Last checked at 7 Mar 2022 07:00
7 March 2022
Strix Group Plc
("Strix", the "Company" or the "Group")
New products and sales developments update
Strix Group Plc (AIM: KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, is pleased to announce a number of new product developments representing significant progress towards achieving the Group's five-year growth plan, at the core of which is improved sustainability.
Appliance Category
In October 2021 the Company announced the launches of Aurora and Dual Flo as key extensions of Strix domestic appliance category, both with strong energy saving and sustainability benefits. Strix's mission within the Appliance category is to develop products that allow consumers to live a safer, more convenient, and sustainable life at home.
Aurora is powered by Strix's Instant Flow Heater technology, delivering auto-dispensed hot, boiled, and chilled filtered water at the touch of a button. The Aurora Hot was launched in Q4 2021 and is now listed and selling well on Amazon, while the Aurora Chilled is on track to be in the market in the second quarter of 2022. Aurora products have numerous environmental and energy saving advantages. The Aurora has recently been awarded the Quiet Mark award which is an industry accreditation aimed at encouraging companies worldwide to prioritise noise reduction within product design. Strix recently organised a virtual press event for the Aurora product to demonstrate the new Aurora product and the consumer insights behind it and raise retail awareness of Strix's recent new product development activity.
Dual Flo, which combines Strix's technology with LAICA's classic Italian design, is believed to be the UK's only combined kettle and one cup hot water dispenser with an innovative, energy saving facility enabling 150ml to 1 litre of boiling water to be dispensed efficiently. It is currently awaiting delivery to the UK and is expected to be in stock in mid-March 2022 and will also be listed on Amazon. Dual Flo provides energy saving advantages, as well as strong patented technology providing the only one-cup kettle solution.
Water Category
Excellent recent progress has been made in Strix's water category in the Asia-Pacific ("APAC"), Europe and the US.
In South-East Asia, Strix recently entered into a significant distribution agreement with a global consumer electronics manufacturer, under which its water filtration technology and products will be introduced to local Asian markets later in Q1 2022.
In Europe, Strix has secured the supply of its water filtration technology and products to one of Europe's largest consumer electronics retailers. Strix has also appointed a new distributor for Denmark who will take a range of Aqua Optima jugs and filters.
Additionally, new retail listings for the Aqua Optima range have also been won across the UK and Ireland growing the brand's presence across the region with more than 200 additional store listings across well-known high street and independent retailers. Strix now also has a presence in the hardware and garden centre market in the UK with listings of its Aqua Optima jugs and filters.
In the US, the Company has recently appointed an additional distributor for the North American region. The distributor has an excellent track record in supplying major consumer electronics brands.
Mark Bartlett, Chief Executive Officer of Strix, said: "With sustainability at the heart of our business, I am delighted to report on the significant milestones achieved in recent months. These milestones keep us on track to meet the key objectives set in our five year plan, as well as maintaining our sustainability strategy and target to double the Group's sales over a five year period."
For further enquiries, please contact:
| |
Strix Group Plc Mark Bartlett, CEO Raudres Wong, CFO | +44 (0) 1624 829829 |
Zeus Capital Limited (Nominated Advisor and Joint Broker) Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance) |
+44 (0) 20 3829 5000 |
Stifel Nicolaus Europe Limited (Joint Broker) Matthew Blawat / Francis North |
+44 (0) 20 7710 7600 |
IFC Advisory Limited (Financial PR and IR) Graham Herring / Tim Metcalfe / Florence Chandler |
+44 (0) 20 3934 6630 |
ABOUT STRIX GROUP PLC
Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.
Strix's core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly. Strix has built up market leading capability and know-how in this field since being founded in 1982.
Strix trades on the AIM Market of the London Stock Exchange (AIM: KETL).