Bed Bath & Beyond is set to experience something of a brick-and-mortar renaissance after filing for bankruptcy last year.
Midvale, Utah-based Beyond Inc., formerly Overstock.com, which bought the big-box retailer out of bankruptcy, will reintroduce Bed Bath & Beyond brand products to 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 competitor of Bed Bath & Beyond, as it struggles with declining sales.
The companies said in a press release that they have “entered a strategic partnership with the goal of improving the customer experience by leveraging both the Iconic Bed Bath and Beyond Brand and The Container Store.”
Both believe the Bed Bath & Beyond brand will help The Container Store return to profitability, the release said.
The company will create “right-sized spaces” at The Container Store locations to showcase its co-branded Bed Bath & Beyond kitchen, bath and bathroom products.
“We see tremendous white space for The Container Store’s best-in-class, solutions-oriented offerings across the Beyond portfolio, especially within the high-margin Custom Spaces offering through its own Elfa and Preston lines,” said Marcus Lemonis, Executive Chairman of Beyond, Inc., in a statement.
Lemonis hopes that using the Bed Bath & Beyond brand will increase traffic to The Container Store.
“Partnerships like these further support the value of iconic brands that leverage each other’s assets and core competencies, while improving customer conversion and retention, improving margins and optimizing marketing costs, which are key 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 be the first time since then file for bankruptcy that the brand will be present in the store.
