The Home Depot and Martha Stewart Living Omnimedia Extend and Expand Agreement for Popular Martha Stewart Living Product Line
Two Brands Founded on Do-It-Yourself Principles To Continue To Teach, Inspire and Provide Tools For Home Improvement
ATLANTA, Feb. 29, 2012 /PRNewswire/ -- The Home Depot®, the world's largest home improvement retailer, and Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) today announced they have extended their agreement to offer Martha Stewart Living branded products in The Home Depot's 2,000-plus stores through March 2016, and will offer an expanded array of products. The pact builds on the successful partnership between The Home Depot - the go-to destination for home-improvement products - and the Martha Stewart brand, which is known for providing consumers with quality, practical design ideas and affordable home-project solutions.
Since launching in January 2010, the Martha Stewart Living line, available in categories such as interior and project paint, outdoor furniture, kitchen cabinetry, carpeting and bath vanities, has been a strong addition to the offerings at The Home Depot. The new agreement will include these categories and will also include a new craft furniture line as well as a broader array of holiday merchandise.
In addition, the Martha Stewart Living paint program, available only at The Home Depot, was recently re-launched and now all of the 280 designer colors in the Martha Stewart Living palette can be mixed with Glidden-based paint, including the new Duo Paint + Primer.
"Martha Stewart Living has been a great partner and a natural fit, and the line has tremendous appeal, particularly for women who represent half of our customers," said Gordon Erickson, senior vice president of Decor for The Home Depot.
Lisa Gersh, president and COO of MSLO stated: "The Home Depot and Martha Stewart have both inspired a do-it-yourself movement that is enjoying a resurgence in this country. It's a powerful combination. We're as excited about this partnership today as we were when it was first announced and we look forward to continuing to build on our offerings with new designs in new categories."
Research has demonstrated that the addition of the Martha Stewart brand in The Home Depot stores resulted in some consumers shopping longer and spending more. (The Home Depot internal research, 2011)
About The Home Depot
The Home Depot is the world's largest home improvement specialty retailer, with 2,253 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico and China. In fiscal 2011, The Home Depot had sales of $70.4 billion and earnings of $3.9 billion. The Company employs more than 300,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
About Martha Stewart Living Omnimedia, Inc.
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) is a diversified media and merchandising company, inspiring and engaging consumers with unique lifestyle content and distinctive products. The Publishing segment encompasses the company's print and digital businesses and is comprised of four magazines, including MSLO's flagship publication, Martha Stewart Living, periodic special issues, books, websites, digital apps, blogs, and more. The Broadcasting segment produces the Emmy-winning, daily television series, "The Martha Stewart Show," and other original programming on Hallmark Channel, including "Mad Hungry with Lucinda Scala Quinn." Broadcasting also encompasses Martha Stewart Living Radio on SIRIUS XM Channel 110. In addition to its media properties, MSLO offers high-quality Martha Stewart products through licensing agreements with carefully selected companies, including the Martha Stewart Collection exclusively at Macy's, the Martha Stewart Living line of home-improvement products at The Home Depot, Martha Stewart Crafts with EK Success at Michaels, Jo-Ann Fabric, and independent retailers, Martha Stewart Pets at PetSmart, and the Martha Stewart Home Office with Avery at Staples. In December 2011, the Company entered into a strategic alliance with J.C. Penney Company, Inc., which includes a merchandising agreement to build distinct Martha Stewart stores in jcpenney department stores, and to jointly develop an e-commerce site, both of which are expected to launch in 2013. In 2008, Emeril Lagasse joined the Martha Stewart family of brands; MSLO acquired the assets related to Lagasse's media and merchandising business, including television programming, cookbooks, and emerils.com website and his licensed kitchen and food products. For additional information about MSLO, visit www.marthastewart.com.
SOURCE Martha Stewart Living Omnimedia, Inc.
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