Major Licensing Agreement with NEXT

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 £2.6 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 [phone]
Lisa Montague, Chief Executive Officer
Mike Woodcock, Chief Financial Officer
Caroline Geary, Company Secretary
Investec Bank plc (Nominated Adviser and Joint Broker)	[phone]
David Anderson / Alex Wright / Ben Farrow
Singer Capital Markets (Joint Broker)	[phone]
Tom Salvesen / Jen Boorer / Alex Emslie
Buchanan	[phone]
Mark Court / Toto Berger / Abigail Gilchrist
[e-mail]

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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