Article Number : 1019 |
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| Date | 4/28/2006 10:31:08 AM |
| Written By | LGM & Associates Technical Flooring Services |
| View this article at: | //floorbiz.com/BizResources/NPViewArticle.asp?ArticleID=1019 |
| Abstract | NEW YORK, April 24 /PRNewswire-FirstCall/ -- Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) today announced a multiyear agreement with Safavieh, a leading manufacturer and importer of fine rugs, to manufacture a new line of Martha Stewart-branded area rugs for the company... |
| Article | NEW YORK, April 24 /PRNewswire-FirstCall/ -- Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) today announced a multiyear agreement with Safavieh, a leading manufacturer and importer of fine rugs, to manufacture a new line of Martha Stewart-branded area rugs for the company. The line will be introduced at the Atlanta International Area Rug Market in January 2007 and at retail in Spring 2007. Created by the MSLO design team with Martha Stewart's guidance, the rugs will be offered in a full range of sizes and styles, distinguished by the high quality and innovative design that is synonymous with the Martha Stewart brand. It will include handmade and machine-made area rugs, as well as wire- loom rugs, targeting the consumer who desires great design at affordable prices. Expected to retail for $200 to $3,000 and above, the rugs will be available through independent furniture stores and independent rug stores. The new rug line is an important addition to MSLO's expanding home furnishings program. It complements MSLO's Martha Stewart Signature furniture line with Bernhardt, which is sold at independent furniture dealers nationwide. Through its partnership with KB Home, MSLO expects to showcase the area rugs in the model homes in the Martha Stewart-designed communities throughout the country. Federated Department Stores, with which MSLO earlier this month signed a multiyear distribution partnership to develop an all-new line of Martha Stewart Collection home merchandise exclusively for Macy's in fall 2007, is also interested in the new rug line for fall 2007 and beyond. Robin Marino, President of Merchandising for MSLO, said, "Area rugs are a perfect addition to our expanding merchandising program. The products will further round out our furniture assortment and complete our furniture galleries, enabling consumers to decorate their home in true Martha Stewart style. We are very pleased to be embarking on this enterprise with Safavieh, a renowned rug manufacturer we have always admired and a company with whom we share an appreciation of high quality and superior design." "Martha and the MSLO design team cleverly take the best of traditional and contemporary designs and translate them into simple classics that people love to have in their homes," said Arash Yaraghi, co-president of Safavieh. "Safavieh is thrilled to create a rug program that can be coordinated with MSLO's well-made, beautifully designed furniture and sold to furniture stores and upscale floor coverings dealers, making it easy for consumers. Consumers will get the best of Martha Stewart's style and taste and the quality the industry expects from Safavieh." Martha Stewart, MSLO's Founder, stated: "Area rugs are an important design element in the composition of a home, be it a small entryway or a large living room. We are designing an extraordinary collection of rugs based on our archive of ideas and singular patterns, some of them inspired by rugs that we have personally been collecting for decades. No matter what your home d??cor is, you will be able to find a Martha Stewart area rug that will help complete that room, adding comfort, warmth and impeccable style." About MSLO Martha Stewart Living Omnimedia, Inc. (MSLO) is a leading provider of original "how-to" information, inspiring and engaging consumers with unique lifestyle content and high-quality products. MSLO is organized into four business segments: Publishing, Broadcasting, Merchandising, and Internet/Direct Commerce. Martha Stewart Living Omnimedia, Inc. is listed on the New York Stock Exchange under the ticker symbol MSO. About Safavieh Safavieh is a leading manufacturer and importer of fine rugs. Established in 1914 in the capital of Persian weaving masters, the company brings three generations of knowledge and experience to its award-winning collections. Based in the United States since 1978, Safavieh has been a pioneer in the creation of high quality hand-made rugs, a trend that revolutionized the rug business in America. Its collections range from the finest antiques and historical reproductions to the most fashion-forward contemporary and designer rugs. Safavieh combines rug and home furnishings showrooms with a varied wholesale business, supplied by its own production lines from the classical rug making centers of the world. The company is headquartered in Port Washington, New York. Its flagship showroom is located at 153 Madison Avenue in New York City. |