MIAMI, Sept. 5,
2024 /PRNewswire/ -- Innovative Eyewear, Inc.
("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW), the
developer of ChatGPT-enabled smart eyewear under the Lucyd®,
Nautica®, Eddie Bauer® and Reebok® brands, is pleased to announce a
significant expansion into the Middle
East market through an exclusive distribution agreement with
Ecom Gulf FZCO (DBA Mixireal.com). To kick off the partnership,
Ecom Gulf FZCO will be participating in the Dubai AI & Web3 Festival,
showcasing Innovative Eyewear's cutting-edge ChatGPT smart
eyewear.
The exclusive distribution agreement with Ecom Gulf FZCO covers
the GCC countries, including the United
Arab Emirates, Saudi
Arabia, Kuwait,
Qatar, Bahrain, and Oman. This strategic partnership aims to
introduce Innovative Eyewear's smart glasses to a rapidly growing
market for tech products in the region. According to Statista[1],
in 2024, "The [traditional] eyewear market in GCC is projected to
generate revenue of US$1.81bn with a
CAGR of 3.02% (between 2024-2029), by 2029 the market is expected
to achieve a volume of 170m frames.
In the GCC, there is a growing demand for luxury eyewear brands,
with consumers willing to pay a premium for high-quality and
stylish frames."
Harrison Gross, CEO of Innovative
Eyewear, said "We are thrilled to partner with Ecom Gulf FZCO to
bring our stylish and user-friendly smart eyewear to the
Middle East. This region
represents a significant opportunity for growth, with its
tech-forward consumers and robust retail landscape. Their
participation in the Dubai AI & Web3 Festival aligns
perfectly with our expansion strategy and showcases our commitment
to the global adoption of smart eyewear."
"Their presence at the Dubai AI & Web3 Festival not only
allows us to demonstrate our products to a highly relevant audience
but also reinforces our position as a leader in the intersection of
fashion and technology," added Gross.
The Dubai AI &
Web3 Festival, scheduled for September
11-12, 2024, at Madinat Jumeirah, Dubai, provides an ideal platform for
Ecom Gulf FZCO to showcase Innovative's smart eyewear offerings.
The festival, focused on enabling digital economies, brings
together global leaders in artificial intelligence and Web3
technologies.
Hisham Elhusseini, CEO of Ecom
Gulf FZCO, said "I am excited to announce our partnership with
Innovative Eyewear, Inc. as the exclusive distributor of their
pioneering smart glasses in the Middle
East. This collaboration marks a key milestone in our
commitment to driving the future of smart living through GenAI
technology, and we look forward to introducing these innovative
products to our customers across the region."
To learn more about our ChatGPT enabled smart eyewear, please
visit Lucyd.co.
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer and retailer of ChatGPT 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.
About Ecom Gulf FZCO DBA Mixireal
MIXIREAL was founded with a dream to transform daily life
through the integration of metaverse technologies. Located in the
heart of the Middle East, MIXIREAL
serves as the first one-stop shop for augmented reality (AR),
virtual reality (VR), and smart eyewear. Our journey began with a
small team of tech enthusiasts dedicated to making the
extraordinary possibilities of the metaverse accessible to
everyone. By partnering with leading global brands, we curate a
selection of the best AR, VR, and smart eyewear devices, ensuring
quality and innovation.
We envision a future where immersive technology enhances everyday
activities—whether it's using AR glasses to visualize a new home
layout, VR headsets for interactive remote collaboration, or smart
eyewear for real-time information. MIXIREAL's mission is to help
people seamlessly integrate these technologies into their routines,
making life easier and more enjoyable. To learn more, visit
Mixireal.com.
Forward Looking Statements
This press release contains certain forward-looking statements,
including those relating to the anticipated timing of expansion of
our products into new markets. 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, "expect," "anticipate," "intend," "plan," "believe,"
"estimate," "potential," "predict," "project," "should," "would"
and similar expressions and the negatives of those terms. 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:
Scott Powell Skyline Corporate Communications Group, LLC
Office: +1 (646) 893-5835
Email: scott@skylineccg.com
1 https://www.statista.com/outlook/cmo/eyewear/gcc#:~:text=In%202024%2C%20the%20Eyewear%20market,volume%20of%20169.9m%20pieces.
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SOURCE Innovative Eyewear, Inc.
