21st Jul 2014 10:05
LONDON (Alliance News) - LiteBulb Group PLC said Monday that it has finalised orders worth more than GBP4 million with a number of UK retailers including Marks & Spencer Group PLC, J Sainsbury PLC, Next PLC and UK pharmacy chain Boots.
The branded product developer said its subsidiary Meld Marketing Strategies has extended on its relationship as a full service vendor with retail giant Marks & Spencer to supply a range of books, gifts and games, as well as pre-school products.
LiteBulb's deal with Sainsbury's to produce a range of Mary Berry home kitchen gifts, launched in January this year, has been extended after good sales at the retailer. Sainsbury's has placed an additional re-stocking order for this range for the autumn.
One of LiteBulb's gift brands is Ginger Fox, a business that specialises in designing and developing Games and Novelty Gifts. The company has received substantial orders from both Boots and Next for products within this range, it said.
CEO of LiteBulb, Simon McGivern said the finalised orders total more than GBP4 million, which indicates a step change at the product developer, "particularly when you consider that we recorded GBP8 million sales for the whole of 2013."
"As a larger business we are gaining further traction with big name UK retailers and our ability to develop such a wide range of innovative new product ranges is proving hugely popular with our customers. The Mary Berry range is a great example of this where we've taken Mary's strong brand and created a popular range of homeware that we expect to see generating over £1m of sales within the first year of launch," added McGivern.
Looking ahead the company said that its business is growing strongly ahead of its busiest period as retailers look toward Christmas. LiteBulb said that it remains on track to deliver "significant" growth this year.
Shares in LiteBulb Group were trading 5.11% at 0.925 pence per share Monday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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