WOW!! For JCPenney - This is HUGE! And seems like just the right match and merge. Just released in the news today, Martha Stewart Living will be partnering up with JCPenney. According to FOX Business news, "Under the terms of the deal, Martha Stewart retail stores will be built inside the majority of JCPenney department stores by February 2013 and the two companies will develop an e-commerce sit." Looks like the new JCPenney CEO Ron Johnson (formally of Apple) made no hesitations in coming on board and making some serious, and in my opinion much needed changes. Ron Johnson said in a statement, “The Martha Stewart brand embodies quality, beauty, inspiration and possibility; we intend for Martha Stewart stores to be a key centerpiece of our new strategy to transform JCPenney into America's Favorite Store."
JCP NYC opened July 2009
Although I am no longer with JCPenney (from their last strategic move to restructure two years ago), I still believe in their company being able to make a difference. It's just all a matter of having the right people in place to make that difference. First bringing in Sephora, than American Living designed exclusively by Ralph Lauren for JCPenney, than the Manhattan store and now - Martha Stewart - Fan-frickin -tastic!
Jeff and I watch Boardwalk Empire weekly and love it. And I say this because a statement comes to mind in reference to strategies. The character Arnold Rothstein said to Nucky Thompson something like this, "When you don't have a play, you stay out of the game. When the RIGHT play comes along, you bet it all." JCPenney may not have quickly joined the band-wagon of celebrity endorsed merchandise or ad campaigns like many retailers have recently done in order to capture business (ie Sears and the Kardashians - blah!) because IMO they (JCP) were more selective in teaming together with a force that is to be reckoned with: Martha Stewart (yeah - LOVE her! And she's a LEO from Jersey too - Jersey City to be exact!!)
Mark your calendars and save the date!
Martha Stewart Living in select JCPenney stores by 2013!
The Home division is an area JCPenney has struggled with, but (IMO) I believe now it will have added value and staying power in joining forces with the Queen Bee of Homemaking - Martha Stewart. Martha said, “To partner with JCPenney, Ron and his extraordinary team is a big and important step in realizing my dream of putting our Martha Stewart designed products within easy reach of an even broader consumer audience.” I just wonder if they might also carry her line of paint, since it's being dropped at Home Depot? Anyhoo.... CONGRATS JCPENNEY and CONGRATS MARTHA STEWART on your new (10 year) venture... and MUCH good luck to JCPenney in getting all the stores ready for Martha... with flawless execution as only Martha would EXPECT.
You can read more about the financial strategies, comments, and the plan at:
Wow... now I'm even happier we chose Martha Stewart paint colors to call our new place home... And speaking of which, I must now get back to a few projects I'm working on... along with driving around here, getting to know our new area!
Thanks for stopping by!!