Kmart and Martha work out new deal
April 26, 2004,
TROY, Mich. — 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. The companies also said that Everyday will more into a new product category: ready-to-assemble furniture.
Today's announcement did not clarify how those issues had been resolved.