Martha Stewart Advertisers Worry, But Show Support
NEW YORK -- With a House committee awaiting records from Merrill Lynch on Thursday regarding the share dealings of Martha Stewart, media analysts and ad buyers remained mixed about how the ImClone scandal will affect her company Martha Stewart...
NEW YORK--With a House committee awaiting records from Merrill Lynch on Thursday regarding the share dealings of Martha Stewart, media analysts and ad buyers remained mixed about how the ImClone scandal will affect her company Martha Stewart Living Omnimedia and its flagship product Martha Stewart Living.Blake Callaway, who works in the media kitchen at Kirschenbaum, Bond, and Partners said, "We're taking the position of innocent until proven guilty, but we are monitoring it, keeping an eye on them." Still, he acknowledged that the information coming out "doesn't look great."Reem Acra, a bridalwear designer who advertises heavily in Martha Stewart Weddings, said, "It's important to separate Martha Stewart the individual and Martha Stewart the bridal entity. We have a great partnership with the magazine and look forward to continuing it." Her spokeswoman added that Acra will be advertising in the magazine's fall issue.Nicole Miller, who also advertises heavily in the Weddings issue, said that, in addition to sexism tainting the coverage of Stewart, "I'm bored. There's WorldCom today, Martha Stewart was yesterday. Every week something pushes the last thing out of the news, it all dissipates. It's unbelievable how many scandals have been in the news lately."But others were less convinced the drama would blow over and weren't so sure a separation between Martha Stewart, the brand, and Martha Stewart, the person, could be made."There is no closer relationship between the personality and the brand than with Martha Stewart," said Ellis Verdi, president of DeVito/Verdi, a boutique ad agency that has done campaigns for companies such as Daffy's and Circuit City."That's a wonderful business proposition because she actually controls the brand from every level, but it's also a tremendous risk since you're dealing with a person, a person who has foibles." For ad buyers, he said, "it's balancing a great success story against the damage caused."But when asked specifically about whether he would place ads in her magazines for the fall, Verdi laughed and said, "That's no comment."On Thursday, shares of Martha Stewart Living Omnimedia rebounded 5.8 percent, finishing the day at $11, up 60 cents from its Wednesday close, which remains the lowest its shares have gone in the year to date. Shares began the month at $19.40 and have traded as high as $23.50 in the past year.The gains came as the house committee investigating ImCloneawaited detailed phone records from Merrill Lynch, the company which employed Stewart's stockbroker Peter Bacanovic.The House Energy and Commerce Committee is requesting extensive phone records and client lists from Bacanovic, in hopes that they will shed light on what he knew about ImClone and whether he improperly passed knowledge onto Stewart, who sold her 4,000 shares of the stock the day before it was announced that the Food and Drug Administration would not be approving ImClone's cancer drug.It was not clear whether all of the records had been submitted by the end of the working day Thursday.Stewart has publicly denied any wrongdoing and spokesmen for her have said that she had ordered Bacanovic to sell her stock when it fell below $60 a share, which it did on December 27, the day she executed the sale.But in recent days, an assistant to Bacanovic, Douglas Faneuil, who had backed this up, recanted on his former statements and said he had been pressured by Bacanovic to tell Merrill Lynch that such an agreement had existed."
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty