Beyond, Inc. Launches Global Licensing Program, Starting with Bed Bath & Beyond Brand
10 September 2024 - 4:59PM
Business Wire
— Brings this Iconic Brand Back to Consumers in
Multiple Channels —
Beyond, Inc. (NYSE:BYON), owner of Bed Bath & Beyond,
Overstock, Zulily, and other online retail brands designed to
unlock your family’s and home’s potential (“the Company”), today
launched a new global licensing program, starting with the Bed Bath
& Beyond brand name. The program will be international in scope
and is designed to bring the brand to consumers in multiple ways,
including:
- Product licensing agreements to sell Bed Bath & Beyond
branded textile goods through other retailers, including mass
market, off-price, and online marketplaces
- Licensing agreement for Bed Bath & Beyond stores in
Mexico
- Negotiations are in progress for stores in other key markets
around the globe
Under the new global product licensing program, the Bed Bath
& Beyond branded assortment will include everything in its four
core pillars: the bedroom, the bathroom, the kitchen, and the
patio. The Company granted a category license to PEM America, a
leading home textiles manufacturer with a long history of producing
both licensed and private label products. The PEM America license
will span its entire product category base and include fashion
bedding, utility bedding, sheets, bath linens and accessories, and
window and soft home décor.
“We’re thrilled to bring the beloved Bed Bath & Beyond brand
back to life in this new and exciting way,” said Marcus Lemonis,
Executive Chairman of Beyond, Inc. “Through affordable, quality
goods that will soon be on retail shelves – both physical and
online – we’re reinvigorating the brand and returning it to its
core. The Bed Bath & Beyond brand is both aspirational and
attainable, and our brand will continue to reflect these
values.”
“In June 2023, we purchased certain intellectual property assets
of Bed Bath & Beyond for $21.5 million,” said Adrianne Lee,
Chief Financial and Administrative Officer. “In April 2024, we sold
our rights to the Wamsutta brand for $10.25 million. This is just
the beginning of our management team’s mandate to monetize our
intellectual property and assets.”
“We are excited to unlock the value of the Bed Bath & Beyond
brand in new and meaningful ways,” added Alexander Thomas, SVP
Finance and Corporate Development. “We will continue to explore
partnerships with manufacturers and retailers who share our vision
– and know how much customers will welcome our celebrated brand
into their homes.”
Interested parties should contact brandlicensing@beyond.com.
About Beyond
Beyond, Inc. (NYSE:BYON), based in Midvale, Utah, is an
ecommerce expert with a singular focus: connecting consumers with
products and services that unlock their families’ and homes’
potential. The Company owns Overstock, Bed Bath & Beyond, Baby
& Beyond, Zulily, and other related brands and associated
intellectual property. Its suite of online shopping brands features
millions of products for various life stages that millions of
customers visit each month. Beyond regularly posts information
about the Company and other related matters on the Newsroom and
Investor Relations pages on its website, Beyond.com.
Beyond, Bed Bath & Beyond, Welcome Rewards, Zulily,
Overstock and Backyard are trademarks of Beyond, Inc. Other service
marks, trademarks and trade names which may be referred to herein
are the property of their respective owners.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include all statements other than
statements of historical fact, including but not limited to
statements regarding licensing arrangements under the Bed Bath
& Beyond brand and any corresponding growth potential, benefit
or value, partnerships and performance thereunder, scope of
products offered, product prices, customer engagement, and timing
and duration of the product licensing program and corresponding
results. Additional information regarding factors that could
materially affect results and the accuracy of the forward-looking
statements contained herein may be found in the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2023,
filed with the SEC on February 23, 2024, on Form 10-Q for the
quarter ended June 30, 2024, filed with the SEC on July 31, 2024,
and in our subsequent filings with the SEC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240910973098/en/
Alexis Callahan, VP of Investor Relations & Public Relations
ir@beyond.com pr@beyond.com
Alexander Thomas, SVP Finance & Corporate Development
brandlicensing@beyond.com
Beyond (NYSE:BYON)
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