Value-focused consumer goods company UP Global Sourcing (UPGS) announced it had signed a licensed brand endorsement with WW, formerly known as Weight Watchers, in order to boost sales. However, on a weak day for UK stocks, the shares lost 6% to 200p.
The company’s kitchenware brand Progress will collaborate with WW to develop and promote value-for-money products which help customers prepare and cook nutritious and healthy foods.
The idea is to launch a range of ‘Progress by WW’ products across the small domestic appliances and cookware categories. The range will include fryers, health grills, soup makers, slow cookers, blenders, knifes, utensils and kitchen gadgets.
The new product range will be sold through existing sales channels including supermarkets, ecommerce and discounters but also crucially they will be available to WW’s members through their own website. Progress’ customers include Tesco (TSCO), Argos and Amazon.
UPGS, better known as Ultimate Products, will also link the sale of the product range to its plant-a-tree initiative whereby the company matches purchases of its products with newly planted trees.
Chief executive Simon Showman commented: ‘We are thrilled to be partnering with a brand of WW's global renown, heritage and standing.
‘Their endorsement of the historic Progress brand is a fantastic seal of approval, and we are delighted that "Progress by WW" will help to inspire people to choose a healthier lifestyle.’
Shore Capital saw today’s announcement as a positive step for the company saying, ‘it continues to broaden and strengthen its proprietary brand portfolio (this time in capital light manner) and customer base across the UK and International markets.’
READ MORE ABOUT UP GLOBAL SOURCING HERE