Tekcapital's Innovative Eyewear enters licensing deal with Reebok

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.