Total
0
Shares
Image sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • MGM Wireless has signed the first UK retail deal for its SPACETALK ‘smart watch for children’
  • The deal is a sales agreement with UK’s leading TV shopping retailer: QVC UK
  • This agreement marks the first signed outside of Australia and New Zealand for the product
  • Sales will begin in August coinciding with the school holidays and the back to school period

MGM Wireless has signed its first UK retail deal for the SPACETALK smart watch, inked with leading TV and multi-channel retailer QVC UK.

With more than $600 million in revenue, QVC will provide SPACETALK with a TV, multi-platform, multi-network shopping and retail experience to an audience of more than 1.1 million customers across the UK and Ireland.

A significant demographic for QVC are women aged between 30-55, which is also SPACETALK’s target customer demographic.

The SPACETALK smart watch focuses on allowing parents to communicate with their children through 3G mobile calls and text messages, all without giving them access to the internet.

Popular apps like Snapchat, Facebook, Instagram and YouTube cannot be used through the watch.

Parents can also block calls and messages from unknown numbers and they will be identified if any unknown number tries to call.

The watch boasts GPS tracking that can send timed updates on the child’s location and parents are notified if their child leaves a designated safe zone, like a friend’s house or school.

“There’s no doubt that a new children’s wearable and mobile category is emerging,” MGM CEO Mark Fortunatow commented.

“Children’s smart watch and mobile phone devices are a safe and responsible way for families to stay connected without exposure to the dangers of open internet, social media, bullying and the many other distractions associated with smartphones,”

Earlier in July, MGM expanded its New Zealand sales with the likes of retailers Noel Leeming, JB Hi-Fi and Harvey Norman stocking the watch.

Today’s agreement follows the successful online sales and customer feedback generated by the UK SPACETALK website launch in May 2019.

This will also advance MGM’s international growth strategy and marks the first agreement with a major UK/European retailer – a first outside of the Australian and New Zealand market for the company.

“This is a major milestone for SPACETALK,” Mark continued.

“To have such a demanding, high quality and trusted retailer get right behind SPACETALK at this level is just amazing,”

According to leading researchers Gartner, global spending on wearable devices is expected to reach USD$42 billion in 2019.

SPACETALK sales will begin in August which coincides with the school holidays and back to school period. MGM also hopes to announce further retail agreements to shareholders in the future.

MWR by the numbers
More From The Market Herald
EVE Investments (ASX:EVE) - MD and CEO, Bill Fry

" EVE Investments’ (ASX:EVE) Meluka partners with Probiotic Australia

EVE Investments’ (EVE) business, Meluka Australia, has partnered with Probiotics Australia on the back of a strong sales performance.

" Retail Food Group (ASX:RFG) prepares for lawsuit with Michel’s Patisserie

Retail Food Group (RFG) has told its investors to prepare for another class action lawsuit against the business from franchisee Michel’s Patisserie.
SunRice (ASX:SGLLV) - Chief Executive Officer, Rob Gordon

" SunRice Group (AXS:SGLLV) renews supply deals with Chinese commercial partners

SunRice Group’s (SGLLV) subsidiary Ricegrowers Singapore has entered two significant agreements with a strategic commercial partner in China.
The Market Herald Video

" Digital Wine Ventures (ASX:DW8) acquires B2B liquor business Kaddy

Digital Wine Ventures (DW8) has announced it will acquire the B2B liquor business Kaddy for $6.75 million.