Martha Stewart cafe set to open in New York City

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Martha Stewart Living, which sells lifestyle magazines and cooking products, reported a $1.8 million loss last year

Published: 10:23 EST, 3 December 2014 | Updated: 12:53 EST, 3 December 2014

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Martha Stewart is set to expand her home goods empire by opening a cafe in New York City.

According to Bloomberg, the eatery will be located in the Starret-Lehigh Building in Chelsea, where Martha Stewart Living is headquartered.

The opening date has not yet been revealed, nor is it clear whether the cafe will serve recipes created by the 73-year-old homemaking maven herself.

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The Martha empire: Martha Stewart is set to expand her home goods empire by opening a cafe in New York City

Location, location: The eatery will be located in the Starret-Lehigh Building in Chelsea, where the Martha Stewart Living is already headquartered

Claudia Shaum, a spokeswoman for Martha Stewart Living Omnimedia Inc, told AdAge that cafe managers are now hiring baristas for the soon-to-be-open cafe.

The news comes in the wake of major financial losses for Martha's company, Martha Stewart Living Omnimedia - to be precise, a $1.8million loss last year.

According to AdAge, in October it agreed to farm out most of its magazine operations to Better Homes and Gardens publisher Meredith Corp. to reduce costs.

Some speculate that competitors like Gwyneth Paltrow - who recently opened her second Goop pop-up store - and Blake Lively are to blame for the loss.

In early November, Gwyneth announced the opening of a pop-up shop in Dallas, Texas, where shoppers could buy the products featured on her lifestyle website.

This was the second pop-up shop for Goop. In May, she opened her first in Los Angeles' Brentwood Country Mart, where the pricey goods on the shelves included $650 vintage spoons and a $2,350 vintage Christian Dior backgammon set.

Head to head: Some speculate that competitors like Gwyneth Paltrow - who recently a Goop pop-up store in Dallas - and Blake Lively are to blame for the financial loss recently suffered by Martha's company

Martha recently courted controversy after sharing a photo of herself celebrating Thanksgiving with fashion photographer Terry Richardson.

Within minutes, Ms Stewart's account was flooded with comments from her followers, many of whom were horrified to see her associating with the photographer, who is facing more than a dozen accusations that he sexually abused young models while working with them on various photoshoots.

Despite the outcry, however, Martha continues to have a group of very devoted fans.

'Martha Stewart Cafe in NYC? I'm in,' wrote one person on Twitter. 'No opening date yet - but anxious to go,' said another.

Gwyneth Paltrow responds to Martha Stewart's 'slap down'...