New owners of Buy Buy Baby, Harmon to reopen more than a dozen stores
- Dream on Me, the baby retailer that bought Buy Buy Baby’s intellectual property and trademark plans to reopen 11 locations in the Northeast as soon as autumn.
- New Buy Buy Baby stores will be smaller stores with national brands and a focus on experiences, community building and learning.
- The private investor Jonah Raskas, who bought the intellectual property and trademark for Harmon with a $300,000 bid, plans to reopen five Harmon stores in New York, New Jersey and Pennsylvania with the potential for more.
The new buyers of former Bed Bath & Beyond banners’ Buy Buy Baby and Harmon plan to reopen physical stores as early as this fall, according to a report from CNBC. Dream on Me, the baby retailer that bought Buy Buy Baby’s intellectual property and trademark in July for $15.5 million plans to reopen 11 locations in the Northeast in autumn. Dream on Me’s purchase of Buy Buy Baby didn’t include any physical stores from Bed Bath & Beyond.
During the next one to three years, Avish Dahiya, Dream on Me’s chief marketing officer, told CNBC the retailer has plans to open 100 to 120 stores. Dahiya emphasized that omnichannel retail is critical for the brand and physical stores play a role.
When the new Buy Buy Baby stores open, consumers can anticipate smaller stores, national brands and a focus on experiences, community building and learning, Dahiya told CNBC. For example, the new Buy Buy Baby is anticipating registry events and product displays that will allow new parents to socialize and test products before purchasing. Additionally, about 80% of the retailer's team previously worked at Buy Buy Baby.
As far as Harmon, the private investor Jonah Raskas, who bought the intellectual property and trademark for the brand with a $300,000 bid, plans to reopen five Harmon stores in New York, New Jersey and Pennsylvania with the potential for more, CNBC reported. Raskas said he plans to keep much of the store’s format, experience and merchandise as it traditionally was.
Additionally, pieces of Bed Bath & Beyond’s former self also continue coming together. Earlier this month, Bed Bath & Beyond, which was purchased by Overstock.com Inc. in June, debuted BedBathandBeyond.com in the U.S. The launch marked a transformation for both Overstock and Bed Bath & Beyond, merging both retailers into a single online shopping destination under the Bed Bath & Beyond name. The Overstock name will sunset overtime, and the new retailer does not expect to open any physical stores.