![]() Two years later, however, Bed Bath & Beyond acquired the company in a cash deal for an amount the retailer described as “non material.” At press time, Business of Home had not confirmed the buyer or the price for the recent sale. In 2014, One Kings Lane raised funds on a valuation of $1 billion. ![]() In recent years, the company had been taking steps to bulk up its physical retail presence, including the opening last year of a 3,500-square-foot showroom in Boston and a Manhattan store in SoHo in 2018. Its approach has been to blend product from the world of high-end design (companies like Aero Studios, Visual Comfort, Aerin and Bunny Williams Home all sell through the site) with a distinctly editorial approach to merchandising. One Kings Lane, founded in 2009 by Susan Feldman and Alison Pincus as a flash sale site, has grown over the years into a full-fledged furniture and home accessories company with a mix of proprietary collections, collaborations and one-of-a-kind finds. However, the impact of COVID-19 on the company’s balance sheet has certainly injected urgency into Bed Bath & Beyond’s plans to slim down-on the call, Tritton announced that April sales were down 42 percent compared to last year. Late last year, just months after being appointed CEO, Tritton cleaned house, replacing much of the company’s senior management in one fell swoop.Įven prior to Tritton’s appointment, interim management at the company had announced a plan to close stores and scale back on the company’s operations it’s possible that the spinoff of One Kings Lane was planned long ago. Over the past five years, the company has struggled with a slumping stock price and underperforming stores. The sale comes at a difficult time for Bed Bath & Beyond. Link in bio 6,420 posts 895K followers 2,274. One Kings Lane Open House Hadley European Pillow Sham in White. Clearance Out of stock at Stephens Plaza. The spinoff was announced by CEO Mark Tritton on an earnings call last night, though he did not name a buyer or disclose a price. Designer, vintage & exclusive furnishings in all styles including your own. One Kings Lane Open House Brighton Fret Square Throw Pillow in Navy. For actress and singer-songwriter Minnie. By Hadley Keller Published: Feb 22, 2019. Bed Bath & Beyond has sold One Kings Lane, the online decor and furnishings marketplace it acquired in 2016. One Kings Lane's design team turned the space into a surf getaway for the actress.
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