A month right after Overstock.com announced it bought Mattress Bathtub & Beyond’s manufacturer out of bankruptcy, the enterprise has dumped its title and morphed its internet site and app.
On Tuesday, Overstock’s web-site relaunched as BedBathandBeyond.com, a go that merges Overstock’s on the internet organization model and items types with well known branded solutions favored by Mattress Bathtub & Further than customers.
“All of Overstock’s classes will transition around and new solutions will also come in,” Jonathan Johnson, CEO of Overstock, mentioned in an job interview with CNN.
The relaunched web-site touted a “Welcome to a greater, better beyond” welcome message, presenting discounts of an more 15%-20% off bedding, bathtub and furniture merchandise.
“Since this deal was announced, we have additional around 600,000 new items to the website,” said Johnson, introducing that a ton of the new products “are the name-manufacturer solutions that persons have often bought and anticipated to acquire at the previous Mattress Bath & Outside of.”
(OSTK), which sells furniture, house furnishings, bathtub, lights, rugs and an array of other goods on the net at discounted rates, obtained Mattress Bathtub & Beyond’s identify, mental home and digital property in June with a successful bid of $21.5 million for its property.
Johnson promised newness blended with familiarity for Bed Bath & Past buyers in the most up-to-date digital-only edition of the retailer.
“It will have the exact wonderful bed, bathtub and kitchen area objects but it will also have a much bigger further than,” he claimed. The “beyond” incorporates a wider array of linens, cookware and smaller appliances.
Fans of Bed Bath & Beyond’s 20%-off a solitary merchandise “Big Blue” coupon will be to some degree dissatisfied that it will not be resurrected.
“I guess what I would say about the coupon is that if you like Bed Bath & Over and above coupons in the earlier, you will like new Bed Tub & Further than cell application we will be rolling out with launch in US,” explained Johnson.
He said customers can avail by themselves of specific specials and promotions via the new app, which includes a 25% off coupon for downloading the application and earning purchases. Previous Overstock.com loyalty method associates will get a 20% off coupon and their membership transferred to the rebranded loyalty method.
BedBathand Outside of.com is also reinstating up to $50 in unused loyalty benefits details for active members of the previous Bed Tub & Over and above loyalty program. “Those rewards factors had absent away in the individual bankruptcy,” he mentioned.
“We’ll nevertheless be featuring discount coupons even if they’re not as massive as the 20% coupon that people today predicted and frankly demanded from Mattress Bath & Further than,” explained Johnson.
What is not coming back — at minimum in the foreseeable upcoming — are physical stores.
“Never say never,” mentioned Johnson. “We’re concentrated on this changeover now and we like our asset-light-weight small business model…. But by no means say under no circumstances. We’ll glance, we may possibly test, but correct now, it’s not in the present-day strategic prepare.”
Mattress Bathtub & Beyond declared in April it would near all 360 of its merchants and go out of business enterprise.
1 change that Overstock is considering is the firm ticker image.
“We believe the company name, which is Overstock and ticker ‘OSTK’ is most likely not a match any more. We’re figuring out what to do. We’re not sure we want it to be the “BBBY” tainted ticker of a meme stock long gone bankrupt. We’ll discover the appropriate title in time.”
Bed Tub & Beyond’s return will come near on the heels a different iconic retail brand’s comeback.
Babies R Us, which went out of business in tandem with its mother or father corporation, Toys R Us, in 2018, opened its new US flagship shop final month at the American Aspiration Shopping mall in New Jersey.