Sanderson Design Group PLC Major Licensing Agreement with NEXT (6233Q)
22 February 2023 - 6:00PM
UK Regulatory
TIDMSDG
RNS Number : 6233Q
Sanderson Design Group PLC
22 February 2023
For immediate release 22 February 2023
SANDERSON DESIGN GROUP PLC
("Sanderson Design Group", the "Company" or the "Group")
Major Licensing Agreement with NEXT for Clarke & Clarke
Sanderson Design Group PLC (AIM: SDG), the luxury interior
design and furnishings group, is pleased to announce a major
licensing agreement for its Clarke & Clarke brand in which NEXT
will hold a master agreement giving exclusive rights to produce a
very broad range of Clarke & Clarke homeware products including
bedding, towelling, tableware, furniture and lighting.
The agreement includes a five year licence period from product
launch in spring/summer 2024 following a year of product
development by NEXT. The Clarke & Clarke licensed products will
be available in NEXT stores and online at next.co.uk, and will also
be wholesaled to third parties.
Acclerated licensing income of GBP2.6 million will be recognised
by the Group in the current financial year in connection with the
agreement, which covers the UK and Eire.
The new agreement marks the latest in a series of licensing
agreements between NEXT and the Group's brands. These include a
Morris & Co. womenswear agreement signed in May 2021, which has
since been extended and will see the launch of a new range of NEXT
Morris & Co. womenswear for autumn/winter this year.
The new agreement is the first major licensing agreement for the
Clarke & Clarke brand, whose out-licensing activities have so
far solely comprised an agreement with Asiatic Rugs along with an
in-licensing agreement with Wedgwood and a long-standing
collaboration with the designer Emma Shipley, all of which are
separate from the newly signed agreement with NEXT.
Lisa Montague, Sanderson Design Group's Chief Executive Officer,
said: "We are delighted to sign this master licensing agreement
with NEXT for Clarke & Clarke, marking a significant strategic
development for the brand. Clarke & Clarke is already the
Company's largest brand by revenue and this agreement brings
further multi-year income potential along with the endorsement of a
major UK retailer. We look forward to working closely with NEXT
during the year ahead on the broad and exciting range of homeware
products covered by the agreement."
Lord Simon Wolfson, CEO of NEXT, said: "We are delighted to have
this opportunity to deepen and strengthen our working relationship
with the Sanderson Design Group. We anticipate the combination of
timeless Clarke and Clarke design with NEXT's Sourcing, Online and
Retail capabilities will deliver exciting new products to customers
in the UK and beyond."
For further information:
Sanderson Design Group PLC c/o Buchanan +44 (0)
20 7466 5000
Lisa Montague, Chief Executive Officer
Mike Woodcock, Chief Financial Officer
Caroline Geary, Company Secretary
Investec Bank plc (Nominated Adviser
and Joint Broker) +44 (0) 20 7597 5970
David Anderson / Alex Wright / Ben
Farrow
Singer Capital Markets (Joint Broker) +44 (0) 20 7496 3000
Tom Salvesen / Jen Boorer / Alex Emslie
Buchanan +44 (0) 20 7466 5000
Mark Court / Toto Berger / Abigail
Gilchrist
SDG@buchanan.uk.com
Notes for editors:
About Sanderson Design Group
Sanderson Design Group PLC is a luxury interior furnishings
company that designs, manufactures and markets wallpapers, fabrics
and paints. In addition, the Company derives licensing income from
the use of its designs on a wide range of products such as bed and
bath collections, rugs, blinds and tableware.
Sanderson Design Group's brands include Zoffany, Sanderson,
Morris & Co., Harlequin, Scion, Clarke & Clarke and Archive
by Sanderson Design.
The Company has a strong UK manufacturing base comprising Anstey
wallpaper factory in Loughborough and Standfast & Barracks a
fabric printing factory, in Lancaster. Both sites manufacture for
the Company and for other wallpaper and fabric brands.
Sanderson Design Group employs approximately 600 people, and its
products are sold worldwide. It has showrooms in London, New York,
Chicago, Amsterdam and Dubai.
Sanderson Design Group trades on the AIM market of the London
Stock Exchange under the ticker symbol SDG.
For further information please visit:
www.sandersondesigngroup.com
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