Beyond rallies to six-week high after launching global licensing program (NYSE:BYON)

Past (NYSE:BYON) rallied on Tuesday after the retailer introduced the launch of a brand new international licensing program. The initiative will begin with the Mattress Tub & Past model identify and be worldwide in scope.

This system will embrace product licensing agreements to promote Mattress Tub & Past branded textile items by means of different retailers, together with mass market, off-price, and on-line marketplaces. There can even be a licensing settlement for Mattress Tub & Past shops in Mexico. Past (BYON) famous that negotiations are in progress for shops in different key markets across the globe.

The Mattress Tub & Past branded assortment included within the licensing program will run throughout the bed room, toilet, kitchen, and patio classes.

“That is only the start of our administration group’s mandate to monetize our mental property and belongings,” famous CFO Adrianne Lee.

Shares of Past (BYON) traded at their highest degree in additional than six weeks with a 13.3% rally on Tuesday afternoon.