Innovative Eyewear Announces Lucyd Armor™ Safety Certification for Canada

Rhea-AI Summary

Innovative Eyewear (NASDAQ: LUCY) has announced that its Lucyd Armor™ smart safety glasses have received CAN/CSA Z94.3:20 safety certification for workplace use in Canada. The Armor line, launched in October 2024, has achieved significant market traction with a 4.1/5 rating on Amazon and over 90% of initial production sold.

The company plans to expand distribution through Amazon.ca and partnerships with Canadian eyewear retailers New Look and Kits.com in 2025. The Lucyd Armor™ is part of the company's ChatGPT-enabled smart eyewear portfolio, which includes brands such as Nautica®, Eddie Bauer® and Reebok®.

Positive

• Obtained Canadian safety certification for workplace use
• 90% of initial Armor production run has been sold
• 4.1/5 rating on Amazon indicates strong product acceptance
• Expansion into Canadian market through major retailers planned

Negative

• None.

Insights

Market Research Analyst

The Canadian safety certification for Lucyd Armor™ smart safety glasses represents a modest market expansion opportunity, but several factors temper its immediate impact. The Canadian workplace safety equipment market is significantly smaller than the US market, estimated at roughly 1/10th the size. While the certification enables access to new distribution channels through New Look and Kits.com, the revenue potential appears relative to LUCY's current $14M market cap.

The reported 90% sell-through rate of initial production and 4.1/5 Amazon rating indicate positive product-market fit, though absolute sales volumes aren't disclosed. For context, the global smart eyewear market remains nascent, with safety-certified products representing an even smaller subset. The Canadian certification, while positive for credibility, is unlikely to materially impact near-term financials given the company's early stage and scale.

Sales Channel Expert

The planned expansion through Amazon.ca and partnerships with major Canadian eyewear retailers presents a structured go-to-market approach, though execution risks remain. New Look Vision Group commands roughly 30% of Canada's optical retail market, while Kits.com has emerged as a leading online player. However, the B2B sales cycle for safety equipment typically involves lengthy procurement processes and requires building relationships with safety officers and industrial suppliers.

The certification timing aligns well with the start of many companies' annual safety equipment budget cycles, but establishing distribution networks and gaining workplace adoption will likely take several quarters. The lack of specific revenue projections or existing purchase commitments from Canadian customers suggests this expansion, while strategically sound, should be viewed as a gradual build rather than a catalyst for immediate sales growth.

MIAMI, Jan. 16, 2025 /PRNewswire/ -- Innovative Eyewear, Inc. (NASDAQ: LUCY; LUCYW), the developer of ChatGPT-enabled smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announces that its groundbreaking Lucyd Armor™ smart safety glasses have received CAN/CSA Z94.3:20 safety certification. Lucyd Armor can now be sold in Canada as a certified safety glass for workplace use.

The Armor line launched in October 2024, with thousands of customers already enjoying the new smart eyewear platform for a range of uses from work to sport. The product boasts a 4.1/5 rating on Amazon, and over 90% of the initial production run has sold, which we believe indicates customer satisfaction with the product.

"From the moment Armor launched we knew we were filling a market need that had been unaddressed," said Harrison Gross, CEO of Innovative Eyewear. "I am so pleased that we can now extend our reach to our neighbors in the North with this unique product. I hope to be launching the Armor line shortly on Amazon.ca, and offering the frame through our partnerships with New Look and Kits.com, two of the largest eyewear retailers in Canada, in 2025,."

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 smart 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 anticipated introduction of new products and features, and timing of improvements and enhancements to our current products. 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. These forward-looking statements include, but are not limited to, statements regarding the expected launch date for the new smart safety eyewear connection. 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."

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SOURCE Innovative Eyewear, Inc.

FAQ

What safety certification did Lucyd Armor (LUCY) receive in Canada?

Lucyd Armor received the CAN/CSA Z94.3:20 safety certification, allowing it to be sold as certified safety glasses for workplace use in Canada.

How successful has the Lucyd Armor (LUCY) launch been since October 2024?

The launch has been successful with over 90% of initial production sold and a 4.1/5 rating on Amazon.

Which Canadian retailers will distribute Lucyd Armor (LUCY) in 2025?

Lucyd Armor will be available through Amazon.ca, New Look, and Kits.com in Canada.

What is the customer satisfaction rating for Lucyd Armor (LUCY) on Amazon?

Lucyd Armor has received a 4.1/5 rating on Amazon, indicating strong customer satisfaction.