With a multimillion-dollar lifestyle empire and a personal net worth of $300million, Martha Stewart has nothing to complain about, but she does have one regret - not buying Kmart when she had the chance. 'We thought about buying it, but we didn't do it, and we should have,' Stewart said in an interview with The Associated Press. 'That could have been our store — KMartha!' Stewart, 74, pointed a finger of blame for the failed merger at another executive at Martha Stewart Living who was 'less bold' than she was and was against a buyout. Regret: Martha Stewart, 74, says she wishes she had purchased the discount chain Kmart when she had the chance No love lost: A long-time partnership between Martha Stewart Living and Kmart ended in 2009 'We'd have a fantastic chain of stores right now,' she said.A spokesman for Sears Holding Corp., the Hoffman Estates, Illinois-based company that owns Kmart, declined to comment.For more than a decade, Kmart sold Martha Stewart-branded furniture, towels and other home decor.
The partnership unraveled and the companies parted ways in 2009. Now, Martha Stewart products are sold at several stores, including home improvement retailer Home Depot, department store chain Macy's and craft retailer Michaels.Not everything about Kmart was a good thing: Stewart wasn't a fan of its offices in Troy, Michigan. 'It was one of the most horrible headquarters,' Stewart said. 'Just look at the pictures. It was an architectural nightmare.'Kmart moved out of the space in 2006 and the site is currently empty and owned by The Forbes Co., which owns a high-end shopping mall across the street. The company has no relation to the business magazine. Queen of living well: Stewart said she hated Kmart's old offices in Troy, Michigan, which she slammed as an 'architectural nightmare' New chapter: Brand management company Sequential Brands Group is in the process of buying Martha Stewart Living Omnimedia Inc. for $353million. Stewart will be on the board of Sequential and be creative directorFounded in 1966, Kmart filed for Chapter 11 bankruptcy protection in early 2002, leading to the closing of about 600 stores, termination of 57,000 Kmart employees and cancellation of company stock.
In May 2003, the retail chain emerged from bankruptcy, and in 2005 a resurgent Kmart purchased the once-dominant Sears department store chain for $11billion. Stewart is currently focused on another deal. Brand management company Sequential Brands Group is in the process of buying Martha Stewart Living Omnimedia Inc. for $353million, a fraction of the $2billion the company was worth after Stewart took it public in 1999. Sequential, based in New York, also owns the Jessica Simpson clothing brand. It expects the deal to close by the end of the year. Leading lady: Martha Stewart speaks onstage during the 2015 Friends of Hudson River Park Gala at Hudson River Park's Pier 62 on October 8, 2015 in New York CityThe lifestyle guru, who is a divorced mother of a grown daughter named Alexis, was infamously caught up in an insider trading scandal in 2002 and served five months in a minimum-security prison. Her run-in with the law, however, did nothing to hamper her success in business. Stewart said she is 'very enthusiastic' about her company's new owners and expects Sequential's team to grow the brand.'I will be on the board of Sequential and be creative director,' she said, 'so my job is only getting bigger.'
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