Tekcapital notes eyewear investee partnership with travel goods firm

(Alliance News) - Tekcapital PLC on Wednesday said smart eyewear developer and retailer Innovative Eyewear Inc has formed a new retail partnership with travel luxury goods provider Privato Duty Free.

London-based Tekcapital has 5.2 million shares in Innovative Eyewear, around 40% of issued share capital.

The intellectual property investment company said Privato will be creating a retail showcase of Innovative Eyewear's Lucyd brand at seven of the company's airport-based locations as part of the partnership.

The showcase will include a number of Lucyd styles and the company's new modular LCD retail display that acts as an always-on, automated salesperson for Lucyd Eyewear.

Tekcapital said it expects the complete roll-out in the third quarter of 2023.

"Lucyd Eyewear makes an excellent product for travelers, since it allows you to hear music, audio content and notifications in an open-ear format, while maintaining full awareness," said Harrison Gross, chief executive officer of Innovative Eyewear, also noting artificial intelligence functionality via Microsoft Corp-backed ChatGPT.

"Any vacation or business trip can be made a bit more convenient and enjoyable with Lucyd Eyewear, and we are pleased to offer it through our new partner Privato at several leading airports."

Privato Managing Director Marco Arilli added: "We are always seeking to bring our clients the latest innovations in travel goods and luxury retail. Lucyd smart eyewear is an exciting new product and new category of sunglasses that we think our customers will love to use."

Shares in Tekcapital were down 0.1% to 10.99 pence each in London on Wednesday afternoon.

By Greg Rosenvinge, Alliance News reporter

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