Bed Bath & Beyond Inc.'s former subsidiary Buy Buy Baby will be reopening some of its stores, Dream on Me Industries' chief marketing officer, Avish Dahiya, told CNBC on Thursday.
Dream on Me acquired Buy Buy Baby's intellectual property for $15.5 million during an auction following the bankruptcy of the latter's parent company. Dahiya revealed that 11 stores are planned to be reopened as soon as this fall in the Northeast. Meanwhile, in the next three years, the group plans to open 100 to 120 stores.
"We definitely see merit in expanding to that number across the US. Similar to what we have done in the Northeast, it will be more cluster-based versus one-off," the marketing officer said.