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.
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.