K-Mart Extends Stewart Deal
Reuters: Martha Stewart, Kmart Extend Deal
Martha Stewart Living Omnimedia Inc. and Kmart Holding Corp. on Monday said they amended and extended their deal to sell the style guru’s products in Kmart stores, just weeks after Martha Stewart was convicted of lying about a stock sale.
The two-year extension through 2009 adds new Martha Stewart Everyday exclusive merchandise such as ready-to-assemble furniture to the collection that already includes home decorating items, housewares and baby goods.
It also eliminates certain minimum payment guarantees that had been at the center of a lawsuit that Kmart filed against Martha Stewart Living in February. Kmart said on Monday it has agreed to drop that lawsuit.
The deal comes less than two months after company founder Martha Stewart was found guilty of lying to investigators over a suspicious stock sale, casting doubts over the future of her business.
Interesting. And certainly unexpected. Perhaps K-Mart is trying to add a bit of gansta street cred to its lineup.
Or maybe K-Mart is repaying Martha’s loyalty for sticking with them while they were undergoing severe problems and everybody else cut and run. Or maybe K-Mart’s customers really don’t give a shit about lyin’ to the Feds.
Coming soon: a women’s wear line that emphasizes bold, vertical stripes, in addition to a line of accessories specifically designed for orange jumpsuits.