Home / Knowledge / News / Textiles / JCP invests in Martha Stewart Living Omnimedia
JCP invests in Martha Stewart Living Omnimedia
08
Dec '11
J. C. Penney Company Inc. and Martha Stewart Living Omnimedia, Inc. announced they have entered into a strategic alliance and will join forces to create a unique and comprehensive retail experience featuring Martha Stewart products, know-how and advice.

Beginning in February 2013, customers will be able to visit distinct Martha Stewart retail stores inside the majority of jcpenney department stores. These Martha Stewart stores are intended to be destinations where consumers can experience an engaging and inspiring environment and buy a variety of affordable, high-quality home and lifestyle merchandise designed and curated by Martha Stewart and her team.

Staffed by trained associates, the Martha Stewart stores will also give consumers direct access to the products and educational tips that have made Martha Stewart America's leading lifestyle expert. J. C. Penney will market and source the products.

Under the terms of this 10-year commercial agreement, the two companies will also jointly develop an e-commerce site, expected to launch in 2013. The site will offer Martha Stewart expertise and enable consumers to purchase a wide range of home and lifestyle products, including those sold in the Martha Stewart stores inside jcpenney, and other merchandise designed or selected by Martha Stewart. MSLO is expected to receive in excess of $200 million from J. C. Penney over the initial 10-year contract period.

J. C. Penney has invested $38.5 million for 11 million newly issued shares of Class A common stock at $3.50 a share, for a 16.6 percent stake in MSLO. In addition, J. C. Penney will have representation on MSLO's Board of Directors.

MSLO also announced that it will pay a special dividend of $0.25 per share on Dec. 30 to shareholders of record as of Dec. 19.

Ron Johnson, chief executive officer of J. C. Penney Company, Inc., said, "I have long admired Martha Stewart's extraordinary influence on the way American families live and enjoy their lives. For nearly two decades she has been the primary person we turn to for advice regarding food, entertaining, decorating, and celebrating life's memorable moments.

"The opportunity to work with Martha and create an entirely new shopping experience, both in-store and online, is a once in a lifetime opportunity. The Martha Stewart brand embodies quality, beauty, inspiration and possibility and we intend for Martha Stewart stores to be a key centerpiece of our new strategy to transform jcpenney into America's Favorite Store."

Martha Stewart, founder and director of MSLO, said, "Ron Johnson is a true innovator and someone who has been fundamentally redefining the retail experience. I am greatly impressed with his plans for changing an American classic, J. C. Penney, to make it a very new and different shopping experience. To partner with J. C. Penney, Ron and his extraordinary team is a big and important step in realizing my dream of putting our Martha Stewart designed products within easy reach of an even broader consumer audience. I'm also very excited to work with J. C. Penney to create an online shopping experience, which will offer a broad range of Martha Stewart products. I cannot wait to get started on this new venture."


Must ReadView All

Bangladesh panel to revise minimum wage for garment workers

Apparel/Garments | On 16th Jan 2018

Bangladesh panel to revise minimum wage for garment workers

The Bangladesh labour and employment ministry recently formed a panel ...

Bruckner to supply dry finishing lines for textile project

Textiles | On 16th Jan 2018

Bruckner to supply dry finishing lines for textile project

Bruckner, a producer of high-tech lines for the dry finishing of...

Courtesy: Carrefour

Apparel/Garments | On 16th Jan 2018

Carrefour signs strategic agreement with Showroomprive

Carrefour, the second largest retail chain in the world, has...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search