Fitbug expands retail channels and will be sold on planes
This morning Fitbug (AIM: FITB) announced their agreement with inflight retail specialist Scorpio Worldwide Limited, to include the Fitbug/Kiqplan bundle within its range promoted to major airlines. KLM have been confirmed as the first airline customer, and they will stock the bundle on board their flights from October 2015.
This is an interesting new retail channel for Fitbug which has the potential to enhance sales if more airlines are interested in stocking the products. Scorpio’s sales and marketing director has commented that he expects the product to be extremely popular with worldwide demographics. Good news for Fitbug who have had a bit of a rough ride in the last few months following their share price explosion in late 2014. Yesterday Fitbug’s US rival, Fitbit announced its intention to list on the New York stock market at $17 per share, giving an estimated market cap of $4bn. In comparison Fitbug’s…