Tekcapital shares were 4% higher on Friday after the company announced that its portfolio company, Innovative Eyewear, had placed its ChatGPT-enabled smart eyewear in ten New Look stores in Canada and on newlook.ca.
New Look is the largest optical group in Canada and has over 450 stores across the US and Canada. With Innovative Eyewear being placed in ten stores initially, the scope for expansion across New Look’s portfolio is material.
Harrison Gross, CEO of Innovative Eyewear said:
“We are thrilled to introduce our frames to Canadian eyeglass customers on the market-defining New Look website as well as in several of their beautiful stores in Montreal. When you enter a New Look store, you know you are in for an eyewear experience like no other. This is clear from the moment you meet their incredible staff, expansive selection of quality frames, and attention to detail in both their online and in-store experiences. We look forward to introducing their clientele to our innovative and unique smart frames.”
Today’s news follows the announcement of football pundit Micah Richards’ appointment as a Lucyd brand ambassador and new patent filings for a range of smart safety glasses.
Innovative Eyewear recorded more revenue in Q4 2023 than the prior three quarters, and recent announcements suggest this momentum will carry over into Q1 2024.