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Tekcapital Shares Rise On Innovative Eyeware Eddie Bauer License

Sam Boughedda
Sam Boughedda trader
Updated 29 Dec 2022

Tekcapital (LON: TEK) opened higher Thursday after it said that Innovative Eyewear (NASDAQ: LUCY) has announced that through an agreement with Authentic Brands Group, it has licensed the outdoor brand Eddie Bauer for smart eyewear.

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YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Tekcapital owns approximately 71% stake in Innovative Eyeware.

The developer and retailer of smart eyewear under the Lucyd and Nautica brands expects to launch the Eddie Bauer smart eyewear collection in 2023.

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YOUR CAPITAL IS AT RISK. 68% OF RETAIL CFD ACCOUNTS LOSE MONEY

“Few names are as renowned as Eddie Bauer in outdoor recreation,” commented Harrison Gross, CEO of Innovative Eyewear. “Our Eddie Bauer smart eyewear collection, powered by Lucyd, will continue Eddie Bauer’s legacy of bold and beautiful craftsmanship, coupled with innovation, and will align perfectly with today’s adventurous lifestyles.”

At the time of writing, Tekcapital shares are up 1.39% at 18.25p per share. However, the stock is down over 41% in 2022.

In its end-of-year review released Wednesday, Innovative Eyeware said that in 2023, it expects to launch the second generation Lucyd Lyte 2.0 product line. It also expects to launch the Nautica Powered by Lucyd smart eyewear, introduce the Lucyd Bluetooth temple into new eyewear verticals, and launch the full commercial release of the Vyrb social audio application.


YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.