Sanderson Design Group PLC (AIM:SDG) saw its shares surge 8.3% higher to 130.5p on Thursday morning after the luxury interior design and furnishings group revealed a “major” licensing agreement with J Sainsbury PLC (LSE:SBRY).
Under the deal, which is Sanderson’s first collaboration with Sainsbury’s, the supermarket chain's Habitat homewares and Tu clothing brands will develop a range of licensed products in collaboration with Sanderson's Morris & Co and Scion brands.
Habitat will launch homeware products featuring exclusive designs and colourways from the Morris & Co and Scion brands. The Scion products under this collaboration will launch in spring next year and the Morris & Co products the following autumn, Sanderson said.
Meanwhile, Tu, which is one of the UK's largest online clothing retailers, will collaborate with the Scion brand to develop womenswear and children's clothing ranges for launch in the spring of next year.
Today’s news follows an announcement last month that Sanderson had entered into a licensing agreement with Next PLC.
Lisa Montague, Sanderson Design's chief executive officer, said in a statement: "Today's announcement marks the second major licensing agreement that we have signed this year, demonstrating the strength of our brands and collaborative capabilities along with the attractive financial contribution that licensing delivers for the group."
Paula Nickolds, general merchandise commercial director at Sainsbury's, added: "Habitat and Tu are both design-led brands, so our collaboration with Sanderson to bring customers products featuring iconic prints and colourways from Morris & Co and Scion feels a natural fit.”