UP Global Sourcing Holdings PLC Russell Hobbs Licence Renewal (8743M)
19 September 2019 - 4:00PM
UK Regulatory
TIDMUPGS
RNS Number : 8743M
UP Global Sourcing Holdings PLC
19 September 2019
19 September 2019
UP Global Sourcing Holdings plc
"Ultimate Products" or the "Group"
Russell Hobbs licence renewal
Ultimate Products, the owner, manager, designer and developer of
an extensive range of value-focused consumer goods brands, is
pleased to announce that it has renewed a trade mark licence
agreement with Spectrum Brands which grants the Group an exclusive
licence to use the "Russell Hobbs" trademark in the United Kingdom
and the European Union until March 2023.
Russell Hobbs is a British heritage kitchenware brand for which
Ultimate Products has had the licence for cookware lines since
2011. Ultimate Products' Russell Hobbs offering spans a range of
non-electrical kitchen and laundry products specifically designed
to help with chores in the kitchen and beyond. This does not
include Russell Hobbs electrical appliances.
In FY 2019, the Group generated unaudited revenues of GBP9.4
million under the "Russell Hobbs" trademark, representing 7.6 per
cent of the Group's total revenue for that period.
Russell Hobbs is one of only two licence agreements that
Ultimate Products has in place, the other being with Salter. The
Russell Hobbs agreement does not include electrical appliances, and
the Salter arrangement is for electrical and cookware products (NB
this does not include Salter scales).
For more information please contact:
Ultimate Products +44 (0) 161 627 1400
Simon Showman, CEO
Andrew Gossage, Managing Director
Graham Screawn, Chief Financial Officer
Shore Capital +44 (0) 20 7408 4090
Mark Percy
Edward Mansfield
Powerscourt +44 (0) 207 250 1446
Rob Greening
Sam Austrums
Notes to Editors
Ultimate Products is an owner, manager, designer and developer
of a series of well-known brands focused on the home, selling to
over 300 retailers across 36 countries. It has six product
categories: Audio; Heating and Cooling; Housewares; Laundry;
Luggage; and Small Domestic Appliances. Its brands include Beldray
(laundry, floor care, heating and cooling), Intempo (audio), Salter
(kitchenware), Constellation (luggage), and Progress (cookware and
bakeware).
The Group's products are sold to a broad cross-section of both
large national and international multi-channel retailers as well as
smaller national retail chains, incorporating discount retailers,
supermarkets, general retailers and online retailers. Its
best-selling products include frying pans, mugs and speakers,
selling approximately one million of each every year.
Founded in 1997, Ultimate Products is headquartered in Oldham,
Greater Manchester, where it has design, sales, marketing, buying,
quality assurance, support functions and warehouse facilities
across two sites. Manor Mill, the Group's head office, includes a
spectacular 20,000 sq ft showroom that showcases each of its
brands. In addition, the Group has an office and showroom in
Guangzhou, China and in Cologne, Germany.
Ultimate Products' graduate development scheme was launched in
2012 and in 2018 it welcomed its one-hundredth graduate. In total,
Ultimate Products now employs over 270 staff.
Please note that Ultimate Products is not the owner of Russell
Hobbs or Salter. The company currently has licence agreements in
place granting it an exclusive licence to use the "Russell Hobbs"
trademark for cookware (NB this does not include Russell Hobbs
electrical appliances) and the "Salter" trademark for electrical
and cookware (NB this does not include Salter scales).
For further information, please visit www.upgs.com
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END
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