RCS - Tekcapital plc - Portfolio Company Update Innovative Eyewear Inc

TekcapitalAnnouncement

06/11/2024 07:00

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RNS Number : 0590L  Tekcapital plc  06 November 2024

 

    6 November 2024

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Innovative Eyewear, Inc. Announces Lucyd Smart Eyewear

Now Sold at Nebraska Furniture Mart

 

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group notes
that Innovative Eyewear, Inc. ("Innovative Eyewear" or "Lucyd")) (NASDAQ:
LUCY; LUCYW), the developer and retailer of ChatGPT enabled smart eyewear
under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, has announced
that the full range of Lucyd, and Powered by Lucyd products, will be available
at Nebraska Furniture Mart (NFM)Optical starting Black Friday, 2024.

 

Founded in 1937, Nebraska Furniture Mart, headquartered in Omaha, Nebraska, is
a Midwestern retailer with four locations that seek to redefine the retail
experience. The stores offer sunwear in Kansas City and The Colony and
beginning with the Omaha location's new NFM OPTICAL, they will carry numerous
Lucyd frames as well as the Company's sophisticated new Lucyd Kiosk standing
display.

 

A model sporting the new Lucyd Lyte® Darkside 2024 Edition

Image courtesy Innovative Eyewear, Inc.

 

 

 

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

"NFM is a highly regarded and well-established retailer, and we are thrilled
to work with an esteemed Berkshire Hathaway owned company. NFM has provided a
destination shopping experience for nearly a century, and I believe their
passion for groundbreaking retail experiences is an excellent match for our
unique designer smart eyewear. We believe this new category represents an
important step forward in eyewear, providing safer, open-ear audio for active
lifestyles, and wearable utility that makes information and communications
more accessible. This holiday season, go to NFM Optical to Upgrade Your
Eyewear®."

 

Rob Roggeveen, Senior Optical Buyer at NFM said:

"With the recent expansion into the Wellness sector with NFM Optical, we are
able to provide cutting edge technology and new and innovative optical
solutions to our customers. Lucyd's selection of smart eyewear offers another
level of service that we can offer our prescription and non-prescription
Optical customers. This is something special that opens up a whole new world
for eyeglass wearers."

 

Nebraska Furniture Mart is renowned for its exceptional merchandising prowess,
which is evident in its vast showrooms and curated product displays. The
company excels at creating immersive shopping experiences that cater to a
diverse range of customer preferences. By carefully selecting and arranging
furniture, appliances, electronics, and other home goods, NFM effectively
showcases the latest trends and styles while also highlighting timeless
classics. Their merchandising teams are skilled at storytelling through
product presentation, using lighting, color, and space to evoke emotions and
inspire customers. This commitment to visual merchandising, combined with a
wide selection of high-quality products, has contributed to NFM's success as a
leading furniture retailer.

 

To try Lucyd eyewear at NFM Optical this holiday season, including the new
Lucyd Armor™ smart safety glass, visit www.nfm.com (http://www.nfm.com) and
visit the NFM Optical page, or shop at their flagship Omaha, Nebraska store.

 

About NFM

NFM (Nebraska Furniture Mart), as originally named, was founded by Rose
Blumkin in 1937 in the basement of her husband's pawn shop in Omaha, Nebraska.
In 1983, investor Warren Buffett purchased a majority interest in NFM and made
it part of the Berkshire Hathaway family of companies. Today, NFM is one of
the nation's largest home furnishings retailers, selling furniture, flooring,
appliances and electronics. NFM currently has locations in Omaha, Nebraska,
Des Moines, Iowa, Kansas City, Kansas and Dallas-Fort Worth, Texas with a
planned fifth location in Cedar Park, Texas a suburb of Austin. For more
information on NFM, please visit www.nfm.com (http://www.nfm.com) .

 

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of ChatGPT smart eyewear, under
the Lucyd(®), Nautica(®), Eddie Bauer(®) and Reebok® brands. True to their
mission to Upgrade Your Eyewear(®), their 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) .

 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed
discoveries that can enhance people's lives. 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

 

Tekcapital currently owns 259,455 shares of Innovative Eyewear, Inc.

 

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)

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

 

Forward-Looking Statements

This press release contains certain forward-looking statements, including
those relating to the anticipated introduction of new products into new points
of distribution. Forward-looking statements are based on the Company's current
expectations and assumptions. The Private Securities Litigation Reform Act of
1995 provides a safe-harbor for forward-looking statements. These statements
may be identified by the use of forward-looking expressions, including, but
not limited to, "anticipate," "believe," "continue," "estimate," "expect,"
"future," "intend," "may," "outlook," "plan," "potential," "predict,"
"project," "should," "will," "would" and similar expressions that predict or
indicate future events or trends or that are not statements of historical
matters, but the absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements include, but are not limited
to, statements regarding the expected launch date for the new smart safety
eyewear connection. The Company undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new information, future
events or otherwise. Important factors that could cause actual results to
differ materially from those in the forward-looking statements are set forth
in the Company's filings with the Securities and Exchange Commission,
including its annual report on Form 10-K under the caption "Risk Factors."

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