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RCS - Sanderson Design Grp - Renewal of Licensing Agreement with NEXT

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RNS Number : 5260T  Sanderson Design Group PLC  25 July 2022

 REACH
                                   25 July 2022

SANDERSON DESIGN GROUP PLC

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

 

Renewal of Morris & Co. licensing agreement with NEXT

 

Sanderson Design Group PLC (AIM: SDG), the luxury interior design and
furnishings group, is pleased to announce that NEXT has extended its licensing
agreement for Morris & Co. womenswear for up to two years. The contract
renewal, which starts in April 2023, includes NEXT's in-store and online
channels in the UK and Europe.

The initial NEXT range of Morris & Co. womenswear was launched in May 2021
and has performed strongly since that time. NEXT will use new designs and
colourways during the extension period to launch a further range of Morris
& Co. womenswear from autumn winter 2023.

Approximately £0.4 million of accelerated income will be recognised in the
current financial year in respect of the first year of the two-year extension.
A further £0.3 million of accelerated income will be recognised when the
second year of the contract is confirmed, which would contribute to the
Group's financial results for the year ending 31 January 2024. The contract
includes a break clause after year one, exercisable by either party by the end
of October 2023.

Lisa Montague, Sanderson Design Group's Chief Executive Officer, commented:
"We are delighted to renew this Morris & Co. licensing agreement with
NEXT, highlighting the strength of our partnership with a hugely successful
retailer. The agreement demonstrates the confidence that NEXT continues to
have in the potential of the Morris & Co. brand and also the demand from
NEXT's customer base for the interpretation of heritage designs on modern
womenswear."

Lord Simon Wolfson, NEXT's Chief Executive, said:   "We are delighted to be
renewing our licensing agreement with Morris & Co. for womenswear.  We
have an excellent working relationship with the company and look forward to
developing it further in the years ahead.  The combination of their
outstanding designs along with NEXT's Sourcing, Online and Retail capabilities
continues to deliver exciting products for our 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 Broker)  +44 (0) 20 7597 5970
 David Anderson / Alex Wright / Ben Farrow

 Buchanan                                          +44 (0) 20 7466 5000
 Mark Court / 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, 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
(http://www.sandersondesigngroup.com)

 

 

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