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Martha Stewart. The name conjures up images of a very unique brand....
For some, the Martha brand is perceived as a positive, powerful influence; a blueprint of successful entrepreneurship for women. Others hold a more negative view, and thought the Martha brand had run its course after the famous diva got into trouble with the government when she lied about her sale of Imclone stock. But, slowly and surely, Martha Stewart, the Brand, is baaaack....
Martha has been very busy since her reemergence on the business scene. A live, hour-long daily TV show, a 24 hour radio channel on Sirius, numerous merchandising and licensing deals, and a new deal with KB Home to design and build Martha Stewart homes within planned communities have kept her hopping. The first KB homes, about 300 of them in 2 communities in the $400,000 range, have sold. Stewart’s line of new paints—350 in all—debuts next year at Lowe’s.
Martha’s latest merchandising coup involves a deal with Macy’s to develop a line of Martha Stewart home store products for the powerful retailer next year. Interestingly, Janet Grove, CEO of Macy’s Merchandising Group, believes that Martha Stewart the woman is important, but said she believed in a recent interview that Martha’s aura transcends the woman.
Grove stated: “The brand will prosper in any situation.”
Martha Stewart Living, Everyday Food, body + soul and the new Blueprint magazine are also part of the Martha Stewart Living Omnimedia portfolio, keeping her brand highly visible in print media.
All of the experts who thought Martha’s “fifteen minutes of fame” were over, after her stint at Alderson, had better think again. Ms. Stewart has proven she has staying power.
Even with fresh, new-on-the-scene personalities like Rachael Ray vying with Martha for the daytime TV audience, Ms. Stewart seems to be holding her own. At least for now. And, ever-resourceful Martha Stewart shows no signs of slowing down at age 65. Media mavens have reported that she has begun to develop a line of food products. Martha is also creating a search engine of Martha Stewart-approved sites. Ms. Stewart is so busy conceptualizing, creating, researching and developing new ideas that it’s a wonder she has time to sleep!
It’s obvious, even now, that Ms. Stewart plans on stretching the equity she has built in her brand as far as it will go. And maybe, a softer side of Martha is emerging. She recently donated $5 million to Mt. Sinai Hospital in New York to set up the Martha Stewart Center for Living to promote healthy aging. Of course this might serve as a template for an idea that might go regional and then national one day. . .
What are your thoughts on Martha Stewart, the Brand?
• Do Martha’s brand, aura and image have staying power in spite of keen, fresh competition?
• Should she be stretching the equity she has built in her brand into so many categories?
• Will she ultimately be successful in gaining the business momentum she had in her pre-legal problem days, and get her company back to its profitable ways?
Stay tuned. . .
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Comments
Ted,
Good post. I believe in brands, although they seem to be out of favor with many "marketing experts." I also believe that experiential and personality-driven brands outlive the person.
In the case of Martha Stewart, it seems so much about her that she does need to continue on her redemptive path. At the end of the day, for Martha and for all brands, it comes down to trust, credibility and great experiences. In Martha's case, she is the face of the brand, so the burden of proof lies with her.
Posted by: Lewis Green | 11.29.06
I determine brand on my experiences with it. In this case, I haven't met Martha, but I have purchased some of her products, which have been good quality stuff.
That TV show was a baaaad experience and waste of my time, what?
Posted by: Jim Kukral | 11.29.06
Martha Stewart has a very powerful brand presence, love her or hate her. I think the Martha brand will endure. Since she was able to transcend all of the negative press around her ill-fated dumping of Imclone stock and her incarceration, it goes to show the world that Martha has legions of loyal fans who buy into her personal brand and all that it stands for. By the way, strong personal brands are cited (Martha included) and well-discussed by William Arruda on his blog at http://blog.williamarruda.com/blog/strong_personal_brands/index.html. I urge Daily Fix readers to check this out.
Posted by: Claire Ratushny | 11.29.06
Thanks for your candid and insightful observation, Lewis. You're right: personal brands should inspire trust, credibility and confidence. Interesting, Jim, that while you don't watch her show, you've had good experiences with Martha-branded products. So have millions of other Americans. That's what keeps Martha so strong. Her lifestyle books fuel interest in her tasteful products and the fact that this good taste is readily available to the masses. Positive experiences with these product purchases lead to additional purchases, and so on. It will be interesting to see what happens when not only KMart but Macy's offers Martha branded home product lines. Both retailers have a huge reach and it makes one wonder how MS plans to differentiate the products for each of them.
Posted by: Ted Mininni | 11.29.06
The interesting thing about Martha the Brand and (I'm guessing!) Martha the individual, too, is that her brand is one of those that inspires either love or hate. There's certainly no "mushy middle" for her, as our friend Mike Wagner would say.
So Martha is like Crocs shoes...to use another Wagner-ism...you love her, you hate her, but either way you tend to have a strong opinion about Martha.
Posted by: Ann Handley | 11.29.06
Anyone that can do that much creeps me out!
But her stuff is quality...
I have a freaking Martha Stewart Christmas Tree.
One of those KB homes in Tucson would sell for at least a mill.
Posted by: Tammy Strnatka | 11.29.06
Tammy,
Your observations crack me up. I saw an interview with Martha where she admitted that she doesn't have much time for sleep; she has too much to do! Actually, I think her mind's wheels are always turning and she's busy thinking up more things she can create, and that must keep her from sleeping. I also wonder how many other people have MS Christmas trees, sheets, draperies, dinnerware, bath towels. . .
Posted by: Claire Ratushny | 11.29.06
Thanks Claire, Have you ever watched her show!!! Oh my God the women labels string!!! and then she creates a lovely hanging spot for her different kinds of string. She's nuts if you ask me. But we should all be so driven. At least I'd actually have proof of the ideas I've never pursued.
Martha! You gotta love her even if she is creepy!
Posted by: Tammy Strnatka | 11.29.06