MIAMI, June 14, 2024 /PRNewswire/ -- Innovative Eyewear
Inc. ("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW),
the developer of smart eyewear under the Lucyd®,
Nautica®, Eddie
Bauer® and Reebok® brands, is pleased
to provide a sales and marketing update.
Strategic Partnerships and Market Expansions
- Industry Presence. In March, Innovative Eyewear
showcased its latest advancements at Vision Expo East, followed by
a presentation at the Boston Reebok Spring Meetup. We believe these
events provided valuable networking opportunities, customer
feedback on new products, and strengthened our market
presence.
- Big Box distribution. We have secured a new partnership
with Windsor Eyes, a distributor for select US optical and big box
channels.
- New Retail Opportunities: As touched on in our recent
quarterly results release, interest in smart eyewear driven by
Apple's Vision Pro product and Ray Ban
Meta glasses has increased optical retailer interest in
partnering with the Company. We believe this is evidenced by our
current multi-store test with New Look Vision Group, the largest
optical chain in Canada by number
of locations. We are also in discussions with major domestic
eyewear retailers and distributors for potential late 2024 / early
2025 sales of smart eyewear under our licensed brands.
- Latin America: We are
pursuing new opportunities with optical retailers in Latin America, broadening our international
reach. So far, we have partnered with FUDEM (the state opticianry
of El Salvador), Optometra stores
in Puerto Rico, DiOptik in
Bolivia, Distribuidora De
Productos Opticos SA in Honduras
and Universo Optico SA in Guatemala. We are also in discussions with
optical chains in Brazil and
Mexico for rollouts in those
markets, which are the two biggest markets in Latin America.
- Amazon Germany: We have
launched our Amazon store in Germany, making our products available
throughout the entire EU. This move marks the first entry of smart
eyewear powered by Lucyd in these 27 countries. It aims to kick off
a flywheel effect, driving distributor interest in the EU and
expanding into the Middle East,
Africa, and Eastern Europe. You can visit our store at
Amazon Germany.
Product Launch and Market Interest
Since the beginning of the year, demand for our Nautica and Eddie Bauer licensed products has
grown, as we garner interest from optical groups across the
USA and LATAM.
Reebok Smart Eyewear and Lucyd Armor: Both lines are on
track to ship to consumers and retailers in Q4. We view these
projects as strategic as they leverage the rising demand for smart
eyewear. They are key to establishing a first-mover advantage in
the generative smart eyewear market for athletic and industrial
applications. Additionally, we are expanding into existing
brick-and-mortar distribution channels and exploring opportunities
in industrial and home improvement sectors. The launch of these
products will complete the Company's coverage of all four major
segments of the smart eyewear market: sunglasses, eyeglasses, sport
glasses and safety eyewear.
With upcoming upgrades to Siri, and other voice AI's like
Microsoft Copilot emerging, we believe our products are
well-positioned as an interface for these systems. Our products,
branded with household names such as Nautica, Reebok, and
Eddie Bauer, perfectly align with
this new era of generative voice computing, providing the ideal
wearable fashion accessory for seamless integration into this
evolving technological landscape. Our frames are device and AI
agnostic, making them an ergonomic and flexible onramp for almost
any user to streamline their interactions with voice-based
platforms.
Commitment to Excellence
"Our goal is to revolutionize the eyewear industry by
integrating advanced technology with everyday functionality," said
Joaquin Abondano, COO of Innovative
Eyewear Inc. "We are excited about the positive reception of our
new collections and the opportunities ahead. We believe this will
be a watershed year for the Company, as smart eyewear interest and
enthusiasm is at a peak that hasn't been seen since the launch of
Google Glass 10 years ago. What we believe is different this time
around is that the products are accessible, aesthetically-pleasing
and incredibly convenient for the average eyewear consumer."
About Innovative Eyewear Inc.
Innovative Eyewear is a developer and retailer 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
about our smart eyewear collection and explore the future of
eyewear technology, please visit www.Lucyd.co.
Forward-Looking Statements
This press release contains certain forward-looking statements,
including those relating to the launch of new products and sales
and marketing efforts. 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. 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."
Investor Relations Contact:
Scott Powell
Skyline Corporate Communications Group LLC
Office: +1 (646) 893-5835
Email: scott@skylineccg.com
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SOURCE Innovative Eyewear, Inc.