Overstock rebrands, launches Bed Bath & Beyond website

KARAH RUCKER: OVERSTOCK DOT COM IS NOW BED BATH AND BEYOND. THE MOVE IS AN ATTEMPT TO REVIVE THE NOW DEFUNCT HOUSEWARES CHAIN AND BOOST OVERSTOCK’S POPULARITY. 

IN JUNE, OVERSTOCK ACQUIRED BED BATH & BEYOND FOR 21-POINT-FIVE MILLION DOLLARS, JUST TWO MONTHS AFTER THE COMPANY FILED FOR CHAPTER 11 BANKRUPTCY. ALL PHYSICAL STORES WERE SCHEDULED TO BE CLOSED BY THIS PAST WEEKEND. ON TUESDAY, OVERSTOCK – THE ONLINE REPOSITORY FOR CLOSEOUT FURNITURE AND DECOR – OFFICIALLY SWAPPED ITS NAME AND RELAUNCHED THEIR WEBSITE. NOW WHEN CUSTOMERS SEARCH FOR EITHER RETAILER ONLINE, THEY WILL END UP ON THE SAME LANDING PAGE WHERE BOTH COMPANIES’ LOGOS WILL BE DISPLAYED FOR THE NEXT FEW MONTHS. 

OVERSTOCK CHIEF EXECUTIVE JONATHAN JOHNSON SAID THE REBRANDING IS EXPECTED TO BUILD ON BOTH COMPANIES’ STRENGTHS. HE SAID THEY HAD A GOOD OPERATING MODEL BUT A BAD NAME. WHEREAS BED BATH AND BEYOND HAD A GREAT NAME, BUT BAD OPERATING MODEL. 

MARKETING EXPERTS SAY THE PARTNERSHIP IS A SMART MOVE. BED BATH & BEYOND HAS STRONG BRAND RECOGNITION AND A STRONG CUSTOMER BASE, TWO THINGS OVERSTOCK NEEDED. THE NEW OWNER SAYS THEY CURRENTLY HAVE NO PLANS TO REOPEN ANY PHYSICAL STORES. 

OVERSTOCK IS THE LATEST IN A SERIES OF COMPANIES WHO HAVE TRADED THEIR NAMES IN RECENT YEARS. FACEBOOK CHANGED ITS PARENT COMPANY NAME TO  META, AS DID GOOGLE WHICH BECAME ALPHABET. AND JUST LAST WEEK TWITTER CHANGED ITS NAME TO X. A MARKETING PROFESSOR AT THE UNIVERSITY OF PENNSYLVANIA SAYS THERE ARE RISKS TO SUCH A MAJOR REBRAND FOR OVERSTOCK, TELLING THE WASHINGTON POST, THE COMPANY HAS TO MEET CUSTOMER’S EXPECTATIONS FOR WHAT THEY WOULD EXPECT TO FIND AT BED BATH & BEYOND. THE OVERSTOCK CEO SAYS THE COMPANY HAS ALREADY EXPANDED ITS INVENTORY TO INCLUDE MORE BEDDING OPTIONS AND SMALL APPLIANCES – LIKE TOASTERS AND MIXERS.