Innovative Eyewear partners with MODIVO Group for European distribution

Innovative Eyewear Inc. (NASDAQ: LUCY) announced a distribution agreement with MODIVO Group (WSE: MDV), a European fashion retailer operating approximately 1,400 stores, according to a company press release.

MODIVO Group plans to test Innovative Eyewear's smart glasses initially in its Sklep Biegacza running stores. The rollout will focus on the Reebok Powered by Lucyd product line.

Harrison Gross, CEO of Innovative Eyewear, stated the partnership represents the company's entry into the European market. "We are very excited to break into the European market with MODIVO, and the massive potential this partnership has to upgrade Europe's eyewear," Gross said.

Krzysztof Burak, Business Development Director for MODIVO Group, described the collaboration as focusing on the Reebok brand, which he called "a key brand for our organization." Burak indicated this represents the first step in the partnership with Innovative Eyewear.

Innovative Eyewear develops and manufactures smart eyewear under the Lucyd, Lucyd Armor, Reebok, Eddie Bauer and Nautica brands. The company's products feature Bluetooth audio capabilities and are available in multiple frame and lens combinations.

MODIVO Group operates across 20 markets with stores and e-commerce properties under banners including CCC, HalfPrice, eobuwie, MODIVO, Worldbox, and Boardriders. The company trades on the Warsaw Stock Exchange and is included in the WIG20 blue-chip stock index.

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