TIDMTEK
RNS Number : 7214K
Tekcapital plc
24 April 2020
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 ("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.
24 April 2020
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Lucyd, Ltd
LUCYD Launches Bluetooth(R) Eyewear on Walmart.com
Tekcapital Plc (AIM: TEK), the UK intellectual property (IP)
investment group focused on creating marketplace value from
investing in university technology, is pleased to announce an
update for its wholly owned portfolio company Lucyd Ltd, the
developer of smartglasses and an eShop for advanced eyewear. Lucyd
is expanding its online presence to Walmart.com and other new
platforms, in addition to its presence on Amazon.
This presents a new opportunity for the company to reach the
rapidly expanding Walmart.com customer base, which is estimated to
make up about 6% of the entire ecommerce sector in the US. There
are approximately 45 million monthly visitors to Walmart.com, and
about 75% of the products sold come from 3rd party sellers.(1) In
fiscal year 2019, Walmart.com saw a 37% growth in sales, with much
of this growth coming from Q4.(2) In the wake of the changing
retail landscape, Lucyd is aggressively expanding its online
direct-to-consumer efforts, in a global push to make its
smartglasses available to consumers that need them.
In addition to the Walmart.com presence, where Lucyd will
provide direct fulfilment, the Company has also listed its flagship
Loud 2020 line on both the popular eBay marketplace as well as the
Mercari selling app. The large audiences on these marketplaces will
help Lucyd reach even more customers, with eBay estimated at 167
million active users worldwide and Mercari at approximately 15
million.(3,4) All new platforms that Lucyd has joined are likely to
experience an uptick in sales traffic due to the increased reliance
on ordering online as a result of closure of non-essential shops
due to COVID-19.
Furthermore, Lucyd has joined several other new and growing
marketplaces, including the OfferUp app, the Letgo app and has also
opened an Instagram shopping portal. These new platforms afford a
greater degree of customer engagement compared to the relatively
unilateral experience on most channels, in addition to providing
contactless delivery.
Tekcapital believes these new developments will have a positive
impact on Lucyd's brand visibility. Visit Lucyd's new Walmart pages
for Loud XL and Loud Slim . To order Lucyd eyewear with a
prescription, or for international sales, please visit Lucyd.co
.
Harrison Gross, CEO and Co-founder of Lucyd said: "Buyers,
particularly our core audience of millennials, are consistently
shifting towards decentralized marketplaces such as Walmart.com and
Amazon, and peer-to-peer selling apps. These new marketplace
presences are part of our broader plan to modernize the eyewear
industry, and bring our next-gen frames to cutting-edge retail
experiences."
About Lucyd
The mission of Lucyd is to Upgrade Your Eyewear(R) . Lucyd is
pioneering a new market for prescription-ready, tech-enhanced
glasses, and operates an eShop for innovative eyewear. To learn
more, please visit https://lucyd.co .
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Flagstaff IR
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated
Adviser and Joint Broker) +44 (0) 20 3470 0470
Richard Morrison / Charlie Bouverat (Corporate
Finance)
Abigail Wayne (Corporate Broking)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9427
Colin Rowbury (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0)207 129
1474
Tim Thompson/Andrea Seymour/Fergus Mellon
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 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 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 Lucyd and/or Tekcapital may
vary materially from those described explicitly or implicitly in
the relevant forward-looking statement. Neither 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.
References:
1. https://expandedramblings.com/index.php/walmart-statistics/
2.
digitalcommerce360.com/2020/02/18/walmarts-online-sales-grow-37-in-2019-and-increase-35-for-the-fourth-quarter/
3. https://blog.edesk.com/resources/amazon-vs-ebay/
4. https://expandedramblings.com/index.php/mercari-facts-statistics/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCPPUCCCUPUGRW
(END) Dow Jones Newswires
April 24, 2020 02:00 ET (06:00 GMT)
Grafico Azioni Tekcapital (LSE:TEK)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Tekcapital (LSE:TEK)
Storico
Da Lug 2023 a Lug 2024