Tekcapital’s Innovative Eyewear expands Lucyd Lyte® range across the US
(TEK ) said its portfolio company, Lucyd’s Innovative Eyewear subsidiary, has been approved by two big US retailers to expand the presence of its Lucyd Lyte® smart eyewear.
The investment company Tekcapital currently owns 100% of the share capital of Lucyd Ltd and around 80% of the share capital of Lucyd’s operating subsidiary, Innovative Eyewear, Inc.
The company outlined to investors that DICK’s Sporting Goods®, the largest sporting goods retailer in the US, as well as Best Buy®, one of the largest electronics retailers in North America, will provide a platform for Lucyd Lyte® via its ecommerce channels, respectively.
As a result, DICK’s Sporting Goods® will feature Tekcapital’s range of prescription eyewear, on dickssportinggoods.com, while BestBuy.feature them on its Canadian ecommerce site. The products are expected to be available on both platforms within the next 30 days, it noted.
Lucyd’s objective is to Upgrade your Eyewear® “with advanced ergonomic smart glasses that are easy to use, fun to wear, and help you stay safely connected to your digital life.” The brand and IP portfolio are exclusively licensed to and operated by Innovative Eyewear, Inc.
Commenting on the US and North American expansion, Harrison Gross, Chief Executive and Co-Founder of Innovative Eyewear, said “We are thrilled to launch our Lucyd Lyte products on Dicks.com and BestBuy.ca. We believe Lucyd Lyte eyewear is perfect for active lifestyles, since it allows you to enjoy music and calls handsfree without obstructing your hearing.”
Gross said the influence of both retailers in their respective markets “cannot be overstated.”
Last month, Innovative Eyewear Inc. subsidiary, filed a registration statement for a proposed IPO in the United States after submitting an application for the proposed IPO in October 2021. In November 2021, it was approved by Best Buy® to provide smart eyewear on BestBuy.com.
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