Stewart's sales boom despite prison threat
Martha Stewart could be heading for a spartan prison cell, but more people than ever want her to furnish their homes.
Sales of Martha Stewart Signature Furniture line have rocketed since the decorating diva’s widely publicised criminal conviction.
Demand for Stewart-designed furniture is so strong that Bernhardt Furniture is unveiling 62 new Stewart pieces, in a collection titled “Lily Pond,” at the International Home Furnishings Market in High Point, North Carolina. And a fourth Stewart collection is in the works for 2005.
“We’ve seen double-digit increases in sales over the past six to eight weeks,” said Alex Bernhardt, chairman and chief executive of the Lenoir, North Carolina-based furniture company. “And we’ve signed up about a dozen new customers.”
Stewart was convicted on March 5 of lying to investigators, conspiracy and obstruction of justice, all related to her sale of ImClone Systems stock in 2001, just before it nose-dived.
Legal experts expect her to be sentenced to 10 to 16 months in prison. Stewart’s lawyers are seeking a new trial.
Bernhardt said he was worried sales would take a hit when Stewart’s conviction came down just as Bernhardt was shipping pieces of its third Martha Stewart line, “Turkey Hill”, to retailers.
“I was braced,” he said. “But it never happened.”
Instead, the line has strengthened its position as Bernhardt’s top performer. None of Bernhardt’s 275 retail clients have cancelled orders, he said.
