MIAMI – Overstock.com, 1 of the largest names in e-commerce, is ditching its identify for anything just as recognizable: Mattress Tub & Over and above.
The change will come subsequent a judge’s acceptance of Overstock’s buy of the bankrupt brand’s name, domain, and loyalty system belongings before this week for far more than $21 million. Even so, the acquisition isn’t going to include things like the Mattress Bath & Beyond brick-and-mortar shops, which are closing.
Calling the acquisition a “substantial and transformative phase,” Overstock CEO Jonathan Johnson said in a assertion that “combining the strengths of the Overstock operational product and the Bed Bathtub & Over and above brand name will produce a strong synergy.”
Shares of Overstock jumped far more than 15% in Thursday buying and selling pursuing the news.
Consumers in Canada will see the improvements initial. Overstock options to relaunch that country’s internet site with a new look, then comply with weeks later on with a new procuring encounter working with the Mattress Bathtub & Past branding for the United States. Overstock’s loyalty system, Club O, is also being improved to Welcome Benefits, the title of Bed Tub & Beyond’s application.
Maybe making use of the recognizable name could give Overstock sales a lift, which have sagged in latest quarters mirroring its rivals’ pains, together with Wayfair. Equally have skilled a slowdown in home furniture and property products gross sales soon after a pandemic-induced boom in 2020 and 2021 when numerous clients, unable to vacation or go to the office environment, spent dollars redecorating their homes.
The identify adjust “will make feeling” in the eyes of Neil Saunders, retail analyst and controlling director at GlobalData Retail, who reported the “adjust is a person that must not be way too confusing to customers.”
“If taken care of thoroughly and with good communication, the rebrand should really not alienate existing Overstock consumers,” he explained. “It will also guarantee that Overstock gains the personalized of Bed Bathtub & Past customers and loyalists, which, regardless of the firm’s complications around the past number of years, continue to be intensive.”
In the meantime, the buybuyBaby chain, a former sister retailer of Bed Bathtub & Over and above, is becoming bought off in a individual revenue course of action and is thought of the most attractive element of the retailer’s assets. It remains unclear who is acquiring that portion of the business enterprise.
