Source - Alliance News

Sanderson Design Group PLC shares were up on Wednesday, after it said it has signed a ‘major’ licensing agreement for its Clarke & Clarke brand with FTSE 100 retailer Next PLC.

Sanderson Design is a Denham, England-based luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. It also receives licensing income from the use of its designs on a wide range of products such as bed and bath collections.

The company’s shares were up 14% to 134.68 pence each in London on Wednesday morning.

Sanderson said the agreement covers a five-year period from product launch in spring and summer 2024 following a year of product development by Next. The Clarke & Clarke licensed products will be available in Next stores and online, and will also be wholesaled to third parties.

Next is a Leicester-based clothing and homeware retailer.

Sanderson said accelerated licensing income of £2.6 million will be recognised in the current financial year in connection with the agreement, which covers the UK and Ireland. Sanderson’s current financial year ends on January 31, 2024.

Chief Executive Officer Lisa Montague said: ‘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.’

In May 2021, Sanderson Design initially launched its Next range of Morris & Co womenswear. It extended its licensing agreement for up two years in July 2022.

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Related Charts

Next PLC (NXT)

+34.00p (+0.36%)
delayed 16:30PM

Sanderson Design Group PLC (SDG)

-1.50p (-1.40%)
delayed 16:45PM