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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 GBP0.7 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

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

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January 10, 2024 02:00 ET (07:00 GMT)

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