RCS - Sanderson Design Grp - Licensing agreement in the USA

Sanderson DesignAnnouncement

10/01/2024 07:00

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RNS Number : 1537Z  Sanderson Design Group PLC  10 January 2024

 REACH  10 January 2024

 

SANDERSON DESIGN GROUP PLC

("Sanderson Design Group", the "Company" or the "Group")

 

Morris & Co. licensing agreement in the USA

 

Sanderson Design Group PLC (AIM: SDG), the luxury interior design and
furnishings group, is pleased to announce that its Morris & Co. brand has
signed a licensing agreement with ENVOGUE International ("ENVOGUE"), a New
York designer and distributor of fashion-forward products for the home.

This agreement represents the third major Morris & Co. licensing deal
signed in the USA, following agreements with Ruggable LLC, the washable rug
company, and with US retailer Williams Sonoma for Morris & Co. tableware
and cookware. It also marks a further step in development of the Company in
the important US market, which is a key strategic focus for the business.

The five-year agreement, covering the USA and Canada, is exclusive for the
production of Morris & Co. bedlinen, bath linen and tote bags and is
non-exclusive for a broad range of Morris & Co. products including
cushions, ready-made curtains, bathroom accessories, doormats, kitchen mats,
chairs, benches and poufs.

The first products from the agreement will be launched during the coming
months for Spring/Summer 2024. Accelerated licensing income of £0.7 million
will be recognised by the Group in the current financial year to reflect the
minimum guaranteed revenues in the agreement.

ENVOGUE's customer base comprises premium stores and online retailers
including Macy's, Bloomingdale's, Saks Fifth Avenue and Perigold.

 

Nidhi Jain, ENVOGUE's Chief Executive Officer, said: "We are thrilled to
announce this partnership with Sanderson Design Group's most iconic brand,
Morris & Co. For more than 160 years, Morris & Co. has dressed stately
homes, country houses and residential properties across the globe. Together we
look forward to bringing the same iconic patterns, with beautiful fabrics and
exquisite details, to elevate homes throughout the USA and Canada."

 

Lisa Montague, Sanderson Design Group's Chief Executive Officer, said: "We are
delighted to sign this Morris & Co. licensing agreement with ENVOGUE in
the North American market. The agreement builds on our strategic focus on the
USA and marks further progress in the development of our licensing activities.
We look forward to working closely with ENVOGUE during the coming weeks and
months in the transfer of Morris & Co. designs to their products, the
first of which will be launched for Spring/Summer this year."

 

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

 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 / Sophie Wills / Toto Berger / Abigail Gilchrist
 SDG@buchanan.uk.com (mailto: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, Clarke & Clarke and Scion.

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 and Amsterdam.

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
(http://www.sandersondesigngroup.com)

 

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