Health specialist Fitbug is racing away after it unveiled a distribution deal with two major retailers.
Wearable technology to monitor people’s health and well-being is becoming big business - just ask Apple with its new watch - and Aim-listed Fitbug has persuaded J Sainsbury in the UK and Target in the US to back its products.
Sainsbury will stock Fitbug activity tracking devices - which use apps to monitor daily routines and nutrition plus web technology to provide weekly individual targets - in 293 stores from 9 November. Target will take the products in all its 1,800 US stores and also on its website. The main product will be the Fitbug Orb, which will retail in the UK for £49.95.
These are the largest retail agreements the company has ever signed.
The news has sent Fitbug soaring 1.15p or 306% to 1.45p.
