Bed Bath & Beyond's Acquisition Takes Personalization To The Next Level
By Christine Kern, contributing writer
PersonalizationMall.com expands product personalization and helps provide differentiated products.
In an effort to help provide more differentiated products, services and solutions to its customers, Bed Bath & Beyond has announced the acquisition of PersonalizationMall.com, allowing the retailer to expand its existing assortment of personalized products and improve customer experience.
"We are delighted to welcome PersonalizationMall.com to Bed Bath & Beyond. They have built a tremendous business, and we are excited to support them as they advance their industry-leading position within the growing category of product personalization," stated Steven H. Temares, Chief Executive Officer and Member of the Board of Directors of Bed Bath & Beyond Inc.
"We view personalization as a significant opportunity for us to create additional differentiation and enable us to do more for and with our customers." Temares added, "We look forward to supporting PersonalizationMall.com as they continue to improve the customer experience by enhancing their product mix, upgrading their e-commerce website and driving optimization of their marketing initiatives. At the same time, we are excited by the opportunity to leverage their advanced personalization and production capabilities to create additional omnichannel offerings across all of our concepts."
The acquisition came at a $190 million price tag, and Bed Bath & Beyond sees it as an opportunity to capitalize on the same of personalized items for weddings, birthdays, holidays, and other special events.
"I am very proud of the work our team has done in building PersonalizationMall.com into a market segment leader due to the ever-increasing demand for a wide range of quality personalized gift offerings," said Dan Randolph, Founder and President, PersonalizationMall.com. "We are excited to be given the opportunity to realize the full potential of the PersonalizationMall.com brand in working together with Bed Bath & Beyond. Additionally, it is a great opportunity for our PMall Team to become part of such an admired company that is as committed to great customer service as we are."
Earlier this year, Bed Bath & Beyond also acquired online retailer One Kings Lane for $11.8 million. Bed Bath & Beyond has been searching for ways to generate more revenue and to improve customer engagement online, including launching a new pilot online loyalty program, an invitation-only membership service offering a 20 percent discount on all purchases and free shipping on all orders.