Laura Ashley : 2nd February 2018 - Update on Laura Ashley Japan

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Ashley (Laura) Hldgs PLC - ALY Update on Laura Ashley Japan Released 07:00 02-Feb-2018

RNS Number : 7041D

Ashley (Laura) Hldgs PLC 02 February 2018

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

LAURA ASHLEY HOLDINGS PLC (the "Company")

Laura Ashley Japan

2 February 2018

The Board announces today that Laura Ashley Holdings plc and Aeon are to terminate, on 17 September 2018, their Master License Agreement which grants Laura Ashley Japan the right to own and operate retail stores as well as the right to license the Brand in approved territories.

Following the termination of the Master License Agreement, Laura Ashley Holdings plc will take back the master licensing rights to the Japan, Taiwan and Hong Kong territories. There are many loyal Laura Ashley customers in these territories and the company intends to continue to serve them by managing the existing licensees as well as adding new licensees in order to offer an even wider range of products.

The Laura Ashley Japan Co Ltd stores will close as of 17 September 2018. However, customers will continue to be able to buy Laura Ashley products in Japan, Taiwan and Hong Kong.

KC Ng, CEO, said:

"The Laura Ashley Brand has been much-loved in Japan for over 30 years, and we see an exciting opportunity to build on this with the master licensing rights back under our management. Laura Ashley has a strong future in Japan and weare grateful to Aeon for its co-operation and help in building the Brand presence in the region."

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Update on Laura Ashley Japan - RNS