Well, there are a few things everyone knows about an M&A, also known as merger and acquisition, which are that when a brand acquires another one, it is usually the case that they name the old one to the new one and not the other way around and also no one would like to rename their existing brand to a name that has failed in the market already. However, we can tell you that the Overstock.com CEO and his board think very differently as we have reports that the Overstock.com website and brand will be renamed to the brand they have just acquired which is Bed Bath & Beyond.
It is worth noting that the Bed Bath & Beyond name made sense but only if it wasn’t known to have failed and the market perception is such that people do not like to go to a brand that has not done well prior. Anyways, the CEO of Overstock.com says that their brand name Overstock was not going well with what they do currently. Overstock’s CEO says that “Bed Bath & Beyond is an iconic consumer brand, well-known in the home retail marketplace,” and adds that “The combination of our winning asset-light business model and the high awareness and loyalty of the Bed Bath & Beyond brand will improve the customer experience and position the Company for accelerated market share growth.”
Also, note that the Bed Bath & Beyond brand, which was originally Overstock.com, will still remain an online-exclusive meaning that it will not have any brick-and-mortar stores for the foreseeable future. It is also understood that the Bed Bath & Beyond retail stores are not part of the acquisition deal with Overstock.com which means that they will already clear on how they want to do business going forward. In related news, it will be seen that the Overstock.com website redirects to Bed Bath & Beyond and it will continue to do so by the end of this year after which it will be sunset forever. It is also revealed that the Bed Bath & Beyond brand will be launched in Canada by the end of this week along with a mobile app, website and also its own rewards program.
