facebook
twitter
rss
account
search
search
 

Martha Stewart defends J.C. Penney deal

March 5, 2013 at 12:41 PM   |   Comments

| License Photo
NEW YORK, March 5 (UPI) -- Household goods trendsetter Martha Stewart said in New York State Supreme Court Tuesday that signing a deal with J.C. Penney was beneficial to consumers.

Stewart's company Martha Stewart Living Omnimedia already had a deal with department store Macy's when MSLO sold 16.6 percent of itself to rival J.C. Penney in December 2011, CNNMoney reported.

Macy's thought it had an exclusive deal with MSLO and filed lawsuits against J.C. Penney and MSLO.

When asked in court if having two stores in the same mall can carry her products, Stewart said, "They might have two houses."

The deal with J.C. Penney involved setting up MSLO kiosks or booths inside J.C. Penney stores. That way, it was reasoned, MSLO could circumvent any exclusivity spelled out in the deal with Macy's, because their contract allowed MSLO to open stores of its own.

J.C. Penney paid $38.5 million to buy its 16.6 percent of MSLO.

In the process, Martha Stewart lost a friend.

Macy's Chief Executive Officer Terry Lundgren said he considered Stewart a friend, but that he "was literally sick to my stomach" when he first heard of the J.C. Penney deal.

The two have not spoken since the deal was announced, CNNMoney reported.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Navy tests MQ-8C unmanned helos Navy tests MQ-8C unmanned helos
2
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
3
Harris selected for geospatial data products Harris selected for geospatial data products
4
Sweden plans to replace its Defense and Security Export Agency Sweden plans to replace its Defense and Security Export Agency
5
Throwback Thursday: Facebook launches old-school 'Rooms' app Throwback Thursday: Facebook launches old-school 'Rooms' app
Trending News
Around the Web
x
Feedback