The interactive teddy bear started life as a Dragon’s Den investment for Peter Jones and Theo Paphitis last year. Entrepreneur and product developer Imran Hakim brought the product successfully to market in the UK and Ireland this year with Argos and expects to sell out pre-Christmas.
Unisex and targeted to children 3-6 years, the product offers MP4 video play and audio story-telling capability coupled with music player and photo storage – all embedded into the tummy of a high quality teddy bear. Parents can then download content via the i-Teddy website for their children’s favourite characters.
“Vivid Imaginations are delighted to be working with the i-Teddy team for 2008 to develop the brand globally, stated CEO Nick Austin.
“Adding TV advertising to the marketing mix for next year should enable us to sell 130,000-plus units in UK and Ireland alone, generating retail sales of £8 million from one item. The potential internationally over the next two years could easily be over one million units.”
Entrepreneur and founder Imran Hakim added: “We are delighted to be working with Vivid Imaginations to launch i-Teddy both nationally and internationally next year.
“From our Argos results this Christmas we know i-Teddy can become a significant global brand in the coming years and Vivid are the perfect partner with whom to realise this potential.”
Plans are afoot to build a line of i-Teddy products for the future, augmented by a strong range of high profile licensed programme content that can be down-loaded by i-Teddy owners.
I-Teddy will be launched at Excel, Nuremberg and Hong Kong in the coming weeks.