Litebulb jumps on product orders from Tesco and QVC

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.

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.

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.

NR

Recommended

Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021
What the best-performing investment trusts of the past 20 years can teach us
Investment trusts

What the best-performing investment trusts of the past 20 years can teach us

Forty-two trusts have risen more than tenfold over the last two decades. What made the winners stand out? And how can we identify future outperformers…
12 Oct 2021
Activision Blizzard: a cheap play on videogames
Share tips

Activision Blizzard: a cheap play on videogames

Videogame maker Activision Blizzard has been in the news for the wrong reasons lately. But it has a bright future, says Stephen Connolly.
11 Oct 2021

Most Popular

How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
Inflation is still one of the biggest threats to your personal finances
Investment strategy

Inflation is still one of the biggest threats to your personal finances

Central bankers and economists insist inflation will be gone by next year. We're not so sure, says Merryn Somerset Webb. So if you haven’t started to …
1 Oct 2021
How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021