Tekcapital's Innovative Eyewear enters licensing deal with Reebok

20th Jun 2023 15:19

(Sharecast News) - Intellectual property investor and developer Tekcapital announced on Tuesday that its investee Innovative Eyewear had entered into an agreement with Authentic Brands Group to license sports brand Reebok for smart eyewear.

The AIM-traded firm said that under the licensing agreement, Innovative Eyewear was aiming to leverage Reebok's iconic brand identity and reputation to further enhance its smart eyewear offerings.

It said the collaboration between Innovative Eyewear and Authentic Brands Group signified a strategic partnership, combining the technology developed by Innovative Eyewear with the sports heritage and global recognition of the Reebok brand.

"Few names are as renowned as Reebok in the athletic marketplace," said Innovative Eyewear chief executive officer Harrison Gross.

"Our forthcoming Reebok smart eyewear collection, powered by 'Lucyd', will continue Reebok's legacy of bold and beautiful craftsmanship coupled with innovation and will align perfectly with today's active lifestyles.

"We believe sport enthusiasts are seeking designer eyewear that both protects their vision and allows them to remain connected to their digital lives in an open-ear, hands-free format."

Gross said there were four major segments of the eyewear market - ready-to-wear sunglasses, prescription eyeglasses, safety glasses and sport glasses, with the company aiming to upgrade all of the categories with its smart technology.

"Our partnership with Authentic for Reebok represents a significant step towards revolutionizing the sport eyewear segment with the convenient access to info and audio content and freedom from reliance on phone screens made possible by our Bluetooth frame technologies."

At 1459 BST, shares in Tekcapital were down 0.63% at 12.92p.

Reporting by Josh White for Sharecast.com.