Tekcapital portfolio company Innovative Eyewear has secured promising licensing deals with Nautica, Eddie Bauer & Reebok, which will see Lucyd’s smart eyewear technology distributed through hundreds of leading activewear stores.
The agreements pay testament to not only Innovative Eyewear’s commercial prowess but also the attractiveness of their underlying technology, which provides access to ChatGPT generative AI.
Securing a licensing agreement with Reebok is the latest win for Innovative Eyewear. It can now look forward to its technology being utilised by one of the world’s leading sporting brands.
Innovative Eyewear has carefully selected brands that cover different areas of the sports and lifestyle market.
Reebok will appeal to the global mass market and a younger, trendier audience, while Nautica will cover the more sophisticated leisure consumer.
By securing agreements with leading activewear brands, Innovative Eyewear now has the opportunity for their products to be stocked in hundreds of stores globally and provide consumers with the opportunity to try Nautica, Eddie Bauer & Reebok brand smart eyewear powered by Innovative Eyewear technology.
Future sales
With the licensing agreements only recently inked, investors can look forward to sale figures in Innovative Eyewear’s future earnings releases.
To gauge the potential market opportunity and what future sales could look like, Innovative Eyewear has made comparisons to the smartwatch market.
Research predicts the smartwatch industry is set to reach US$44.91bn in 2023. Innovative Eyewear CEO Harrison Gross feels smart eyewear can mirror smartwatch growth as the adoption of smart eyewear technology accelerates.
Smart eyewear is a number of years behind smartwatches but should smart eyewear become anywhere near as successful as watches, Innovative Eyewear is set to benefit from substantial first-mover advantages.
