Fitbug changes trading name to Kin Wellness

AIM-listed Fitbug has changed its trading name to Kin Wellness, following its transition from a consumer retail company focused on sales of activity trackers, to a software-as-a-service corporate digital wellness provider.

The company is aiming to change its registered name of Fitbug Holdings to Kin Group, subject to shareholder approval as the next general meeting.

It believes that the word Kin signifies “interconnectivity of people and their communities and colleagues; conveying brand values of trust, empathy, personal, human, friendliness and inclusivity”, which reflects its business model.

Chief executive Anna Gudmundson said the change in moniker was a step in its transformation strategy as the company has effectively shut down the consumer business to focus on the growing corporate wellness market.

This market was worth $43.3bn in 2015 and grew 6.4% from 2013 to 2015, according to the Global Wellness Institute.

She added: "In the last few months, the company has announced significant new customer wins and formed a new partnership with Olympic gold medallist Sally Gunnell, OBE - all of which contribute to proving the business case for Kin Wellness as a B2B organisation."

Shares in Fitbug were up 1.22% to 0.124p at 1419 BST.