Home Depot to sell Martha Stewart home goods 2010
BANGALORE/NEW YORK (Reuters) - Home Depot Inc will begin selling next year a line of home improvement and other products that feature the Martha Stewart brand, the companies said on Monday.
Martha Stewart Omnimedia Inc and Home Depot declined to reveal any financial terms or specify the duration of the agreement.
Robin Marino, Martha Stewart's president and chief executive of merchandising, called the deal "long term" and said it has the potential to become the company's largest in terms of retail sales.
The arrangement begins in January 2010, the same time that another retail merchandising detail with K-Mart ends, Marino said.
"We plan to be extremely aggressive at marketing these new businesses," Marino said. "The Home Depot has made a very strong commitment that will be instrumental in supporting this program."
The companies will start selling products in the outdoor living category in January, such as patio furniture, said Gordon Erickson, senior vice president of merchandising at Home Depot. Later, they will sell home decor and organization items, including a new closet organization system.
The outdoor living line will include products starting at $399 and going up to $1,999, the companies said.
Martha Stewart is best known for the company's television program featuring its founder as host, as well as the namesake magazine that features lifestyle and home decoration tips.
The company also relies on merchandising deals with companies such as retailers Macy's Inc and Wal-Mart Stores Inc, which sell Martha Stewart-branded products at their stores.