The home product store Overstock is essentially an online-only department store today, offering steep discounts that bring in a little less than one billion dollars of revenue each year.
As Bed, Bath and Beyond files for bankruptcy and closes its physical stores nationwide, Overstock is ready to make a major purchase.
This bid will be submitted once Bed, Bath and Beyond properties, both physical and intellectual, get put on the auction block. Bids are due this Friday.
What does this mean? Two things – design and brand name. Bed, Bath and Beyond produced tons of original furniture and pieces. As new consumers hunt for styles on the internet, visual uniqueness means more now, than ever. But Overstock.com will only be purchasing the rights to use the brand name “Bed, Bath and Beyond.”
Many people have fond memories shopping at Bed, Bath and Beyond, with the brand name having some serious name recognition. The bankrupted store’s ghost will live on online, only.
Overstock’s stock has been hovering at least a few points in the green for the last month. This news created even greater interest in the encroachment home goods brand. Their stock rose 2.5% in a day.
Shuttered stores had been getting a second life in Mexico, for example, as their middle class has risen. Brand new Sears pop ups all over the nation. Sanborn’s, a popular Denny’s-like Mexican diner joint, bought the rights for Sears.
Overstock is taking the fading but loved brand name buy into the internet age. Anyone up for a bottle of Woolworth’s soda? Don’t worry – you can still get one online!
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