Tekcapital's Lucyd signs North America distribution deal

Technology intellectual property investment company Tekcapital said on Monday that its portfolio company Lucyd has signed a distribution agreement with D Landstrom Associates to build distribution of its ‘Lyte’ bluetooth smart eyewear in North America.

The AIM-traded firm said D Landstrom would look to establish the distribution of Lucyd products with general merchandise and specialty big-box stores, including Walmart, Target and Best Buy.

It described Lucyd Lyte as “prescription-ready” eyewear that appears and functions like designer spectacles, with smart features built-in.

The glasses enable wearers to play music, take phone calls and use voice assistants such as Apple’s ‘Siri’ and Amazon’s ‘Alexa’, while maintaining situational awareness with open-ear audio, and optional vision correction with prescription lenses made by Lucyd.

“We are very excited to be working with D Landstrom Associates to launch the Lyte into national distribution,” said co-founder and chief executive officer Harrison Gross.

“For more than 40 years, D. Landstrom Associates has built a reputation of introducing exciting new products into national retail stores.

“With more than 90 five-star reviews, Lyte is gaining significant ecommerce traction through our social media and influencer marketing, and we view bricks-and-mortar distribution as a natural complement to this growth.”

At 1356 GMT, shares in Tekcapital were down 0.09% at 10.99p.