Licensing Agreement

RNS Number : 7532D

Walker Greenbank PLC

11 July 2016

 

For immediate release

11 July 2016

WALKER GREENBANK PLC

("Walker Greenbank" or "the Company")

Licensing Agreement to Target US Bedlinen Market

Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co., Harlequin, Zoffany, Scion and Anthology, has signed a licensing agreement with Indo Count Industries Limited ("Indo Count"), a textiles company quoted in India, under which Sanderson, Harlequin and Scion bedlinen ranges will be launched in the USA.

The agreement, which also includes Canada and Mexico, marks Walker Greenbank's first major bedlinen licensing initiative in North America.

Indo Count, which manufactures high quality textiles in India, distributes them directly to the US, where it has strong relationships with major department stores. Under the agreement with Walker Greenbank, it will launch 20 bedlinen sets under the Sanderson, Harlequin and Scion brands in September this year at a trade show in New York.

Indo Count's US operations include a design studio and showroom in New York and a warehouse in Charlotte, North Carolina. In addition to its Indian operations, it has showrooms in Manchester, UK, and Melbourne, Australia. In the UK, it is a key supplier of bedlinen to a number of major retailers.

John Sach, Walker Greenbank's Chief Executive, commented: "This exciting licensing agreement with Indo Count represents a significant opportunity for the Sanderson, Harlequin and Scion brands in the US bedlinen market. We look forward to working with Indo Count, which is an established and high quality supplier to major US department stores and retailers. Indo Count's first Walker Greenbank bedlinen ranges will be launched in New York this autumn - the same time that Sperry, the US footwear brand, will be launching its first shoe ranges under its licensing agreement with Sanderson."

For further information:

Walker Greenbank PLC	[phone]
John Sach, Chief Executive Mike Gant, Chief Financial Officer
Caroline Geary, Company Secretary
Investec Bank plc	[phone]
Garry Levin / David Anderson - Nominated Adviser
Henry Reast - Corporate Broking
Buchanan	[phone]
Mark Court / Sophie Cowles / Catriona Flint

For further information:

About Walker Greenbank

Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers and fabrics together with a wide range of ancillary interior products. The Company's brand portfolio - comprising Sanderson, Morris & Co, Harlequin, Zoffany, Scion and Anthology - spans heritage and contemporary design and its products are sold in more than 85 countries worldwide. The Company derives significant licensing income from the use of its designs in lifestyle products such as bed linen, rugs and tableware.

The Company employs more than 600 people and has showrooms in London, New York, Paris, Amsterdam and Dubai along with partnership showrooms in Moscow and in Shenzhen, China. Its UK manufacturing base, which includes a wallpaper factory in Loughborough and a fabric printing factory in Lancaster, manufactures product both for the Group and for other wallpaper and fabric brands. Continued investment in manufacturing has allowed the Group to offer a wide range of printing techniques.

Walker Greenbank trades on the AIM market of the London Stock Exchange under the ticker symbol WGB.

For further information please visit: www.walkergreenbank.com/

About Indo Count

Indo Count is a textiles company quoted on the National Stock Exchange of India and whose headquarters are in Mumbia. Its group sales in the year to 31 March 2016 totalled Rs22 billion (US$327 million).

Further details about Indo Count are available at the company's website www.indocount.com/

 

END

 

 

AGREFLBFQDFLBBB