Overstock.com CEO jealous of Bed Bath & Beyond name, company now taking its name
Overstock.com CEO jealous of Bed Bath & Beyond name, company now taking its name
Overstock.com Rebrands as Bed Bath & Beyond: A Fresh Start for an Iconic Name
After months of anticipation, online home goods retailer Overstock.com has undergone a major transformation. Overstock.com’s CEO, Jonathan Johnson, confessed his long-standing jealousy over the iconic name of another retail giant, Bed Bath & Beyond. And now, his wish has come true. Overstock.com has acquired Bed Bath & Beyond’s digital assets after the retailer filed for bankruptcy earlier this year, leading to the rebirth of the beloved brand.
“We’ve looked at Bed Bath and Beyond jealously for several years,” shared Johnson in a recent interview with NBC News. “We really liked their name, and it was an iconic brand people loved.” Johnson recognized that the Overstock name no longer resonated with customers in the way it should. As he put it, “We have a really nice business model with a name that could use some sprucing up.”
Overstock.com, a 25-year-old company, faced challenges associated with its original image as a liquidation and clearance sale website. This perception made it difficult to attract both customers and suppliers. With the rebranding, the company aims to shed its old identity and embrace a fresh start. The relaunched website now operates under the iconic name BedBathandBeyond.com. This move not only infuses new life into the brand but also allows Overstock.com to distance itself from past controversies.
Rebranding presents an opportunity for Overstock.com to redefine itself in the market and disassociate from negative associations, such as the scandal of naked short-selling in the early 2000s and the former CEO Patrick Byrne’s romantic involvement with a Russian spy, which prompted his resignation in 2019. By adopting the trusted and well-loved brand name of Bed Bath & Beyond, the company can leave behind a tumultuous past and start anew.
As part of the relaunch, the website is welcoming back an old favorite – coupons. The return of coupons is expected to appeal to customers, attracting those familiar with the savings offered by Bed Bath & Beyond while also introducing a new level of discounts for Overstock.com shoppers. Johnson envisions the coupon program to be more than what Overstock shoppers are accustomed to, but less expansive than what Bed Bath & Beyond customers are used to. This balance ensures that loyal customers from both brands are catered to.
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Additionally, the revamped website has introduced a rewards points system. Customers can now redeem up to $50 of their rewards points from old Bed Bath & Beyond accounts. This feature not only adds value to the customer experience but also serves as an incentive for existing Bed Bath & Beyond customers to explore the offerings of the new BedBathandBeyond.com.
Overstock.com’s bold move to rebrand as Bed Bath & Beyond signifies a commitment to growth and innovation. By leveraging the reputation and brand recognition of an iconic retailer, Overstock.com aims to attract a wider audience and forge new partnerships within the industry. The transition from Overstock.com to BedBathandBeyond.com marks a turning point in the company’s journey, promising a brighter and more exciting future.
So, say goodbye to the old and welcome the new as Overstock.com transforms into Bed Bath & Beyond. Prepare for a revamped shopping experience, filled with savings, rewards, and the same commitment to quality and style. The history and legacy of Bed Bath & Beyond now merge with the spirit of innovation and resilience that Overstock.com represents. It’s time to embark on this exciting new chapter together.
