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VTech Holdings Ltd Annual Report 2006
45 6
15
early 2006, over 30 new products in
the traditional range were unveiled,
including a new line of interactive
animal character play sets for
toddlers, SmartVille.
The Group’s success in developing
innovative products and serving its
customers led to a number of awards
during the financial year, including the
“ Toy Supplier of the Year 2005” award
from the Toy Retailers Association in the
United Kingdom. Our newly launched
TV Learning Station was also the
winner of the Educational Innovation
category in the InnovationAward 2006
at the Nuremburg International Toy Fair.
In addition to investing in the
development of new products, the
Group has devoted ever more attention
to supporting its products and the
VTech brand through effective
marketing and promotion. The financial
year 2006 saw an increasing array of
well targeted TV, print, advertising and
public relations campaigns that were
successful in generating higher sales.
Enhanced design in point of sales
displays also brought incremental sales
and increased our brand awareness
among consumers.
At the same time as expanding sales,
the business worked hard during the
financial year to control costs. Rising
labour costs, the appreciation of the
Renminbi and high raw material prices
were factors affecting costs during the
financial year, but we worked hard to
offset these through a continuous
improvement in operating efficiency.