Martha Stewart to Launch New Crafts Line

Given her way with glitter and a glue gun, it was only a matter of time before this happened, and quite honestly, I'm surprised it took this long.

Martha Stewart Living Omnimedia, Inc. announced that the Martha Stewart Crafts line will debut on May 1st. The line will feature more than 650 items, including paper crafting materials and scrapbooking items, exclusive paper designs, embellishments, crafters tools, and even binders and storage systems.

The line will be available exclusively in Michaels stores in the US and Canada and at marthastewartcrafts.com.

"This line is an expression of my passion for crafting, a pursuit I have enjoyed throughout my life," said Martha Stewart, Founder of MSLO, in a recent statement. "At MSLO, we are steeped in the development of crafts, and all the products reflect our understanding of what crafters want and need because it is what we ourselves want and need-practical tools, as well as a wonderful array of beautiful and inspiring materials."

"Martha Stewart has been developing crafting ideas for more than 15 years, as featured in our magazines and on our television shows. This introduction of the Martha Stewart Crafts line is a natural extension for the merchandising segment of our business," stated Robin Marino, President of Merchandising at MSLO. "Our new high-quality, beautifully designed products manufactured by EK Success will inspire and delight consumers." Ms. Marino added: "With broad distribution throughout North America and a reputation for being a leading retail crafts destination, Michaels is the ideal partner for this national launch."

"We are very excited to be offering the Martha Stewart Crafts line, and are confident that this relationship will significantly benefit the crafts consumer, who looks to Martha Stewart for inspiration and new products, and who counts on Michaels stores to provide the materials they need for their projects," stated Gregory Sandfort, President/COO of Michaels Stores, Inc.

"We are proud to be a part of creating this unique product line that embraces a lifestyle as well as a craft," said Chris Skinner, CEO of EK Success. "The Martha Stewart Crafts line combines the power of the Martha Stewart brand name with the product expertise of EK Success, offering unique features such as how-to tips, craft project ideas, recipes, and creative inspiration."

Dip in Martha Stewart Living Omnimedia Shares

Forbes is reporting that shares of Martha Stewart Living Omnimedia stock are off more than 20% for the year to date so far, and 13% since late last month.

Bear Stearns analyst, Michael Meltz, mentioned the recent price weakness yesterday in a note to clients. "While valuation is still not cheap, the pullback makes the shares somewhat more attractive given the company's growth profile," Meltz wrote.

He went on to tell his clients that he thinks the shares could see an upswing with the recent redesign of Martha's web site, and new deals and products in the pipeline. He noted that a lot of MSLO's new merchandising alliances start to appear in the Spring and Summer months (i.e., crafts at Michaels stores, paint at Lowe's, new home products at Macy's, etc.), and added, "We think the future looks bright for Martha Stewart, and view the company as one of the few real growth stories within the broader media space."

He updated his rating on the company to "peer perform" from "underperform."

In trading yesterday, traders seem to respond slightly, by sending shares of MSLO up 4.4% to $17.63. If you have been thinking about putting some of your money on Martha, now just might be the time.