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Partnership with Martha Stewart a Hit for KB Homes and CEO Jeff Mezger '77

Partnership with Martha Stewart a Hit for KB Homes and CEO Jeff Mezger '77

August 20, 2008

Jeff Mezger Martha Stewart(2).jpgAugust 20, 2008, Greencastle, Ind. - "It's one of the three top-selling communities in Denver," Jeffrey Mezger, president and chief executive of KB Home and 1977 graduate of DePauw University, says of a joint venture with Martha Stewart in Colorado, which is celebrating its one-year anniversary. "Since launching KB Home Stapleton: Homes Created With Martha Stewart, KB has sold 43 homes and will deliver 35 of them this year," reports the Denver Post. "Year-to-date sales at KB Home Martha Stewart are 38 percent higher than the 11 other builders in the Stapleton master plan, according to MetroStudies." (photo, by the Post's Kathryn Scott Osler, shows Mezger and Stewart at the community's anniversary celebration)

Margaret Jackson writes, "The community's success has been a bright spot in what has been a tough market locally and for national builders such as KB Home. Sales of new homes in the seven-county Denver metro area were down 48.6 percent in June compared with last year, according to a survey by Hanley Wood Market Intelligence. KB's revenues totaled $639.1 million in the second quarter of 2008, down from $1.41 billion in the second quarter of 2007. The company KB Martha Stewart Rendering.jpgreported a net loss of $255.9 million for the quarter."

The article notes that KB and the domestic diva have partnered on 10 communities.

Read the complete story at the Post's Web site.

Learn more about Jeff Mezger in this previous article.