Kmart and Martha work out new deal.(Retail briefs)(Brief Article)
Home Textiles Today, May, 2004
Kmart and Martha Stewart Living Omnimedia have forged a new agreement that extends Kmart's exclusive relationship with the Everyday brand to 2009, amends some minimums demanded under a previous contract, and will expand the brand into furniture. The revised agreement extends the Martha Stewart Everyday distribution agreement by two years.
It also eliminates minimum guarantees by product category, although the aggregate minimum guarantee in the contract remains the same, the parties said in a joint statement. In addition, Kmart also said it will withdraw the February lawsuit it filed in bankruptcy court against MSO IP Holdings Inc. At the time, Kmart claimed MSO was demanding excessive royalties. MSO responded that Kmart was attempting to shave...
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