Martha Stewart recalls $65 million annual Kmart royalties that funded her business
Martha Stewart said on a podcast that her licensing deal with Kmart once generated as much as $65 million a year in royalties, which she used to develop her magazine and broader business. Kmart launched the Martha Stewart Everyday line in 1997, and Stewart said it eventually sold close to $2 billion in merchandise annually at its peak. She also noted that the partnership survived her legal troubles and Kmart’s 2002 bankruptcy.
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