REG - Tekcapital plc - Innovative Eyewear Licensing Agreement for Reebok

TekcapitalAnnouncement

20/06/2023 07:00

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RNS Number : 2041D  Tekcapital plc  20 June 2023

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The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as imported into the laws of England and Wales by virtue
of the European Union (Withdrawal) Act 2018 (as amended) and certain other
enacting measures ("UK MAR"). With the publication of this announcement via
a Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain.

 

20 June 2023

 

Tekcapital Plc

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

Innovative Eyewear, Inc. Announces Multi-Year, Global Licensing Agreement

With Authentic Brands Group for Reebok(®) Smart Eyewear

 

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property
investment group announces that Innovative Eyewear, Inc. ("Innovative
Eyewear") (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear
under the Lucyd®, Nautica®, and Eddie Bauer® brands is pleased to announce
that through an agreement with Authentic Brands Group (Authentic), a global
brand development, marketing and entertainment platform, it has licensed the
irreverent sports culture brand, Reebok® for smart eyewear.

 

Reebok® has inspired, connected and created great products for athletes and
consumers across the world for generations. The brand is deeply rooted in
professional sports, sneaker culture and performance apparel and will continue
to deliver on its mission of providing every consumer with the opportunity,
products and motivation to achieve and exceed their potential.

 

"We are pleased to partner with Lucyd to pioneer Reebok's smart eyewear
offering," said Steve Robaire, EVP - Reebok International at Authentic.
"Reebok is known for delivering innovation across all of its product
categories. Through Lucyd's Bluetooth® technology, we reinforce the brand's
standards in this emerging category."

 

"Few names are as renowned as Reebok in the athletic marketplace," says
Harrison Gross, CEO of Innovative Eyewear, Inc. "Our forthcoming Reebok smart
eyewear collection, powered by Lucyd®, will continue Reebok's legacy of bold
and beautiful craftsmanship coupled with innovation and will align perfectly
with today's active lifestyles. We believe sport enthusiasts are seeking
designer eyewear that both protects their vision and allows them to remain
connected to their digital lives in an open-ear, handsfree format. There are
four major segments of the eyewear market: ready-to-wear sunglasses,
prescription eyeglasses, safety glasses and sport glasses and our company aims
to upgrade all of these categories with our cutting-edge smart features. Our
partnership with Authentic for Reebok represents a significant step towards
revolutionizing the sport eyewear segment with the convenient access to info
and audio content and freedom from reliance on phone screens made possible by
our Bluetooth frame technologies."

 

The initial Reebok smart eyewear collection is expected to launch early in
2024 with styles for men and women.

 

 

 

About Authentic Brands Group

Authentic Brands Group (Authentic) is a global brand development, marketing
and entertainment platform, which owns a portfolio of more than 40 iconic and
world-renowned Lifestyle, Entertainment and Media brands. Headquartered in New
York City, with offices around the world, Authentic connects strong brands
with best-in-class partners and a global network of operators, distributors
and retailers to build long-term value in the marketplace. Its brands generate
more than $25 billion in global annual retail sales and have an expansive
retail footprint in 150 countries, including 10,800-plus freestanding stores
and shop-in-shops and 380,000 points of sale.

 

Authentic is committed to transforming brands by delivering powerful
storytelling, compelling content, innovative business models and immersive
experiences. It creates and activates original marketing strategies to drive
the success of its brands across all consumer touchpoints, platforms and
emerging media. Authentic's brand portfolio includes Marilyn Monroe®, Elvis
Presley®, Muhammad Ali®, Shaquille O'Neal®, David Beckham®, Dr. J®, Greg
Norman®, Neil Lane®, Thalia®, Sports Illustrated®, Reebok®, Brooks
Brothers®, Barneys New York®, Judith Leiber®, Ted Baker®, Hunter®,
Vince®, Hervé Léger®, Hickey Freeman®, Frye®, Nautica®, Juicy
Couture®, Vince Camuto®, Lucky Brand®, Aéropostale®, Forever 21®, Nine
West®, Eddie Bauer®, Spyder®, Volcom®, Shark®, Tretorn®, Prince®,
Airwalk®, Izod®, Jones New York®, Van Heusen®, Hart Schaffner Marx®,
Arrow® and Thomasville®.

 

For more information, visit authentic.com (http://authenticbrands.com) .

Follow Authentic on LinkedIn (https://www.linkedin.com/company/abg_nyc) ,
(https://twitter.com/authenticbrands?lang=en) Instagram
(https://www.instagram.com/weareauthentic/) and Twitter
(https://twitter.com/authenticbrands?lang=en) .

 

About Reebok

Reebok is an iconic and irreverent sports culture brand with a rich and
storied fitness heritage dating back to 1895. Founded on athletic footwear
that changed the direction of sport, Reebok continues to introduce innovations
that propel the industry forward. Today, Reebok sits at the intersection of
active, lifestyle and sport, offering high quality and modern styles that are
adaptable for every occasion. The brand strives to deliver every athlete, from
professionals to enthusiasts, with the opportunity, products and inspiration
to reach their full potential. Reebok currently operates in 80 countries with
approximately 400 freestanding stores around the world.

 

For more information, visit Reebok.com (http://www.reebok.com/) or, for the
latest news at News.Reebok.com (http://news.reebok.com/) . Discover Reebok on
Instagram
(https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.instagram.com%2Freebok%2F&data=04%7C01%7CJason.Silva%40reebok.com%7C9e3d39b6324341ba3ade08d9fc980078%7C3bfeb222e42c4535aaceea6f7751369b%7C0%7C0%7C637818552034176301%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=fFVWpvaPUjg%2F%2Bnk7IVKHUC3DEJtlkDMSfae0cd4K7W8%3D&reserved=0)
, Twitter
(https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Ftwitter.com%2Freebok&data=04%7C01%7CJason.Silva%40reebok.com%7C9e3d39b6324341ba3ade08d9fc980078%7C3bfeb222e42c4535aaceea6f7751369b%7C0%7C0%7C637818552034176301%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=vRj596lXR8i8ix2nBIlIFftQl2LcclBTEnQIOoHfqKg%3D&reserved=0)
and Youtube
(https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fyoutube.com%2Freebok&data=04%7C01%7CJason.Silva%40reebok.com%7C9e3d39b6324341ba3ade08d9fc980078%7C3bfeb222e42c4535aaceea6f7751369b%7C0%7C0%7C637818552034176301%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=m%2B6zR9ajWtKT95U2MEqKpahJgLycNvuVJBUO1WsQCsc%3D&reserved=0)
.

 

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of cutting-edge smart eyewear,
under the Lucyd(®), Nautica(®) & Eddie Bauer(®) 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) .

 

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

Tekcapital currently owns 5,189,086 shares (approximately 62%) 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 timing of launch of the initial Reebok smart
eyewear collection and other statements that are predictive in nature.
Forward-looking statements are based on the Innovative Eyewear Inc.'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 Reebok smart
eyewear connection. Neither Innovative Eyewear Inc. nor Tekcapital undertakes
any 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 Innovative Eyewear's filings with
the Securities and Exchange Commission, including its Annual Report on Form
10-K filed on March 24, 2023, under the caption "Risk Factors."

 

 

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