Murray, Utah — Bed Bath & Beyond, Inc., owner of Bed Bath & Beyond, Overstock, buybuy BABY and a blockchain asset portfolio, has completed a $10 million purchase of the Kirkland’s Home® trade name and related brand assets from The Brand House Collective, Inc.
The move accelerates the companies’ national store conversion strategy, converting Kirkland’s Home locations into Bed Bath & Beyond stores to drive a larger national footprint, greater operating efficiencies and underscoring the company’s conviction in the power of ‘omnichannel.’
The companies will expand Kirkland’s Home into the wholesale market, extending the brand’s nearly 60-year legacy in seasonal home décor and furnishings to independent retailers nationwide and creating a new, recurring revenue stream.
Bed Bath & Beyond, Inc. will continue to receive the same collaboration fee as in the existing arrangement, now broadened to include revenue from the wholesale channel.
“The excitement around the Bed Bath & Beyond brand has been undeniable with the first of many store conversions,” says Marcus Lemonis, executive chairman of Bed Bath & Beyond, Inc. “This early success reinforces our conviction in the strategy and our commitment to accelerate the rollout nationwide. Kirkland’s Home design and product development will expand through both Bed Bath & Beyond Home stores and the wholesale market, and I have full confidence in Amy Sullivan and her team to drive this growth.”
Bed Bath & Beyond, Inc., based in Murray, Utah, is an e-commerce-focused retailer with an affinity model that owns or has ownership interests in various retail brands. The company currently owns Bed Bath & Beyond, Overstock, buybuy BABY and now Kirkland’s Home, as well as other related brands and websites and a blockchain asset portfolio inclusive of tZERO, GrainChain and other assets. For more information, visit www.Beyond.com.
SOURCE: Bed Bath & Beyond, Inc.