Martha Stewart (MSO) Enters Multi-Year Agreement for Age Group for Pet-Care Products; Line Will be Sold at PetSmart Stores (PETM)
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Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) announced today that it has entered into a multi-year relationship with Age Group Ltd. to manufacture, market and sell pet-care products, which will be sold through PetSmart, Inc. (NASDAQ: PETM).
The line will include a wide range of pet accessories, including apparel, collars, leashes, bedding, grooming supplies, toys and more. The first products are expected to roll out in the second quarter of 2010.
Age Group Ltd., which will manufacture the new product line, has been in business for over 25 years. With over 15 licensed properties, the company's labels include Hello Kitty, Disney, Roca Wear, American Tourister and more. In addition, Age Group merchandises and designs for many retailers under private label agreements, including Macy's, Wal-Mart, Kmart, Target and Kohl's.
"I have always loved having a lot of pets - dogs, cats and birds, and consider them members of my family. It is very important to me that domestic animals be well fed, well groomed and well cared for, and I have always prided myself on the good health and happiness of my pets. I look forward to working with Age Group and PetSmart to provide other pet owners with the types of Martha Stewart-designed products that will keep pets happy, safe and healthy," said Martha Stewart, Founder of MLSO.
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