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Beyond (NYSE:BYON) rallied on Tuesday after the retailer announced the launch of a new global licensing program. The initiative will start with the Bed Bath & Beyond brand name and be international in scope.
The program will include product licensing agreements to sell Bed Bath & Beyond branded textile goods through other retailers, including mass market, off-price, and online marketplaces. There will also be a licensing agreement for Bed Bath & Beyond stores in Mexico. Beyond (BYON) noted that negotiations are in progress for stores in other key markets around the globe.
The Bed Bath & Beyond branded assortment included in the licensing program will run across the bedroom, bathroom, kitchen, and patio categories.
“This is just the beginning of our management team’s mandate to monetize our intellectual property and assets,” noted CFO Adrianne Lee.
Shares of Beyond (BYON) traded at their highest level in more than six weeks with a 13.3% rally on Tuesday afternoon.
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