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Legendary Invest PLC (LEG)

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Monday 12 November, 2012

Legendary Invest PLC

Update on VirtualStock Limited

RNS Number : 8187Q
Legendary Investments PLC
12 November 2012
 



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

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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