We have had pretty good luck with trying to make the differences between online and retail as seamless as possible to the customer. We don't have two distinctive product lines like you do, but had my original company bought out a competitor in 2006. Both had very strong branding recognition for our niche market.
I'm not sure what the SEO implications are, but it sure sounds line a splash page with both would be best. Then you can market your strong company that has these TWO great product lines.
Would a national market hurt your wedding invitation business? It would seem like it can't.
HTH,
DaveW
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