Furnishings group Sanderson Design Group PLC has announced a major licensing agreement for its Clarke & Clarke brand with retailer NEXT.
NEXT will hold a master agreement giving exclusive rights to produce a very broad range of Clarke & Clarke homeware products including bedding, towelling, tableware, furniture and lighting.
The agreement includes a five-year licence period from product launch in spring/summer 2024 following a year of product development by NEXT. The Clarke & Clarke licensed products will be available in NEXT stores and online at next.co.uk, and will also be wholesaled to third parties.
Accelerated licensing income of £2.6 million will be recognised by the Group in the current financial year in connection with the agreement, which covers the UK and Eire.
The new agreement is the first major licensing agreement for the Clarke & Clarke brand, whose out-licensing activities have so far solely comprised an agreement with Asiatic Rugs along with an in-licensing agreement with Wedgwood and a long-standing collaboration with the designer Emma Shipley, all of which are separate from the newly signed agreement with NEXT.
Lisa Montague, Sanderson Design Group’s Chief Executive Officer, said: “We are delighted to sign this master licensing agreement with NEXT for Clarke & Clarke, marking a significant strategic development for the brand. 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.”
Lord Simon Wolfson, CEO of NEXT, said: “We are delighted to have this opportunity to deepen and strengthen our working relationship with the Sanderson Design Group. We anticipate the combination of timeless Clarke and Clarke design with NEXT’s Sourcing, Online and Retail capabilities will deliver exciting new products to customers in the UK and beyond.”