5th Nov 2024 11:14
(Alliance News) - Sosandar PLC on Tuesday hailed a "proud moment" as it has struck a homewares licensing deal with FTSE 100-listed Next PLC.
The deal, which the Cheshire, England-based retailer said will require "no capital expenditure", will see living room furniture sold on the Next website. The range will include "sofas, accent chairs, rugs and lighting".
"Following the success of Sosandar's clothing range sold through Next, Next is extending its partnership to licensing the Sosandar brand to develop a homeware range. Next is one of the largest homeware retailers in the UK and the licensing deal will combine Next's sourcing and quality expertise with Sosandar's design inspiration," Sosandar said.
The range of products is to launch in autumn 2025.
Next, based in Leicester, is a clothing and homewares retailer, while Sosandar's focus is on women's fashion.
Sosandar Co-Chief Executive Officers Ali Hall and Julie Lavington said: "It is a proud moment for the Sosandar brand to be licensing through Next, a testament to the strength of what we have built. This is a fantastic opportunity to leverage our brand equity and extend the success Sosandar has had through third party partnerships with little risk and no capital expenditure.
"We will combine Next's specialist technical and sourcing skills with our design aesthetic and understanding of Sosandar customers to deliver an exciting and unique product range. Importantly, the homeware range will broaden our reach into new audiences and enable existing customers to deepen their affinity to our brand."
Sosandar shares rose 2.6% to 10.00 pence each in London on Tuesday morning. Next was up 1.5% at 10,030.00p.
By Eric Cunha, Alliance News news editor
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