Innovative Eyewear, Inc. Announces Lucyd Smart Eyewear Now Sold at Nebraska Furniture Mart

Rhea-AI Summary

Innovative Eyewear (NASDAQ: LUCY) announced that its full range of Lucyd smart eyewear products will be available at NFM Optical starting Black Friday, 2024. Nebraska Furniture Mart (NFM), a Berkshire Hathaway company, will showcase Lucyd frames and the new Lucyd Kiosk display at their locations, beginning with the Omaha store. The partnership marks NFM's expansion into the Wellness sector through NFM Optical, offering both prescription and non-prescription smart eyewear options, including the new Lucyd Armor™ smart safety glass.

Positive

• Partnership with established Berkshire Hathaway retailer NFM expands distribution network
• Products will be featured in NFM's new optical division, expanding market presence
• Full product range including new Lucyd Armor™ to be available at multiple retail locations

Negative

• None.

Insights

Market Research Analyst

The partnership with Nebraska Furniture Mart (NFM) represents a modest expansion of Innovative Eyewear's retail footprint, though its immediate impact may be NFM's four locations in the Midwest, while prestigious due to Berkshire Hathaway ownership, offer relatively small market penetration. For a $17.8M market cap company, gaining presence in NFM's optical department could provide incremental revenue growth, but is unlikely to be transformative.

The timing of the Black Friday 2024 launch aligns with peak holiday shopping, potentially maximizing initial sales exposure. However, the smart eyewear category remains niche and success will depend heavily on consumer education and adoption rates in NFM's traditional customer base. The inclusion of prescription options could help differentiate the product but faces competition from established eyewear retailers.

MIAMI, Nov. 5, 2024 /PRNewswire/ -- Innovative Eyewear, Inc. ("Innovative Eyewear" or "the Company") (NASDAQ: LUCY; LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announced that the full range of Lucyd, and Powered by Lucyd products, will be available at NFM Optical starting Black Friday, 2024.

NFM (Nebraska Furniture Mart), headquartered in Omaha, NE, is a powerhouse Midwestern retailer with four locations that redefine the retail experience, founded in 1937. The stores offer sunwear in Kansas City and The Colony and beginning with the Omaha location's new NFM OPTICAL, they will carry numerous Lucyd frames as well as the Company's sophisticated new Lucyd Kiosk standing display.

Harrison Gross, CEO of Innovative Eyewear, said "NFM is a highly regarded and well-established retailer, and we are thrilled to work with an esteemed Berkshire Hathaway company. NFM has provided a destination shopping experience for nearly a century, and I believe their passion for groundbreaking retail experiences is an excellent match for our unique designer smart eyewear. We believe this new category represents an important step forward in eyewear, providing safer, open-ear audio for active lifestyles, and wearable utility that makes information and communications more accessible. This holiday season, go to NFM Optical to Upgrade Your Eyewear^®."

Rob Roggeveen, Senior Optical Buyer at NFM said, "With the recent expansion into the Wellness sector with NFM Optical, we are able to provide cutting edge technology and new and innovative optical solutions to our customers. Lucyd's selection of smart eyewear offers another level of service that we can offer our prescription and non-prescription Optical customers. This is something special that opens up a whole new world for eyeglass wearers."

To try Lucyd eyewear at NFM Optical this holiday season, including the new Lucyd Armor™ smart safety glass, visit NFM.com and visit the NFM Optical page, or shop at their flagship Omaha, Nebraska store.

About NFM

NFM (Nebraska Furniture Mart), as originally named, was founded by Rose Blumkin in 1937 in the basement of her husband's pawn shop in Omaha, Nebraska. In 1983, investor Warren Buffett purchased a majority interest in NFM and made it part of the Berkshire Hathaway family of companies. Today, NFM is one of the nation's largest home furnishings retailers, selling furniture, flooring, appliances and electronics. NFM currently has locations in Omaha, Nebraska, Des Moines, Iowa, Kansas City, Kansas and Dallas-Fort Worth, Texas with a planned fifth location in Cedar Park, Texas a suburb of Austin. For more information on NFM, please visit www.nfm.com.

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 launch of our products in NFM. 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, our potential opportunities related to the launch of our smart eyewear products on Target.com. 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

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SOURCE Innovative Eyewear, Inc.

FAQ

When will Lucyd smart eyewear (LUCY) be available at Nebraska Furniture Mart?

Lucyd smart eyewear will be available at NFM Optical starting Black Friday, 2024.

Which Lucyd (LUCY) products will be sold at Nebraska Furniture Mart?

The full range of Lucyd products, including Lucyd Armor™ smart safety glass and other smart eyewear frames, will be available at NFM Optical.

Where can customers try Lucyd (LUCY) smart eyewear at Nebraska Furniture Mart?

Customers can try Lucyd eyewear at NFM's flagship store in Omaha, Nebraska, or check availability on NFM.com's Optical page.