Beyond, Inc. Launches Global Licensing Program, Starting with Bed Bath & Beyond Brand

Rhea-AI Summary

Beyond, Inc. (NYSE:BYON) has launched a global licensing program for the Bed Bath & Beyond brand. The program includes:

• Product licensing agreements for Bed Bath & Beyond branded textile goods
• Licensing agreement for Bed Bath & Beyond stores in Mexico
• Negotiations for stores in other global markets

The company granted a category license to PEM America for home textiles. The brand will cover four core pillars: bedroom, bathroom, kitchen, and patio. Beyond purchased Bed Bath & Beyond's intellectual property assets for $21.5 million in June 2023 and recently sold the Wamsutta brand for $10.25 million. The company aims to monetize its intellectual property and assets through partnerships with manufacturers and retailers.

Positive

• Launch of global licensing program for Bed Bath & Beyond brand
• Expansion into multiple retail channels including mass market and online marketplaces
• Licensing agreement for Bed Bath & Beyond stores in Mexico
• Category license granted to PEM America for home textiles
• Sale of Wamsutta brand rights for $10.25 million

Negative

• None.

Financial Analyst

Beyond's launch of a global licensing program for the Bed Bath & Beyond brand is a strategic move to monetize acquired intellectual property. The company's $21.5 million investment in Bed Bath & Beyond's IP assets in June 2023, followed by the $10.25 million sale of Wamsutta brand rights in April 2024, demonstrates a profitable asset management approach.

This licensing strategy could potentially generate significant recurring revenue without the operational costs of running physical stores. However, the success hinges on consumer reception and the quality of licensed products. Investors should monitor the revenue impact in upcoming quarterly reports to gauge the program's effectiveness.

While promising, it's important to note that brand licensing carries risks, including potential brand dilution if not managed properly. The company's ability to maintain brand integrity across various channels will be key to long-term success.

Market Research Analyst

Beyond's global licensing program for Bed Bath & Beyond is a calculated attempt to revitalize a well-known brand in a cost-effective manner. By leveraging the brand's recognition across multiple retail channels, Beyond aims to capture market share without the overhead of extensive brick-and-mortar operations.

The strategy aligns with current retail trends, where brand presence across various platforms is increasingly important. The inclusion of mass market, off-price and online marketplaces suggests a broad approach to reach diverse consumer segments.

However, success will depend on how well the brand resonates with consumers in its new incarnation. The "aspirational yet attainable" positioning could be appealing, but Beyond must ensure consistent quality across licensed products to maintain brand equity. Investors should watch for early adoption rates and consumer feedback as indicators of the program's potential.

— Brings this Iconic Brand Back to Consumers in Multiple Channels —

MIDVALE, Utah--(BUSINESS WIRE)-- 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

Source: Beyond, Inc.

FAQ

What is Beyond, Inc.'s new global licensing program for Bed Bath & Beyond?

Beyond, Inc. (NYSE:BYON) has launched a global licensing program for the Bed Bath & Beyond brand, including product licensing agreements for branded textile goods, a licensing agreement for stores in Mexico, and ongoing negotiations for stores in other global markets.

Who has Beyond, Inc. partnered with for the Bed Bath & Beyond product licensing?

Beyond, Inc. has granted a category license to PEM America, a leading home textiles manufacturer, for Bed Bath & Beyond branded products including bedding, bath linens, and home décor.

How much did Beyond, Inc. (BYON) pay for Bed Bath & Beyond's intellectual property assets?

Beyond, Inc. purchased certain intellectual property assets of Bed Bath & Beyond for $21.5 million in June 2023.

What recent asset sale did Beyond, Inc. (BYON) complete related to Bed Bath & Beyond?

In April 2024, Beyond, Inc. sold its rights to the Wamsutta brand, which was part of the Bed Bath & Beyond assets, for $10.25 million.