ETHICAL retailer Point OV has set ambitious targets to increase its turnover tenfold in the next three years and to create jobs in the region.

The Newcastle firm wants to strengthen its presence in the lucrative ethical market, which is worth an estimated £29bn, by expanding its range of products and services.

In the past year, Point OV has seen its turnover quadruple to £1m, while staff numbers have more than doubled to 14 with a move into bigger premises.

Andy Redfern, who founded the company with Vic Morgan, said turnover was expected to smash through the £10m mark in only three years, and predicted that the headcount would increase to 45 by 2008.

Mr Redfern said: "This year alone we have quadrupled turnover from £250,000 to £1m. We are now wanting to really grow the company.

"The ethical market was recently valued at £29bn and we believe we have the right range of products to move the company forward quickly."

Point OV operates four businesses:

* Fair Trade Media - a catalogue of fair trade products that communicate a message, such as T-shirts, greeting cards and calendars;

* ethicalsuperstore.com - an online shop selling more than 800 fair trade and eco-friendly gifts, gadgets and groceries from across the world.

* Point OV Business Services - a range of web design, marketing and e-commerce services provided to fair trade companies and charities.

* Zero Point Zero - a social networking and activist website for people around the world, which will be officially launched next month.

Before launching Point OV, Mr Redfern was already well-known for his work in the fair trade industry.

From joining Traidcraft as UK programme director, through to his role as international and operations director for Traidcraft and non-executive board member of Cafedirect Ltd, he gained experience in developing and managing ethical ventures on behalf of others.

He then met American Mr Morgan, who is best known in the fair trade industry from his work with OneNest - a pioneering company in ethical sourcing and distribution in New York.

The pair set up Point OV in 2004, and have developed the firm with grant aid and support from organisations including Business Link, Newcastle City Council and the Arts Council.

The company has recently struck a deal with a mystery Premiership footballer to endorse and launch a fair trade product in the coming weeks.