Tekcapital's Innovative Eyewear inks deal with US firm

17th Apr 2024 11:15

(Sharecast News) - Intellectual property investor Tekcapital announced a fresh development from its portfolio company Innovative Eyewear on Wednesday, as the latter launched a strategic partnership with Windsor Eyes, a prominent eyewear manufacturing and distribution firm.

The AIM-traded firm said the collaboration was designed to leverage Innovative Eyewear's smart eyewear products with Windsor Eyes' extensive distribution network within the optical retail sector.

It said the two entities planned widespread distribution of smart eyewear across the United States, with a specific focus on key large optical retail outlets.

Innovative Eyewear specialises in the development and retailing of smart eyewear, offering Bluetooth audio glasses designed to allow users to stay connected to their digital lives.

"We are very pleased to announce our new partners at Windsor Eyes," said Innovative Eyewear chief executive officer Harrison Gross.

"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."

Tekcapital currently holds 5,189,086 shares of Innovative Eyewear, representing approximately 40% of the firm.

At 1014 BST, shares in Tekcapital were up 1.14% at 7.99p.

Reporting by Josh White for Sharecast.com.