Bed Bath & Beyond relaunches after Overstock buys intellectual property

Bed Bath & Beyond is back open for business, according to a Tuesday press release from Overstock.com, the furniture retailer that purchased the company's name, intellectual property and digital assets property in June.

While physical Bed Bath & Beyond stores will remain closed, Overstock has merged the two brands as one online shopping destination, with Overstock.com redirecting shoppers to BedBathandBeyond.com.

“Overstock has a great business model with a name that does not reflect its focus on home. Bed Bath & Beyond is a much-loved and well-known consumer brand, which had an outdated business model that needed modernizing,” said Jonathan Johnson, CEO of the new Bed Bath & Beyond in the release.

Along with Overstock's website redirecting to Bed Bath & Beyond, much of the original Bed Bath & Beyond branding remains on the site alongside several Overstock logos.

According to the release, Bed Bath & Beyond will continue to offer the home goods they are known for as part of the “millions of products available at ‘Smart Value’ -- or quality for less.”

The company also says customers can expect a growing assortment of furniture and other home products, but that smaller, low-cost items that were sold at Bed Bath & Beyond such as Tide Pods and K-Cups, will not be available on the site.

Bed Bath & Beyond will offer a variety of discounts and restored loyalty points. The company told ABC News it will offer up to $50 in points in its new program, plus a free year of membership, valued at $20.

“Through this rebranding, we’re breathing new life into Bed Bath & Beyond, positioning it as an asset-light, e-commerce retailer with an expanded home furnishings and furniture assortment. Think of it as Bed Bath & a much bigger, better Beyond,” said Johnson.

But those famous coupons that Bed Bath & Beyond was known for? They’re done, but Johnson promises, “If you liked the Bed Bath & Beyond coupons of the past, you will love our better pricing, special promotions and broad assortment."

Overstock paid $21 million for Bed Bath & Beyond’s brand back in June after the company filed for bankruptcy in April.