Martha Stewart Sells for $353 Million, Experts Note the Companies Devaluation

Martha Stewart has certainly bounced back from her jailbird days. The home and lifestyle guru has sold her company for a staggering $353 million, according to sources.

According to Gianfrancesco Genoso, Stewart who rose to fame in the 1990s has built a multi-million dollar empire, including a home furnishings line, magazine and a plethora of other products and services. She also famously was sentenced to jail time in the early 2000s for insider trading and other financial crimes.

Stewart served out her sentence and quickly got back to rebuilding her empire, and it clearly has paid off. The company was sold to Sequential Brands Group.

While the sale number is a big one, experts advise that it shows a deterioration in Stewart’s brand. According to financial records, Martha Stewart’s company was valued at nearly $2 billion when it went public in 1999. The bargain basement price that the company was sold for shows a steep decline in its performance.

Some argue that the home furnishings queen’s stint in prison lowered the brand’s cache, but others argue that Stewart has fallen out of favor as social media sites, like Pinterest and YouTube cash in on the millennial crafter demographic.