Selfridges are window shopping with Hull firm Feonic
SELFRIDGES and Heals are among the top stores that have tapped into the unique Whispering Windows technology developed by Hull firm Feonic.
The group has seen a rise in sales of 22% in the six months to January 31 after Selfridges and Sony used its product with their Christmas window displays and upmarket furniture chain Heals used it for a Valentine’s Day promotion.
Feonic has developed techonology that allows all manner of surfaces, including store windows, to be transformed into loudspeakers.
It is confident it can continue to drive sales under new chief executive Philip Jarvis.
Sales in the six months were £89,737 with an operating loss of £189,742.
Mr Jarvis, said: “I have only been with Feonic for a relatively short time, but I am delighted to be leading a highly innovative company with cutting edge products and technology that address current and growing market needs. I believe this company has great potential: it has proven and reliable products, a secure supply chain, high quality customers and an attractive profit margin.”
He said the company is putting in place “a tightly managed, practical and achievable commercial growth plan, starting from a point of strength: the Company’s strong patent portfolio for its existing product range in the major markets of the US, Japan, China and Europe”.
FeONIC said that its board also intends to restructure the balance sheet by consolidating the outstanding director loans and warrants with the aim of making it “more attractive both to its own shareholders and to new investors”.
