12 Nov 2012 07:00
12 November 2012
Legendary Investments Plc
("Legendary" or the "Company")
Update on VirtualStock Limited
Legendary is pleased to announce that its investee company VirtualStock Limited ("VS") has reached a significant milestone in delivering service to its growing list of clients. VS has implemented an "end-to-end turn-key solution" for the online branded product range through www.beargryllsstore.com of Bear Grylls Ventures LLP ("BG"). Bear Grylls is a British adventurer, writer and television presenter. The solution allows the Bear Grylls Store to run a stockless operation whereby VS is not only providing the technical solution, but also runs the operation as a managed service. Rollout has been implemented for the US, Canada and UK markets and more countries in Asia/Pacific, most notably China and Australia as well as Europe, will follow in a phased approach.
The service demonstrates VS's ability to deploy rapidly global turn-key solutions that allow international third party drop-ship suppliers to deliver products on behalf of retailers/e-tailers to the end user customers. The service is expected to grow the VS revenue stream and enhance its profitability.
The potential for revenue generation is indicated by the traffic generated by the Bear Grylls website and Facebook page. The Bear Grylls website has 1.2 million unique visitors while his Facebook page is "liked" by more than 1.7 million people.
VS's remuneration model is one of recurring monthly revenues; which are now well positioned to grow significantly with the addition of the www.beargryllsstore.com. This client win demonstrates that a dedicated, central team can rollout a global network of localised, virtual inventory online stores in less than six months.
More information is available on VS at www.virtualstock.com and BG at www.beargrylls.com.
Legendary will continue to work with the management of VS to develop rapidly it business, revenues and profitability
Contact: | ||
Legendary Investments Plc | Zafar Karim / Thomas Reuner
| 020 8201 3536 |
Grant Thornton Corporate Finance
| Colin Aaronson/ Melanie Frean
| 020 7383 5100 |
Simple Investments | Nick Emerson/ Andrew Thacker | 01483 413500 |