Litebulb Group, which provides product solutions from identification through to retail distribution, has received initial purchase orders from major UK retailer Tesco for its Scootrix range of children's scooter accessories.
The firm also reported that it has received a re-order of its ila range of personal safety products for women from QVC in Germany after they received their first viewing on the shopping channel there.
Tesco purchase ordersThe initial purchase order for scooter accessories that was received at the end of 2012 has been followed by a more recent and significantly larger order from Tesco for a number of its Scootrix products which will be sold both in-store and online and are expected to be on the shelves by March of this year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Simon McGivern, LiteBulb Group Chief Executive Officer, said: "Having only launched the Scootrix brand last year we are delighted to have received a substantial order from one of the UKs leading retailers. This is an excellent endorsement of the Scootrix product set and we are confident this deal will increase awareness of the Scootrix brand, accelerate product sales and further cement our relationship with Tesco."
With over 3.5m children aged between three and 10 in the UK owning a scooter, the company has also seen increasing interest from retailers for its Scootrix scooter accessories and is currently in discussions regarding Scootrix with a number of major UK retailers, as well as in multiple overseas markets.
Launch of ila and QVC re-orderLiteBulb's ila DUSK personal alarm and ila door WEDGE alarm products have recently completed their first airings on QVC Germany, with stocks of the products having already fully sold out. As a result, QVC Germany has requested stock lists on other products within the ila range in order to capitalise on this initial success through further airings of ila products.
As a result of higher-than-expected sales, the group received a re-order within only two weeks of the previous airing.
Furthermore, the US QVC division is planning further airings in 2013 and is in discussions with the Company regarding sales of three additional ila product lines.
McGivern added: "In addition, the success of our ila products with QVC in both Germany and the USA gives us great encouragement as we look to introduce the products into additional geographies. We look forward to providing further updates on the international expansion of the ila brand in the coming months."
The share price leapt 16% to 0.72p by 11:05.
SIPP holders to get cash warnings and be offered default funds
News Providers will be required to offer investors a default fund and must warn customers of the inflationary risk of cash savings the regulator has said. What the new rules mean for your retirement pot?
By Marc Shoffman Published
Zoopla: Asking price discounts hit a five-year high – is now the time to buy a property?
News Zoopla’s October House Price Index shows sellers are accepting discounts of 5.5% on average to secure a sale – we reveal where homeowners are taking the biggest asking price cuts
By Marc Shoffman Published