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(Sharecast News) - Sanderson Design Group announced the renewal and expansion of its licensing agreement with Blinds 2go, an e-commerce entity specialising in made-to-measure blinds, curtains, and shutters, on Monday.
The AIM-traded firm said Blinds 2go, a segment of Hunter Douglas Group - one of the world's largest window coverings companies - would continue its collaboration with Sanderson under the agreement.
It said the renewed agreement encompassed several of Sanderson's brands, and had evolved into an umbrella agreement aimed at boosting international sales.
The agreement delineated geographic territories, varying according to individual brands, spanning the UK, Europe, Scandinavia, Japan, Australasia, and the US - a pivotal market for the Group.
Under the deal, Sanderson said it anticipated accelerated licensing income of £1.1m in the current financial year, reflecting minimum guaranteed revenues as per the agreement terms.
The agreement, encompassing roller blinds, Roman blinds, and curtains, would three years period, with retrospective effect from 1 November last year.
"Blinds 2go is one of our core licensing partners and a highly successful business," said group chief executive Lisa Montague.
"We are therefore delighted to sign this three-year renewal agreement covering a number of our brands in multiple regions internationally."
Montague said the target regions were brand dependent, but included the United States - one of the group's key strategic focuses.
"We have a long working relationship with Blinds 2go and look forward to collaborating with them on the design transfer and development of these new window-covering products."
At 0800 BST, shares in Sanderson Design Group were up 2.42% at 104.98p.
Reporting by Josh White for Sharecast.com.
