- Jan 7, 2002
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DETROIT -- Kmart Corp. is accusing Martha Stewart?s company of overcharging it for the exclusive rights to sell housewares and other products bearing the domestic maven?s name.
Martha Stewart Living Omnimedia Inc. said Friday that Kmart?s interpretation of their contract would cut what it gets from Kmart by millions of dollars and said it would contest Kmart?s filing.
The controversy arises as Stewart is on trial for allegedly lying to investigators about why she sold ImClone Systems stock in 2001 just before it plunged on a negative government review of an ImClone drug. She stepped down last June as chairman and CEO of Martha Stewart Living but remains its biggest stockholder.
Troy-based Kmart, which emerged from bankruptcy in May, has stood by its Martha Stewart Everyday line, touting the brand as one of its main assets despite Stewart?s legal troubles
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Martha Stewart Living Omnimedia Inc. said Friday that Kmart?s interpretation of their contract would cut what it gets from Kmart by millions of dollars and said it would contest Kmart?s filing.
The controversy arises as Stewart is on trial for allegedly lying to investigators about why she sold ImClone Systems stock in 2001 just before it plunged on a negative government review of an ImClone drug. She stepped down last June as chairman and CEO of Martha Stewart Living but remains its biggest stockholder.
Troy-based Kmart, which emerged from bankruptcy in May, has stood by its Martha Stewart Everyday line, touting the brand as one of its main assets despite Stewart?s legal troubles
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