NEW YORK — J.C. Penney Co. Inc. and Martha Stewart Living Omnimedia Inc. on Monday took a big stride toward resolving their legal dispute with Macy’s Inc.
The two firms revealed they have revised the partnership agreement covering their licensing and design deal that was at the center of the court battle with Macy’s. The lawsuit, which was filed in a New York state court by Macy’s in 2011, claimed that MSLO violated its deal to sell exclusive home goods in its stores when it inked a competing agreement with Penney’s. In addition to being able to sell Stewart home wares, Penney’s also bought a 16.6 percent stake in the design firm and scooped up a seat on the design firm’s board.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"