed Bath & Beyond," GlobalData retail analyst Neil Saunders told Insider., Johnson saw a golden opportunity. "Mismanagement can kill companies but doesn't kill brands," Johnson said."There are lots of brands that have gone through bankruptcy that remain strong and iconic today.Despite the turmoil of the past few years, Johnson said the Bed Bath & Beyond brand remains so strong that his e-commerce company is going all-in, redirecting web addresses, updating mobile apps, and retiring the Overstock name across all customer-facing platforms later this year.
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