TIDMTEK
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(R) 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(R), Nautica(R), and Eddie
Bauer(R) 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(R) for smart
eyewear.
Reebok(R) 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(R) 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(R), 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(R), Elvis Presley(R),
Muhammad Ali(R), Shaquille O'Neal(R), David Beckham(R), Dr. J(R),
Greg Norman(R), Neil Lane(R), Thalia(R), Sports Illustrated(R),
Reebok(R), Brooks Brothers(R), Barneys New York(R), Judith
Leiber(R), Ted Baker(R), Hunter(R), Vince(R), Hervé Léger(R),
Hickey Freeman(R), Frye(R), Nautica(R), Juicy Couture(R), Vince
Camuto(R), Lucky Brand(R), Aéropostale(R), Forever 21(R), Nine
West(R), Eddie Bauer(R), Spyder(R), Volcom(R), Shark(R),
Tretorn(R), Prince(R), Airwalk(R), Izod(R), Jones New York(R), Van
Heusen(R), Hart Schaffner Marx(R), Arrow(R) and Thomasville(R).
For more information, visit authentic.com .
Follow Authentic on LinkedIn , Instagram and Twitter .
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 or, for the latest news
at News.Reebok.com . Discover Reebok on Instagram , Twitter and
Youtube .
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer and retailer of cutting-edge
smart eyewear, under the Lucyd(R) , Nautica(R) & Eddie Bauer(R)
brands. True to our mission to Upgrade Your Eyewear(R) , 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 .
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 .
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
(Nominated Adviser and Broker) +44 (0) 20 3470 0470
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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END
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June 20, 2023 02:00 ET (06:00 GMT)
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