Overstock.com is now Bed Bath & 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 $21.5 million, just two months after the company filed for Chapter 11 bankruptcy. All physical stores were scheduled to be closed by the weekend of July 29.
On Tuesday, Aug. 1, Overstock.com, the online repository for closeout furniture and decor, officially swapped its name and relaunched its website. Now, when customers search for either retailer online, they will end up on the same landing page where the logos of both companies will be displayed for the next few months.
Overstock CEO Jonathan Johnson said the rebranding is expected to build on both companies’ strengths. He said Overstock had a good operating model but a bad name, whereas Bed Bath & Beyond had a great name but a bad operating model.
Marketing experts said 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 said there is currently no plan 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. More recently, Twitter changed its name to X.
A marketing professor at the University of Pennsylvania told The Washington Post there are risks to such a major rebrand for Overstock. The company has to meet customer’s expectations for what they would expect to find at Bed Bath & Beyond. The Overstock CEO said the company has already expanded its inventory to include more bedding options and small appliances like toasters and mixers.
