The Food Network is stirring things up in the kitchen and ready to take a big piece of the retail pie. The cable channel that whipped up major successes like Rachael Ray announced today that they will launch Food Network-branded cookware, dinnerware and kitchen gadgets in Kohl’s stores nationwide and online starting in the fall of 2007.
The deal comes just a month after Kohl's announced plans to launch a fashion and lifestyle brand created by Vera Wang. The Food Network deal marks the first national home merchandise launch for Scripps, the company that owns the Food Network, HGTV, DIY Network, GAC and Fine Living.
According to Kohl’s president Kevin Mansell, “[The deal] is yet another way Kohl's continues to deliver on our mission of brands, value and convenience while further differentiating in the marketplace."
Food Network president Brooke Johnson said “the development of a housewares line will enable us to reach new consumers as well as the passionate and loyal viewers of Food Network."
What does this mean for the public? If you love to cook, you’ll now have quality products from the celebrity chefs you know and love. And if you own stock in Scripps, your shares have already risen 8 cents since the announcement this morning, bringing the value of each share to $47.72. It sounds like a sweet deal to me.
Posted by Lance Buckley on September 27, 2006 11:12 AM
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