Macy's Launches Review of Martha Stewart Offering
CINCINNATI-Following yesterday's announcement of the deal between J.C. Penney and Martha Stewart Living Omnimedia (MSLO), Macy's said it has begun a review of its own home-products line under the Martha Stewart brand.
A statement issued by the department-store retailer said, "In light of the proliferation of Martha Stewart-branded product in the marketplace, Macy's is reviewing the Martha Stewart products sold at Macy's for potential changes in the future. No decisions have been made at this time."
The statement added, "Martha Stewart products in categories such as cookware, kitchen utensils, bed and bath will continue to be sold exclusively at Macy's until further notice. Martha Stewart is among a wide range of leading brands offered in Macy's home store, and we will continue to expand and improve our home offering based on localized customer preferences across the country."
Yesterday brought the announcement that J.C. Penney and MSLO had formed an alliance to create Martha Stewart stores-within-a-store at J.C. Penney stores across the nation, along with their joint effort in creating an e-commerce website devoted to Martha Stewart home products. As part of this agreement, J.C. Penney made an investment of $38.5 million, amounting to a 16.6 percent stake, in MSLO.