Martha Stewart’s brand isn’t worth what it used to be. Her homemaking empire, including her lines of home furnishings, kitchenware and other branded products, has been sold to Marquee Brands for $215 million — or $140 million less than what seller Sequential Brands Group paid for it in 2015. Sequential — which also owns brands such as Jessica Simpson, Ellen Tracy and Gaiam — had been looking to unload Stewart’s brands since last fall because of the skyrocketing costs of her perks and pay. “She belongs in a privately held company,” because of her “compensation and entourage,” said a source with knowledge of the partnership. A source close to the situation likewise said Sequential took the painful markdown on Stewart’s brand “rather than waiting several years at the risk of her age.” The deal — which also includes the Emeril Lagasse brands, valued at about $10 million, according to a source — totals $175 million, plus as much as $40 million in potential profits for Sequential depending on the future performance of the brands over the next three years.