Business Wire
The Container Store Group, Inc. and Beyond, Inc. Announce Strategic Partnership Leveraging Both the Iconic Bed Bath & Beyond Brand and The Container Store
Business Wire
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Beyond, Inc. enters into agreement to Invest $40 million in The Container Store Group, Inc. through Preferred Equity Transaction

COPPELL, Texas & MIDVALE, Utah, October 15, 2024--(BUSINESS WIRE)--The Container Store Group, Inc. (NYSE: TCS) ("The Container Store" or "the Company"), the nation’s leading specialty retailer offering custom spaces, organizing solutions, and in-home services, and Beyond, Inc. (NYSE:BYON) ("Beyond"), owner of Bed Bath & Beyond, Overstock, Zulily, and other online retail brands designed to unlock your home’s potential, today announced that the companies have entered into a strategic partnership with the objective to improve customer experience utilizing both the Iconic Bed Bath and Beyond Brand and The Container Store.

The companies intend for the partnership to position The Container Store to return to profitable comparable store growth over time by utilizing and benefitting from Beyond’s intellectual property, customer data, network of brands, and affiliate relationships.

The companies expect key aspects of the partnership to include:

  • Benefitting from The Container Store’s world class real estate locations and utilizing the Bed Bath & Beyond brand to launch appropriately sized spaces that showcase the iconic Bed Bath & Beyond assortment for kitchen, bath and bedroom, which will be co-branded. Through this collaboration, the companies expect to drive increased traffic for The Container Store’s core assortment and its high-margin, solution-driven Custom Spaces services business;

  • Beyond will offer a global loyalty program, multiple payment solutions and ancillary insurance and protection products through The Container Store brick-and-mortar locations and website to capitalize on the whitespace opportunity for Custom Spaces and increase conversion of design leads to drive growth through the well-established, vertically integrated model;

  • Beyond to integrate The Container Store’s differentiated and proprietary Custom Spaces offering, including its Elfa and Preston product lines, across Beyond’s portfolio of e-commerce banners as well as other ventures where Bed Bath & Beyond future licensed stores exist globally. This will service to drive improved revenue, inventory turns, and margins and improved customer experience for both companies;

  • The Container Store will join Beyond’s growing data platform and both companies will benefit from enhanced customer analytics that The Container Store will use to improve conversion, drive traffic, and reduce both customer acquisition and retention costs; and

  • Beyond to assist with expanded and renewed e-commerce platforms and strategies, driving improved customer experience, customer conversion, traffic monetization, and profitability.

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