Bed Bath & Beyond will get a brick-and-mortar renaissance of sorts after going out of business last year.
Midvale, Utah-based Beyond Inc., formerly Overstock.com, which bought the big-box retailer out of bankruptcy, will re-introduce Bed Bath & Beyond branded products at its more than 100 physical Container Store locations.
The initiative is part of a $40 million effort to revive the struggling Container Store, a former Bed Bath & Beyond competitor, as it contends with depressed sales.
The companies said they “have entered into a strategic partnership with the objective to improve customer experience utilizing both the Iconic Bed Bath and Beyond Brand and The Container Store,” in a press release.
Both believe that Bed Bath & Beyond brand will help return The Container Store to profitability, the release added.
The company will create “appropriately sized spaces” in The Container Store locations in which to showcase co-branded Bed Bath & Beyond kitchen, bath and bathroom products.
“We see tremendous whitespace for The Container Store’s best-in-class, solution-based offerings across the entire Beyond portfolio, particularly within its high-margin Custom Spaces offering through the proprietary Elfa and Preston lines,” said Marcus Lemonis, executive Chairman of Beyond, Inc., in a statement.
Lemonis hopes that leveraging the Bed Bath & Beyond brand will help drive foot traffic to The Container Store.
“Partnerships like this further support the value of iconic brands leveraging each other’s assets and core competencies while improving customer conversion and retention, enhancing margins, and optimizing marketing expenses which are the principal drivers in delivering value creation and profitable growth,” he added.
The Bed Bath & Beyond brand has existed exclusively online since it was acquired. This will mark the first time since filing for bankruptcy that the brand will have an in-store presence.
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