Bed Bath & Beyond continuing transformation with massive push into ‘Owned Brands’

Bed Bath & Beyond is revamping itself. (File photo)

Bed Bath & Beyond, the home goods retailer based in Union, announced the next step in its ongoing transformation plan this week.

The company said in a news release it will launch at least eight “Owned Brands” in fiscal 2021, aiming to differentiate itself with products available only at its stores and website.

“In the next six months, we will deliver the most significant transformation of our product assortment in a generation, by providing our customers with inspirational Owned Brands across every room in their homes,” CEO and President Mark Tritton said in a prepared statement.

The company said products will include bed, bath, kitchen and dining, storage and organization, and home décor, among others.

“In 2020, we rebuilt and stabilized the foundations of our business, while creating growth,” Tritton said. “As we enter our company’s 50th year, we look forward to welcoming our customers to the new Bed Bath & Beyond, with a truly customer-inspired assortment, reimagined stores, an enhanced omni-always, digital-first shopping experience, and exceptional value across every price point.”

Bed Bath & Beyond plans to introduce at least 10 of these Owned Brands in the next two years, including launching a new brand every month in the first half of fiscal 2021. It also intends to remove many underperforming labels and brands, it noted.