Bed Bath & Beyond is open to third-party brands and will cooperate with Kroger platform

It is learned that according to foreign media reports, BedBath&Beyond (BBB) ​​recently announced that it will open up third-party brands to sell and set up a special area on its platform to sell third-party brand products.

At the same time, BedBath&Beyon also said that it has established a partnership with Kroger. Starting in 2022, its own brands BedBath&Beyond and BuyBuyBaby products will be sold on Kroger's website.

BBB managing director Neil Saunders said the moves had injected welcome life into a business that had slowed in recent months.

Over the past two years, the home furnishings retailer has launched a series of initiatives to try to turn around its business. Last year, Bed Bath & Beyond laid out a plan to launch 10 private-label brands (it has launched seven so far) and redesign its stores. It announced in September that it has remodeled about 70 stores so far, including its New York City flagship store, which reopened in July.

BedBath & Beyond also partnered with DTC mattress brand Casper to create a shop-in-shop at its flagship location, and formed an exclusive partnership with Kris Jenner’s cleaning product line Safely.

But for BBB, these efforts are unlikely to produce sustained results.

BBB reported in September that its second-quarter net sales fell 26% to $2 billion, while comparable sales fell 1% due to lower foot traffic in its stores. Profits fell into the red, with a reported net loss of $73 million, compared with a profit of $218 million a year ago.

Home furnishing retail has seen explosive growth during the pandemic as consumers increase their investments to improve their home environments. As demand for this category begins to weaken, BBB will also face more severe market conditions.

The partnership with Kroger could help offset the drop in demand by giving Bed Bath & Beyond the potential to attract a new set of customers.

Editor ✎ Xiao Zhu/

Disclaimer: This article is copyrighted and may not be reproduced without permission.