Bed Bath & Beyond CEO Jonathan Johnson explains why Overstock.com has rebranded as a popular retailer and how it plans to navigate the current economic climate.
Beyond Inc. is looking to bring the Bed Bath & Beyond brand back to physical stores more than a year after it went out of business.
On Wednesday, Beyond Inc., which owns companies including Bed Bath & Beyond, Overstock and Zulily, said it is investing $40 million in Container Store Group.
Under the new partnership, the companies will use a portion of the Furniture Store’s real estate to promote the Bed Bath & Beyond assortment of kitchen, bath and bedroom products, which will be co-branded.
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Container Store CEO Satish Malhotra said the company believes the partnership will help deepen its relationships with customers, expand its reach and accelerate its return to positive same-store growth and profitability.
Closed Bed Bath & Beyond in Roseville, Minnesota. (Michael Siluk/UCG/Universal Images Group via Getty Images)
It will also mark the return of the Bed, Bath & Beyond brand, which filed for Chapter 11 bankruptcy protection in April 2023 after several failed attempts to turn its business around, and subsequently closed all of its retail locations.
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Overstock.com acquired the intellectual property of the defunct retail chain for $21.5 million in June 2023, and changed its business name to Beyond Inc. in October of that year.
Beyond Inc., which owns brands including Bed Bath & Beyond, Overstock and Zulily, said it is investing $40 million in Container Store Group. (Jin Lee/Bloomberg via Getty Images/Getty Images)
Over the past year, Overstock fired CEO Jonathan Johnson, acquired e-commerce retailer Zulily and relaunched Overstock.com.
| A ticker | Security | Finally | Change | Change % |
|---|---|---|---|---|
| BYON | Company BEYOND INC. | 10.26 | -0.08 |
-0.77% |
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Through its new partnership, Beyond will also offer a global loyalty program, multiple payment solutions and insurance and protection products through the Container Store’s brick-and-mortar locations and website, the companies said.
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