|Investment Required||£140,000 for 15%|
|Investment Secured||£140,000 for 40% with Peter Jones & Theo Paphitis|
|When in the Den||February 2007|
|Brief Description||A multimedia teddy bear|
Imran Hakim had no problem winning over Peter and Theo with his 21st century media playing bear. After a furry impressive media launch at London Zoo, has it all been a teddy-bear’s picnic?
The last time we saw Imran he was announcing an exclusive deal with the UK's leading catalogue retailer. iTeddy sold well from the summer of 2007, getting the number two spot at Christmas. This success was followed by distribution deals with around 40 countries.
iTeddies are now stocked in all major UK toy shops and have sold well over the last 12 months in the USA following an exclusive deal with one of their biggest toy retailers.
However, with the iTeddy's manufacturing based in China and a relatively weak pound Imran says they have changed the focus of the business in recent times.
Delaying the launch of a new version of the multimedia bear to 2010, Imran has instead been working hard to offer value at a lower price point, telling us that: "consumers are looking for added value products rather than technologically advanced ones"
The advice and guidance of Theo and Peter has been 'invaluable' as he explains: "When you've got a couple of dragons like that who have been so successful it just reinforces your confidence in what you're doing as well."
Imran was interviewed for this article on 20 July 2009
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