Forbes: Martha Stewart Buys Emeril Franchise
Martha Stewart Living Omnimedia Inc. is bringing in a new celebrity: popular TV chef EmerilLagasse.
The New York-based media and merchandising company founded by domesticity mavenMartha Stewart announced Tuesday that it bought the rights to the Emeril Lagasse franchise of cookbooks, television shows and kitchen products for $45 million in cash and $5 million in stock at closing. The final price could rise to up to $70 million if certain benchmarks are achieved.
Martha Stewart did not acquire Emeril's Homebase, which includes Lagasse's 11 restaurants andcorporate office.
Sorry, correct me if I'm wrong, but isn't Emeril's image a little stale? I mean, I'm a huge foodie, and the minute I can get Food Network in HD in my area, I'll be all over that, but to me, "BAM!" is so 2002.
Then again, Martha Stewart Living Omnimedia, Inc. is a brand that is well past its sell-by date, losing money by the handcrafted beribboned cloisonee bucketful. Off the top of my head, Martha's lines of linens and housewares have been picked up and then dumped by at least three major department stores. Even the notoriety of going to prison didn't give her brand much more than a brief uptick.
In cases of dodgy looking mergers, pundits are always fond of analogies about "tying two things together to make another, better thing." I will refrain, and say that it looks like Martha is trying to revive her flagging fortunes by hitching her wagon to a falling star.
As for Emeril, bully for him for managing to successfully monetize his fifteenth minute.
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Martha Stewart Living Omnimedia Inc. is bringing in a new celebrity: popular TV chef EmerilLagasse.
The New York-based media and merchandising company founded by domesticity mavenMartha Stewart announced Tuesday that it bought the rights to the Emeril Lagasse franchise of cookbooks, television shows and kitchen products for $45 million in cash and $5 million in stock at closing. The final price could rise to up to $70 million if certain benchmarks are achieved.
Martha Stewart did not acquire Emeril's Homebase, which includes Lagasse's 11 restaurants andcorporate office.
Sorry, correct me if I'm wrong, but isn't Emeril's image a little stale? I mean, I'm a huge foodie, and the minute I can get Food Network in HD in my area, I'll be all over that, but to me, "BAM!" is so 2002.
Then again, Martha Stewart Living Omnimedia, Inc. is a brand that is well past its sell-by date, losing money by the handcrafted beribboned cloisonee bucketful. Off the top of my head, Martha's lines of linens and housewares have been picked up and then dumped by at least three major department stores. Even the notoriety of going to prison didn't give her brand much more than a brief uptick.
In cases of dodgy looking mergers, pundits are always fond of analogies about "tying two things together to make another, better thing." I will refrain, and say that it looks like Martha is trying to revive her flagging fortunes by hitching her wagon to a falling star.
As for Emeril, bully for him for managing to successfully monetize his fifteenth minute.
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