Sunday, March 16, 2008

Martha leaving Kmart 2010

Martha Stewart's licensing deal with Kmart, which at one point was generating $1 billion anually in sales, expires in January 2010, and it's pretty clear it won't be renewed.
“Right now we do not believe Kmart is our likely partner going forward,” president and ceo Susan Lyne said during the Bank of America 2008 Consumer Conference here. “However, as of January 2010 we can be in any other mass retailer,” and the company is free to pursue new deals now, she added.
If that wasn't clear enough, she added this zinger, "What is important for us is to be with someone who is investing in their business.”

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