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Trade News Archive April 08 March 08 February 08 January 08
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9th April 2008
Dragon's Den contestant boosts business
A Bolton resident, who was a successful contestant on the BBC's Dragons' Den, looks poised to see his winning idea go global.
Imran Hakim is the inventor of the iTeddy, an interactive stuffed toy with an iPod-style MP4 mini-screen in its stomach, and worldwide sales are predicted to reach £15 million this year alone, the Bolton News reports.
Mr Hakim, who is at the tail-end of an exclusive sales deal with Argos, revealed that the toy would soon be hitting a number of retail outlets.
"We have licenses from the BBC, Sony and Warner to deliver children's content through our website iTeddy.com. When the Argos deal expires you should see it in stores up and down the country including Tesco, Harrods, Asda and Toys R Us," he told the publication.
"We are hoping this is a rollercoaster ride that is going to continue. We have some good ideas to build upon the success of iTeddy in the UK last year, replicating that success worldwide. The next year is a huge year for us," Mr Hakim added.
In the Dragon's Den Mr Hakim secured £140,000 of investment from Peter Jones and Theo Paphitis in exchange for 40 per cent of his company.
(c) 2008 Adfero Ltd
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