Harrison Gross, CEO Innovative Eyewear, Inc. (NASDAQ: LUCY)
Interviewer Steve Macalbry
Senior Editor BestGrowthStocks.Com
Thank you for giving us the time to answer our questions.
Could you please provide a brief overview of your company’s operations?
The mission of our company is to Upgrade your eyewear®, by adding useful tech features to comfortable and stylish sunglasses and eyeglasses. Our products enable seamless Bluetooth connection to your digital life and prescription vision correction in one affordable and convenient package. Our flagship brand of smart eyewear is called Lucyd, and Lucyd eyewear is enjoyed by thousands of people around the world who want the convenience and utility of wireless headphones and glasses in one.
Could you provide some insight into how the patent for ChatGPT enabled smart eyewear will differentiate Innovative Eyewear in the smart glasses market, and what kind of competitive advantage do you believe this provides?
In April of this year, we were the first to introduce a voice interface for ChatGPT, enabling this incredible new AI in all of our glasses. The Company believes this first mover advantage will grow user adoption of Lucyd eyewear. When you combine ChatGPT with Lucyd eyewear, you truly have very smart glasses for the first time. With Lucyd eyewear you can ask ChatGPT any question and get answers spoken into the speakers on the glasses on the go.
With this integration of ChatGPT into your smart eyewear, how do you envision it impacting user experience, and can you share any user feedback or data that supports the potential success of this feature?
This free application enables the user to converse with the extremely popular ChatGPT AI language model on the glasses, to instantly gain the benefit of one of the world’s most powerful AI assistants in a hands-free, ergonomic interface. The app deploys a powerful and unique Siri and Google Voice integration with the Open AI API for ChatGPT, developed internally by the company and now pending patent. Lucyd glasses powered by ChatGPT can enable customers to stay connected and be better informed. While traveling you could ask the points of interest in a new city, or while cooking you can ask for a recipe to make a vanilla souffle and what ingredients you will need, you can ask the ChatGPT to write a memo or draft an email or suggest an appropriate birthday present for a 8 year old child. The potential is nearly limitless—it’s really like having a research assistant living in your glasses!
Could you share more about how the partnership with Reebok fits into Innovative Eyewear’s long-term growth strategy, specifically in targeting the athletic marketplace?
Our forthcoming Reebok smart eyewear collection, Powered by Lucyd®, will strive to continue Reebok’s legacy of bold and beautiful craftsmanship coupled with innovation and will align perfectly with today’s active lifestyles. We believe sport enthusiasts are seeking designer eyewear that both protects their vision and allows them to remain connected to their digital lives in an open-ear, handsfree format. We will use this collection to introduce true sport smartglasses, a segment of the optical market that hasn’t yet been upgraded with high quality smart features.
What are your expectations for the initial launch of the Reebok smart eyewear collection in 2024, and how do you envision this partnership enhancing the overall value proposition of Innovative Eyewear to investors?
The initial Reebok smart eyewear collection is expected to launch early in 2024 with styles for men and women. We believe our partnership with Authentic for Reebok represents a significant step forward towards revolutionizing the sport eyewear segment with the convenient access to info and audio content and freedom from reliance on phone screens made possible by our Bluetooth frame technologies. We believe the brand impact will be a powerful driver of smart eyewear sales for the Company in subsequent periods.
What sets Lucyd Eyewear apart from other smart eyewear products in terms of style and functionality?
Functionality:
1. Music playback and call time were extended to 12 hours, a 50% increase over the version 1.0 and making Lyte one of the longest-lasting true wireless audio devices on the market.
2. A four-speaker array was introduced, improving audio fidelity significantly compared to the version 1.0 model and many other smart eyewear products.
3. Styling of the frames deployed the Company’s new expert design team, producing smart eyewear that follows trending styles in 2023 in the traditional eyeglasses and sunglasses markets. The collection features many style firsts for a smart eyewear collection designed in the United States, that have proven commercially successful in traditional eyewear, such as titanium rose gold and champagne crystal styles for women, and gunmetal gray and acetate aviator styles for men.
4. The upgrade to a Bluetooth 5.2 chip improves connection stability, especially for older devices.
5. Responsiveness of touch controls improved with an audible tone added to alert the wearer when they have used a command successfully.
6. The transition of the LED status indicators to the interior of the temples, a change based on consumer feedback, makes the product more discreet.
7. Our Chat GPT app enables the user to converse with the extremely popular ChatGPT AI language model on the glasses, to instantly gain the benefit of one of the world’s most powerful AI assistants in a handsfree ergonomic interface.
Style:
1. We currently offer 15 styles, the most in the industry.
2. All styles are each available with 70 different lens types, resulting in hundreds of variations of products currently available.
3. We believe that people care about what they wear on their faces, and because we understand that customers have diverse preferences about the shape, size, and design of their eyewear, we aim to continuously introduce new models in an effort to offer a wide variety of designs. We continuously present new models of eyewear to our network of followers to vote on those styles they find most appealing. We view this as community approved design.
Can you describe the process behind creating the limited-edition summer lens variants and the Blueshift lenses for the Lucyd Lyte® smart eyewear?
We continuously present new models of eyewear and lens to our network of followers to vote on those styles they find most appealing. We view this as community approved design. A big part of what makes Lucyd Eyewear unique among smartglasses is that our frames align closely with current trends in the traditional optical and sunglass markets. Not only do some of our new Lyte 2.0 frames offer styling similar to some of the most popular “analog frames” of 2023, we believe our new Sundrop lens collection brings the freshest trends in lens tints to our best-in-class smart eyewear.
In addition we recently announced our new Blueshift lens which reduces blue light transmission by approximately 40% in the 380-500nm wavelength spectrum. The Lucyd Blueshift lens is an exclusive new lens upgrade offered with Lucyd eyewear, custom-developed by the Company, that provides the following benefits:
• The lens is photochromic, and tints to a polarized sunglass in bright environments, while remaining clear indoors. The lens will tint even without exposure to UV light, which is required to activate many other photo-sensitive lenses. This means they will darken behind a UV-blocking windshield and can be used for eye protection while driving.
• At the company’s in-house lens lab, each lens has manually applied a special blue light blocking layer that does not disrupt the lenses’ ability to transition to a sunglass. This additional coating provides an average of 40% filtration of harmful blue light, according to independent testing from Colts Labs.
• Unlike many other lenses offering this degree of blue light filtration, the lens does not have a significant yellow or amber tint, and is fully clear indoors. The resulting product is an ideal lens for mixed indoor/outdoor, on-screen and off-screen use.
• The Blueshift lens is available in both non-Rx and in any prescription, including progressive.
What market trends have you observed that led to the development of the Blueshift lens collection?
The current market trends in blue light blocking eyewear incorporate the following elements:
Fashionable frames: Blue light blocking glasses are now available in a wide variety of stylish frames, including aviators, wayfarers, cat-eye frames, and more. This makes it easy to find a pair of blue light blocking glasses that complement your personal style.
Comfortable materials: Blue light blocking glasses are now being made with more comfortable materials, such as lightweight plastics and memory foam nose pads. This makes them more comfortable to wear for long periods of time, even if you have sensitive skin.
Prescription friendly: There are now a number of blue light blocking glasses that are prescription friendly. This means that you can get a pair of blue light blocking glasses that also correct your vision.
Affordable prices: Blue light blocking glasses are now available at a variety of price points, making them more affordable for everyone.
Can you share the future plans of Innovative Eyewear for further integrating tech and fashion in its products?
We will continue to build on our perceived first mover advantage as the industry leading smart eyewear platform. That includes further improvements to our Vyrb and Lucyd apps, and building software content platforms, introducing new styles and sizes and increasing availability both online and in retail brick & mortar points of purchase.
How does Innovative Eyewear balance the cutting-edge technology of its smart eyewear with the need to stay on-trend in the optical and sunglass markets?
It comes down to our focus and the team – we are grateful to have top notch optical design talent on our team staying on top of newest trends, but also electrical and engineering know how on the team at the same time.
How do you see smart eyewear shaping the future of travel and lifestyle?
The ubiquitous nature of our product means it can be applied in almost every aspect of your daily life. This includes anything from looking up basic information with your voice while on the go, to asking ChatGPT to prepare a detailed travel itinerary best fit for your family with a 5-year-old child for example.
How does Lucyd Eyewear plan to manage and maintain the automated salesperson displays in the airport locations?
The new modular display system is plug and play and very easy to maintain. Since it plays video from an SD card, we can supply our retail locations with new SD cards by mail to update the displays with new content. Additionally, as part of the onboarding of new retail locations, we conduct zoom trainings to instruct them how to setup, position and maintain the displays.
In closing, is there anything you would like to add for our audience and the investment community?
We are very excited about the future of smart eyewear and the role Innovative Eyewear can play in upgrading the world’s eyewear. We encourage anyone interested in our mission to become an investor and follow the LUCY ticker.
More about Innovative Eyewear:
Visit the Website and Grab Yourself a Pair!
Why invest with Lucyd?
Innovative Eyewear was founded in Miami, Florida in 2019 to address a serious need in the market—stylish, ergonomic and user-friendly smartglasses at an affordable price point. In the short time since then, thousands of eyewear consumers and hundreds of eyecare providers have adopted our products as their go-to smart frames. We believe this is because our formula for smart eyewear that looks, feels and costs the same as traditional glasses is truly a game-changer for the optical market.
Mission Statement
In a world where digital data has become as vital as the seeing eye, we provide disruptive wearable solutions to enhance sight, sound and connectivity.
The Lucyd Dream (Vision Statement)
Smartphones and watches have improved on their original formats with digital connectivity, and eyewear is undergoing the same transformation. Lucyd leads the smart eyewear revolution by offering frames that are so advanced and accessible, that it is immediately obvious that switching to Lucyd eyewear is easier than continuing to use regular glasses. In the future, when the majority of eyewear will be smart, we aim to make lucyd the standard in value, utility and style.
Source: Lucyd website
Once again Harrison, Thank you for your time.
Steve Macalbry
Best Growth Stocks, Senior Editor
About Steve Macalbry
Steve Macalbry is a seasoned financial expert with a remarkable 30-year track record in trading and investing within the stock market. His exceptional understanding of financial markets and a keen eye for lucrative opportunities have not only driven individual success but have also laid the groundwork for countless others to thrive.
Steve began his career in the early ’90s, rapidly developing an intuitive grasp of market dynamics that propelled him into a high-stakes trading role. His ability to anticipate market shifts and act decisively set him apart from his peers. Over the years, his experience expanded to cover a wide range of assets including equities, commodities, and ETFs.
For a decade, Steve served as an apprentice to a Portfolio Manager for one of the largest investment firms in the country, where he helped manage multi-million-dollar portfolios and advise a variety of clients, from high net-worth individuals to institutional investors. His ability to balance risk and reward, whilst leveraging market fluctuations, resulted in consistently strong portfolio performance and enhanced client trust.
Today, Steve Macalbry is a renowned figure in the world of finance, sharing his wealth of knowledge with others and contributing regularly to top-tier finance publications. His unrivaled experience and passion for market analysis and education make him a pivotal asset to the global financial community.
Throughout his career, Steve’s philosophy has been simple: to demystify the stock market for the average investor, to provide insightful analysis for sophisticated traders, and above all, to generate substantial returns while mitigating risk. His decades of success stand as a testament to his knowledge, strategy, and tenacity in the ever-evolving world of stock market trading and investing.
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