Designer Vision agrees $10m deal with Toys R Us

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The Independent Online

A small British company with sales of £9.2m last year will this morning unveil a $10m (£5.8m) contract with America's Toys R Us.

Designer Vision Group, which developed the first rear-seat entertainment system for Range Rover cars, is to supply its portable multimedia equipment to the toys giant for sale in the US and across Europe.

The initial order is for 50,000 hand-held DVD players, 20,000 twin-screen DVD systems, 40,000 MP3 music players and 4,000 video cameras.

The kit will be delivered within 60 days, and is destined for Toys R Us's shelves over here, in America, Spain and Portugal.

Other orders from Toys R Us are expected throughout this financial year, Designer Vision said.

In December, the firm raised £500,000 by placing new shares with big City investors to fund an expected surge in orders this year.

Angelo Panayiotou, the founder of Designer Vision and its chairman and chief executive since the end of January, said: "Toys R Us's position as a major global retailer provides the ideal environment to sell Designer Vision portable multimedia products.

"Over 1 million people visit a Toys R Us branch somewhere in the world every day. I am confident that this order represents the start of a long-term and mutually beneficial relationship with Toys R Us USA."

News of the big contract win may stimulate a hungry appetite this morning for Designer Vision shares, which change hands on the Alternative Investment Market.

They closed last week at 3.87p, valuing the London company at a touch north of £3m.

Annual results last week showed sales more than tripled in 2005. But Designer Vision made a loss of £370,479 after heavy investment to develop its business selling multimedia systems to car makers.

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