REG - Sanderson Design Grp - Renewal of Licensing Agreement with Bedeck

Sanderson DesignAnnouncement

04/04/2022 07:00

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RNS Number : 0599H  Sanderson Design Group PLC  04 April 2022

 4 April 2022

 

 

SANDERSON DESIGN GROUP PLC

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

 

Renewal of Licensing Agreement with Bedeck

 

Sanderson Design Group PLC (AIM: SDG), the luxury interior design and
furnishings group, is pleased to announce that the bedlinen and homewares
company Bedeck, one of the Group's core licensees, has renewed its licensing
agreement with the Group for a further three years as expected.

Approximately £1.4 million of accelerated income will be recognised under
IFRS15 in the current financial year in connection with the renewal. In
addition to the accelerated income, which comprises three years of fixed
minimum payments, the Group will also receive sales-based royalty payments.

Bedeck currently has exclusive rights to sell a wide range of bedlinen and
towelling for the Morris & Co., Sanderson, Harlequin and Scion brands
throughout the UK, Europe and Middle East. In addition to the renewal of these
rights, under the terms of the renewal agreement Bedeck will also hold
non-exclusive rights for bedlinen and towelling in the USA and Canada for the
four brands.

The contract renewal, which begins on 1 February 2024, has been signed ahead
of the renewal date to enable the development of new products based on recent
launches by Group brands.

Lisa Montague, Sanderson Design Group's Chief Executive Officer, commented:
"We are delighted to renew and extend our licensing agreement with bedlinen
specialist Bedeck, which is one of our core licensees. The licence agreement
now includes North America and I'm excited by the potential of the combination
of our brands and Bedeck's bedlinen in the US market."

 

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                                  +44 (0) 20 7597 5970
 David Anderson / Alex Wright / Ben Farrow

 Buchanan                                           +44 (0) 20 7466 5000
 Mark Court / Sophie Wills / Toto Berger

 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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