ASX-listed smartwatch maker Spacetalk has inked a partnership with The Warehouse Group to offer its products in its 145-store NZ network.
The deal, covering Spacetalk’s Adventurer 2 and Spacetalk Loop smartwatches, delivered immediate scale to the company’s plans to penetrate New Zealand’s retail market, Spacetalk said.
The watches will be sold through both Noel Leeming and The Warehouse branded outlets.
The agreement represented a milestone in Spacetalk's plans to generate New Zealand-sourced revenues.
In particular, it would allow Spacetalk to take advantage of what it described as the "underdeveloped kids wearables category" in New Zealand.
"Once New Zealand-based sales start to be generated, the company will then have the opportunity to cross-sell additional Spacetalk products to these first-time New Zealand-based customers," Spacetalk told shareholders.
Spacetalk is pursuing a stated target of $20-25 million in annual recurring revenues in the coming three years, a three-fold increase on its 2023 results.
Spacetalk's platform comprises hardware and client-controlled software, including phone functionality, that provides safety and security to users.