JCP, MSLO Amend Agreement for Martha Stewart Products
July 13, 2012,
NEW YORK-J.C. Penney and Martha Stewart Living Omnimedia (MSLO) have amended their original agreement calling for the establishment of Martha Stewart home stores within J.C. Penney stores.
According to a filing with the U.S. Securities and Exchange Commission, the amendment adds certain undefined products to the offerings that will be available in Martha Stewart shops at J.C. Penney stores. It also adds certain, and again undefined, product categories to the definition of non-exclusive product categories. It also modifies the products that will be sold in one of the product categories, again not specified, established in the original agreement.
The filing added that, in regard to the sales of products in the party-products category, MSLO will have the right to terminate J.C. Penney's right to sell and distribute these products on six months' prior notice to the retailer, beginning Feb. 1, 2016. This termination would not affect the minimum guaranteed payments for sales commissions under the original agreement, the filing said.
J.C. Penney and MSLO announced their collaboration last December, which called for the establishment of Martha Stewart home stores within J.C. Penney stores and the creation of a separate e-commerce website devoted to Martha Stewart products.
Other Articles By Author
Von Tobel Cites Brass Textures Among Top Trends
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.