14 Mar 2018 07:00
14 March 2018
LightwaveRF plc
(AIM: LWRF)
New and enhanced distribution arrangements
John Lewis to stock Lightwave devices
LightwaveRF plc ("LightwaveRF" or the "Company"), the leading smart home solutions provider, is pleased to announce a series of expanded distribution arrangements covering both the UK retail and wholesale sectors, one of which will lead to Lightwave devices being sold by John Lewis plc.
The Company continues to review its distribution strategy and believes exclusive distribution agreements can be limiting. LightwaveRF has therefore changed its strategy to pursue a range of non-exclusive relationships, which it believes will help drive sustainable revenue growth over the long term and offer scope for improved margins.
As a result, the Company has signed an agreement with Exertis (UK) Ltd, one of Europe's largest and fastest growing technology distributors. Exertis will increase the availability of Lightwave's products across a range of UK retailers, beginning with Lightwave devices going on sale both online at John Lewis and in stores across the UK later this month. The Company has also signed a distribution agreement with West Coast Ltd., which supplies leading technology brands, including Apple, to a broad range of outlets. LightwaveRF will continue to distribute to other UK retailers through its existing relationship with ERA Home Security Ltd.
The Company has also signed terms with, and commenced supply to, City Electrical Factors Ltd, the UK's largest electrical wholesaler, Edmundson Electrical Ltd, Stearn Electric Co Ltd, and YESSS Electrical for the UK wholesale and electrical contractor markets. The existing agreement with Deta Electrical Co Limited will no longer be exclusive, the Company now therefore expects lower orders to be generated from Deta.
Andrew Pearson, CEO of LightwaveRF, commented: "We entered 2018 with an intent to add further partners that complement and extend our distribution capability. This new set of contracts means we have achieved this and put in place relationships with distributors whose Europe-wide operations will also aid us in launching our international device range later this year."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information:
LightwaveRF plc Andrew Pearson, CEO Kevin Edwards, CFO | www.lightwaveRF.com +44 (0) 121 250 3625 |
Stockdale Securities Limited Tom Griffiths/Edward Thomas | www.stockdalesecurities.com +44 (0) 20 7601 6100 |
Yellow Jersey PR Charles Goodwin/Abena Affum/Katie Bairsto | www.yellowjerseypr.com +44 (0) 7747 788 221 |
About LightwaveRF
LightwaveRF plc ("LightwaveRF" or the "Company") pioneered smart home automation with the introduction of the market's first Internet enabled devices in 2008. Today the Company markets a complete smart home system for lighting, heating, power and security.
LightwaveRF offers a cloud platform and an extensive range of retrofitted LightwaveRF designed and manufactured sockets, dimmers, relays, thermostats, heating, energy, sensing, monitoring and control devices. These devices are operated by conventional manual control, handheld remote, smartphone and tablet based apps. The LightwaveRF system can also be operated using Google Assistant and Amazon Alexa voice control, is Apple HomeKit compatible and provides users with dashboards to manage their smart home.
We are dedicated to making everyone's lives easier and more fulfilled through world leading smart home technology.
For further information and to sign up for investor news alerts please visit:
www.lightwaverf.com/corporate/