Dive Brief:
- As The Brand House Collective prepares to open a new Bed Bath & Beyond Home store Aug. 8 in Nashville, Tennessee, the retailer is bringing back an iconic aspect of its history.
- The retailer will honor the use of old Bed Bath & Beyond coupons at the new location and provide new coupons to customers, per the release.
- The first 25 customers who make a purchase will receive a 10-inch memory foam queen-size mattress called The Beyond Bed.
Dive Insight:
Bed Bath & Beyond’s brick-and-mortar presence returns next month with an appeal to former customers.
“We’re proud to reintroduce one of retail’s most iconic names with the launch of Bed Bath & Beyond Home, beautifully reimagined for how families gather at home today,” Amy Sullivan, CEO of The Brand House Collective, said in a statement. “This isn’t just a store, it’s a fresh start for a brand that means something special to so many families.”
Additionally, The Brand House Collective released an SEC filing on Monday noting that shareholders on Thursday approved to declassify the board of directors and move to an annual directors election going forward.
Kirkland’s deepened its connection to Beyond Inc. and announced its rebrand as The Brand House Collective in June, aiming for an operational reset after slumping performance. The news follows months of growing its complex financial relationship with the owner of Bed Bath & Beyond, Overstock and BuyBuy Baby. The Brand House Collective is tasked with converting Kirkland’s Home stores to Bed Bath & Beyond Home stores, with the company in June stating around 290 Kirkland’s locations would serve as the “foundational footprint for Kirkland’s Home, Bed Bath & Beyond Home, and Overstock.”
Beyond acquired Kirkland’s IP for $5 million (with plans to license it back) in May after beginning a strategic partnership in October when Beyond provided Kirkland’s with $17 million in debt financing.
While The Brand House collective is focused on retail, Beyond is ingraining itself deeper into the world of digital assets. The company began describing itself as the owner of a “blockchain asset portfolio” in press releases earlier this year.
Over the past few months, Beyond (through two different subsidiaries) has debuted crowdfunded offerings of digital tokens connected to certain IP for the BuyBuy Baby and Overstock banners via the tZero brokerage platform operated by tZero Securities, according to company press releases. In both cases, Beyond met its minimum target offering of $250,000 early, per separate press releases from last week and May.
Beyond is also tZero’s “largest equity holder,” according to a letter to tZero’s board of directors from Beyond’s Executive Chairman Marcus Lemonis on Monday. Among a list of suggestions, Lemonis urged for the company to “file a shelf registration or consider leveraging Beyond as a public platform using its existing infrastructure,” and also penned a similar letter to tZero’s board a week earlier. At the time of publication, tZero did not respond to Retail Dive requests for comment on the letters.
Meanwhile, Eric Ebert of Shay Capital (which identifies itself as a “significant shareholder” in Beyond) published an open letter Wednesday to Lemonis and the Beyond board commending them for the first letter to tZero and pushing for Beyond to “ to unlock the substantial value embedded in these blockchain assets to deliver meaningful returns to loyal shareholders” through its investments in companies such as tZero. Beyond did not immediately respond to a request for comment from Retail Dive.