Tekcapital says Innovative Eyewear strikes deal for US distribution

(Alliance News) - Tekcapital PLC on Wednesday said its portfolio company, Innovative Eyewear Inc, has secured a new partnership deal with Windsor Eyes Inc.

The London-based intellectual property investor said the collaboration is for the distribution of smart eyewear products in the US.

Innovative Eyewear is a Miami-based developer of tech eyewear and smartglass apps under the Lucyd, Nautica, Eddie Bauer and Reebok brands. Tekcapital currently owns a 40% stake in Innovative Eyewear.

Commenting on the partnership, Innovative Eyewear Chief Executive Officer Harrison Gross said: "We are very pleased to announce our new partners at Windsor Eyes. We believe our proprietary smart frame technology, coupled with their decades of experience in the optical market, will be a powerful partnership that can potentially put smart eyewear in the hands of consumers throughout the US."

Shares in Tekcapital were up 1.1% at 7.99 pence each in London on Wednesday morning.

By Sabrina Penty, Alliance News reporter

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