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FindU shoe platform for Isaac Daniel Group
18
Jun '08
Isaac Daniel, who's Global Positioning (GPS) sneakers gained worldwide attention in 2007, has announced the signing of a breakthrough distribution agreement that will see his GPS footwear and the FindU, personal locator device (PLD), sold in the Commonwealth of Independent States (CIS).

The deal is valued at least $75 million over the next five years according to Isaac Daniel, chairman and CEO of Fele Holding Corp. and the Isaac Daniel Group (IDG).

The CIS, consisting of 15 former Soviet Republics, is considered to be one of the fastest growing markets in the world.

The agreement with Victory Grand Development (VGD), a Delaware company with offices in Moscow that was formed to be a market leader of safety and protective services in Russia, will allow VGD to become the exclusive CIS marketer and distributor of both the GPS footwear and FindU, a new IDG product. A small device, smaller than a cigarette lighter, FindU enables the user to be found anywhere on the surface of the globe with the simple push of a button.

“This is a major breakthrough, not only for our company, but for the people of the CIS,” said Daniel. “As a leader in the Location Based Services industry, we are very excited about this partnership with Victory Grand Development and look forward to servicing the needs of this dynamic market.”

According to Daniel, a former United Nations official, one of the keys to the success of the agreement with VGD was granting them the rights to market both the shoes and the FindU, which fits in the palm of a hand and measures 1.7 inches by 2.5 inches.


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