An online destination for up-and-coming brands since it launched in 2010, Of a Kind has made the surprise business move to join a family of companies that includes Christmas Tree Shops and Cost Plus World Market. This is all to say: Of a Kind just got acquired by Bed Bath & Beyond.
The e-commerce site's founders, Claire Mazur and Erica Cerulo, sent out a blast on Monday afternoon alerting fans of the news. According to their note, Of a Kind will be carrying on its operations just as before, but with "much-needed support so we can really carpe that diem." After getting off the ground as a hub for limited-edition product runs from emerging designers, delivered with interviews and articles to add sticking power, Of a Kind later expanded to include full-time inventory as well.
We've reached out to Mazur and Cerulo about the deal — and what it means for Of a Kind's future — and will update when we hear back.
Update: Of a Kind's Mazur and Cerulo declined to speak to any financial details — including how much the deal went through for (which should come out in Bed Bath & Beyond's next quarterly report, anyway), or how much it's doing in sales at the moment. The two are now hiring in a number of positions, however, and aiming to grow their "super tiny" team slowly. So why sell to Bed Bath & Beyond, rather than a more fashion-focused company? Mazur cited its 44-year history of selling to a wide range of people as a major factor. When the acquisition opportunity presented itself, the two said, "it was so obvious."