Martha Stewart changing it up, trying to connect with millennials

By Yvette C. Hammett  |  July 13, 2016 at 2:51 PM
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CHELSEA, N.Y., July 13 (UPI) -- At 74, Martha Stewart is changing it up, working to connect with a newer generation -- millennials.

Ten years later than many Americans retire, Stewart sold her once multi-billion business in December 2015, for a mere $353 million, the price of its stock less than the purchase price for a Martha Stewart oven mitt at Macy's, Luxury Listings NYC reported.

The company, Martha Stewart Living Omnimedia Inc., was purchased by Sequential Brands Group Inc., whose brands include Jessica Simpson and Avia. Shares of the home-decor company rose 37 percent in two days amid reports of the takeover.

Stewart is now chief creative officer at Sequential Brands Group, a significant shareholder in the company and sits on its board of directors. She is working for a CEO half her age and is often seen with controversial celebrities and artists.

"Martha Stewart connects with people of all ages -- from millennials to boomers -- you name it," said Yehuda Shmidman, 35, Sequential's CEO. "She's here to teach smart, stylish and functional solutions to help everyone live better."

"I think every business is trying to target millennials. But who are millennials? Now we are finding out that they are living with their parents," Stewart said.

"They don't have the initiative to go out and find a little apartment and grow a tomato plant on the terrace. I understand the plight of younger people. The economic circumstances out there are very grim. But you have to work for it. You have to strive for it. You have to go after it. They need to learn not just about how to make money," she said, "but how to plant a tree and grow their own spinach."

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