Tekcapital investee to list products with Dick's, Best Buy Canada

Intellectual property investment company Tekcapital announced on Wednesday that its portfolio company Lucyd had its Innovative Eyewear division approved by North American retailers Dick’s Sporting Goods and Best Buy Canada.

The AIM-traded firm said the approval would allow Innovative Eyewear to provide its ‘Lucyd Lyte’ smart eyewear on the Dick’s Sporting Goods and Best Buy Canada e-commerce platforms, with products expected to be available on both in the next 30 days.

Tekcapital noted that Dick’s Sporting Goods is the largest sporting goods retailer in the United States, while Best Buy is Canada’s third-largest e-commerce platform for consumer electronics after Amazon and Apple, according to ecommerceDB.

“We are thrilled to launch our Lucyd Lyte products on Dicks.com and BestBuy.ca,” said Innovative Eyewear co-founder and chief executive officer Harrison Gross.

“We believe Lucyd Lyte eyewear is perfect for active lifestyles, since it allows you to enjoy music and calls handsfree without obstructing your hearing.

“We also believe it is a natural fit for those looking for the next big thing in fitness tech and eye protection from Dick's and Best Buy - two retailers whose influence over their respective markets cannot be overstated.”

Tekcapital currently owns 100% of the share capital of Lucyd, and around 81% of the share capital of its United States operating subsidiary Innovative Eyewear.

At 1229 GMT, shares in Tekcapital were up 2.48% at 29.71p.