RCS - Tekcapital plc - Innovative Eyewear,Inc. Global Licensing Agreement

TekcapitalAnnouncement

12/12/2023 07:15

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RNS Number : 3876W  Tekcapital plc  12 December 2023

12 December 2023

Tekcapital Plc

("Tekcapital")

 

Innovative Eyewear, Inc. Launches Nautica Smart Eyewear

Under Multi-Year, Global Licensing Agreement with Authentic Brands Group

 

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group
announces that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY;
LUCYW), the developer of ChatGPT enabled smart eyewear, is pleased to announce
through an agreement with Authentic Brands Group ("Authentic"), the launch of
the Nautica Smart Eyewear collection.

 

Harrison Gross, CEO of Innovative Eyewear Inc., commented:

"Smart eyewear was once firmly in the remit of early adopters and tech
enthusiasts alone. We are changing that forever by producing smart eyewear
that is not only a functional Bluetooth accessory, but a fun and trendy
fashion statement. Combining our technology with the popular and storied
Nautica brand is sure to delight consumers worldwide, and further advance our
mission to make the future of eyewear smart. We look forward to launching the
line via our optical store partners in January, as well as on Nautica.com soon
after."

 

Nautica smart eyewear will be made in eight initial sunglass styles, with two
of the styles also available with a blue light-blocking lens for indoor use.
All of the new frames will be able to accept prescription lenses. The
collection also features Nautica's first-ever "Global Fit" frame for consumers
with a low nose bridge, which paves the way for the products to be sold in
additional regions. The line also features hi-fi Bluetooth 5.2 audio, 12 hours
of music per charge, 99% post-consumer recycled packaging, patent-pending
auto-adjusting hinges, and several branded accessories including a power
brick, cleaning cloth and a slipcase with the iconic Nautica sail logo.

 

Henry I. Stupp, President, Lifestyle EMEA - INDIA  at Authentic commented:

"When it comes to Nautica, we've always been dedicated to providing consumers
with style and fashion. Partnering with Innovative Eyewear to launch Nautica
Smart Eyewear allows us to take that commitment to the next level. These smart
glasses not only reflect our brand ethos but also provide users with an
innovative and stylish way to engage with the world."

 

The Nautica smart eyewear line is expected to ship in January 2024.

 

About Nautica®

Drawing from the essence of the water and the currents of the world, Nautica
is a global lifestyle brand that creates style that's iconic, yet modern and
innovative in its fit, feel and function. Nautica is one of the most
recognized American brands in the world, with over 70 categories including
apparel, accessories and a home collection for men, women and children.
Nautica is available in nearly 1,300 freestanding stores and shop-in-shops in
more than 30 countries worldwide, as well as on nautica.com.

Follow @nautica on Instagram, Facebook and Pinterest.

 

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart
eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True
to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow
users to stay safely and ergonomically connected to their digital lives and
are offered in hundreds of frame and lens combinations to meet the needs of
the optical market. To learn more and explore our continuously evolving
collection of smart eyewear, please visit www.lucyd.co (http://www.lucyd.co) .

 

 

 

Photo courtesy of Innovative Eyewear Inc.

 

Tekcapital currently owns 5,189,086 shares of Innovative Eyewear, Inc.
(approximately 40%).

 

For further information, please contact:

 

 Tekcapital Plc                                                                     Via Flagstaff

 Clifford M. Gross, Ph.D.

 SP Angel Corporate Finance LLP                                                     +44 (0) 20 3470 0470

 (Nominated Adviser and Broker)
 Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees
 (Corporate Broking)

 Fagstaff Strategic and Investor Communications                                     +44 (0) 20 7129 1474
  Tim Thompson/Andrea Seymour/Fergus Mellon

 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed
discoveries that can enhance people's lives and provides a range of technology
transfer services to help organisations evaluate and commercialise new
technologies. Tekcapital is quoted on the AIM market of the London Stock
Exchange (AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com (http://www.tekcapital.com) .

 

LEI: 213800GOJTOV19FIFZ85

Forward-Looking Statements

This press release is for informational purposes only. The information herein
does not constitute investment advice nor an offer to invest and may contain
statements related to our future business and financial performance and future
events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital
that may constitute forward-looking statements. These statements may be
identified by words such as "expect," "look forward to," "anticipate"
"intend," "plan," "believe," "seek," "estimate," "will," "project" or words of
similar meaning. We may also make forward-looking statements in other reports,
in presentations, in material delivered to customers, stakeholders and in
press releases. In addition, our representatives may from time to time make
oral forward-looking statements. Such statements may be based on the current
expectations and certain assumptions of Tekcapital, Innovative Eyewear Inc. or
Lucyd's management. Please note that these are subject to a number of risks,
uncertainties and factors, including, but not limited to those described in
various disclosures. Should one or more of these risks or uncertainties
materialize, or should underlying expectations not occur or assumptions prove
incorrect, actual results, performance or achievements of Innovative Eyewear
Inc., Lucyd and/or Tekcapital may vary materially from those described
explicitly or implicitly in the relevant forward-looking statement. Other than
as required by relevant regulation or law, neither Innovative Eyewear Inc,
Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise
these forward-looking statements in light of developments which differ from
those anticipated.

 

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