The New York Times reports this morning that JC Penney is spending $38.5 million to acquire a 16.6 percent stake in Martha Stewart Living Omnimedia.
According to the story, JC Penney “as part of a 10-year partnership, plans to introduce ministores and a revamped online presence dedicated to the Martha Stewart brand beginning in February 2013, these people said. The in-store areas will be stocked with Martha Stewart products, and will have trained employees who will provide advice and tips not dissimilar to Apple’s Genius Bar concept, these people added.”
JC Penney hired Ron Johnson, the former Target executive who helped create Apple’s retailing business, as its new CEO earlier this year.
According to the story, JC Penney “as part of a 10-year partnership, plans to introduce ministores and a revamped online presence dedicated to the Martha Stewart brand beginning in February 2013, these people said. The in-store areas will be stocked with Martha Stewart products, and will have trained employees who will provide advice and tips not dissimilar to Apple’s Genius Bar concept, these people added.”
JC Penney hired Ron Johnson, the former Target executive who helped create Apple’s retailing business, as its new CEO earlier this year.
- KC's View:
- I remain skeptical about how much of an impact Ron Johnson is going to have at JC Penney ... but I have to say that the notion of Martha Stewart ministores complete with Genius Bars sounds pretty interesting.
