Home Depot, Stewart expand ties
NEW YORK - Home Depot Inc. will start selling Martha Stewart-branded paint and cleaning products next year in addition to the home decor and closet organization lines announced in September.
Martha Stewart Living Omnimedia Inc.’s deal with Kmart ends in January. Home Depot will start selling Martha Stewart cleaning products in January, with home decor and closet organization lines to follow. The paint line, which will replace Home Depot’s line of Ralph Lauren paint, appears in March.
The partnership allows Home Depot to expand its offerings of products selling for less than $50, said Morningstar analyst Mike Taggart.
The new paint line’s 280 colors can be mixed for use indoors or out.
The Martha Stewart Clean line will consist of about 10 cleaning products with Home Depot’s Eco Options label, which means they meet certain environmental criteria.
Kmart began selling the Martha Stewart Everyday home line in 1997, but in October Sears and Martha Stewart did not extend the contract.
Martha Stewart Living has reported that 43 percent of its merchandising revenue in 2008 came from the Kmart line. But the amount had fallen from 2007 as Kmart lowered its royalty payments.