Licensing agreement in the USA

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 £0.7 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."