MIAMI, Jan. 11,
2024 /PRNewswire/ -- Innovative Eyewear, Inc.
("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW), the
developer of cutting-edge smart eyewear and operator of the Lucyd®,
Nautica®, Eddie Bauer® and Reebok® brands for smartglasses, is
pleased to disclose a summary of notable achievements in 2023,
primarily in the product development sphere. The Company believes
these developments have significantly advanced its goal of building
the global standard in smart eyewear.
Model wearing the Lucyd Lyte® Jupiter XL style. Courtesy of
Innovative Eyewear, Inc.
Frame & Software Innovations
- Launched the Lucyd Lyte 2.0 line in 15 unique styles, including
seven styles for women, which we believe is the most ever launched
in a smart eyewear line.
- Upgraded our core product to add spring hinges, thinner temples
and improved sound and microphone quality with our Lyte XL line,
adding 6 new styles that fit most men, and will fit as 'oversized'
on most women.
- Launched the patent-pending Lucyd app which enables handsfree
connection to ChatGPT when the glasses are connected to most Apple
devices. Additionally, the app provides a number of free AI
features such as texting GPT. This app made our glasses the
first-ever voice interface for ChatGPT when it launched in
April 2023, which we believe
illustrates our team's ability to innovate quickly in response to
market and tech trends.
- Completed development of three additional product lines which
we believe will be launching this year: Nautica powered by Lucyd,
Eddie Bauer powered by Lucyd, and
the Lucyd Lion Safety Glass.
Intellectual Property
- Filed patent applications on the ChatGPT app and our glasses
designs, bringing our number of owned or exclusively licensed
patents and applications to 66.
- Acquired a non-exclusive license to a portfolio of 46 smart
eyewear patents, bringing our total number of owned and licensed
patents and applications to 109.
- Received notice of allowance on 14 design patents.
Marketing and Brand Initiatives
- Launched the Nautica Powered by Lucyd line with eight new
styles of smart eyewear, our first fashion-branded collection.
Watch a video introduction to the collection here.
- Augmented our partnership with Authentic Brands, Inc. by
acquiring a multi-year exclusive global license to the
Reebok® brand for smart eyewear.
- Thanks to improved products and marketing, we have seen growth
in most verticals in 2023, including a larger social media
following. Our Instagram following has grown to over 12,000 people,
and our newsletter subscribers have increased to 32,000.
- Our count of partner optical stores has increased to over 300.
Notably, we have begun a multi-store test campaign with a leading
eyewear chain in Canada.
- Engaged dozens of influencers to promote our products,
including a notable brand ambassadorship with Emmanuel Ogbah, defensive end of the Miami
Dolphins team. As a result of this partnership, Lucyd Lyte glasses
were featured on the HBO's Hard Knocks program being worn by
several Miami Dolphins, and in the Dolphin's team Instagram
stories.
- The Company was featured in a number of leading business news
outlets in 2023, including Forbes, Benzinga and Modern Wall
Street.
- The popular ScreenRant website rated Lucyd Lyte the #1
Bluetooth sunglasses for style variety.
In sum, the year included what we believe were positive trends
in the Company overall, including landmark improvements to our core
products, accelerating market traction and an expanding
intellectual property portfolio. "2023 was a challenging year in
global markets, but I am pleased to share that our Company is
growing, and making great strides towards our goal of mass-market
consumer adoption of smart eyewear. Thanks to new enhancements of
our core product and marketing initiatives, we are satisfying more
customers than ever with our brand promise to Upgrade Your
Eyewear®. We anticipate 2024 to bring many exciting new
developments surrounding the launch of our first co-branded lines
with Nautica, Eddie Bauer and
Reebok, and the launch of the Lucyd Lion Bluetooth Safety Glass
line," said Harrison Gross, CEO
Innovative Eyewear.
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer of cutting-edge
ChatGPT-enabled smart eyewear, under the Lucyd®, Nautica®, Eddie
Bauer® and Reebok® brands. True to our mission to Upgrade Your
Eyewear®, our Bluetooth audio glasses allow users to stay safely
and ergonomically connected to their digital lives and are offered
in hundreds of frame and lens combinations to meet the needs of the
optical market. To learn more and explore our continuously evolving
collection of smart eyewear, please visit www.lucyd.co.
Forward Looking Statements
This press release contains certain forward-looking statements,
including those relating to the Company's business operations,
projections, market position, future product lines and developments
and intellectual property portfolio. Forward-looking statements are
based on the Company's current expectations and assumptions. The
Private Securities Litigation Reform Act of 1995 provides a
safe-harbor for forward-looking statements. These statements may be
identified by the use of forward-looking expressions, including,
but not limited to, "anticipate," "believe," "continue,"
"estimate," "expect," "future," "intend," "may," "outlook," "plan,"
"potential," "predict," "project," "should," "will," "would" and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters, but the
absence of these words does not mean that a statement is not
forward-looking. The Company undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future events or otherwise. Important factors that
could cause actual results to differ materially from those in the
forward-looking statements are set forth in the Company's filings
with the Securities and Exchange Commission, including its annual
report on Form 10-K under the caption "Risk Factors."
Investor Relations Contact:
Innovative Eyewear Inc.
Scott Powell
Skyline Corporate Communications Group, LLC
Office: +1 (646) 893-5835
Email: scott@skylineccg.com
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SOURCE Innovative Eyewear Inc.
