LONDON (Alliance News) - Fitbug Holdings PLC saw its shares rise again Friday, after it launched a digital health coaching platform for wearable technology called 'KiQplan.'
The platform will launch in the US stores of retailer Target Corp, and the first four KiQplans will include weight loss programmes for men and women, as well as a pre-natal regime, titled 'Healthy Baby Bump TM' and a post-natal plan, 'Goodbye Baby Bump TM.'
KiQplans will be available online and in Target stores starting next Monday, it said.
Fitbug said that its has filed patent applications for KiQplan, and further KiQplans will be rolled out through 2015. The platform is delivered via an application, and is designed to integrate with "most leading activity trackers", as well as smartphones and watches.
"With broad compatibility across the fast growing wearables sector, KiQplan adds an important second digital leg to the Fitbug business in addition to its core wearable products," said Chief Executive Malcom Fried in a statement.
Shares in Fitbug are trading up 14.4% at 5.75 pence Friday morning, making it one of the best performing stocks on the AIM All-Share index.
The stock has risen over 1000% over the past month, since it said in late October that US retail chain Target Corp and UK supermarket J Sainsbury PLC would stock Fitbug products in their wearables ranges from November 9, marking the company's largest retail sales agreements to date.
The maker of wearable devices and apps that encourage fitness and wellbeing said its products will be stocked in all of Target's 1,800 stores as well as on Target.com, the online business. Sainsbury's, meanwhile, has agreed to stock Fitbug products in 293 stores.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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