The Oxford Science Park-based IP investment company, Tekcapital, which buys and commercialise technologies developed by its global university network, has announced that its US-based wholly-owned smart eyewear portfolio company, Lucyd, Lucyd had joined the Walmart.com and eBay online marketplaces, potentially exposing its products to millions of new shoppers.
This presents a new opportunity for the company to reach the rapidly expanding Walmart.com customer base, which is estimated to make up about six per cent of the entire US e-commerce sector in the US.
In the wake of the changing retail landscape, Lucyd is aggressively expanding its online direct-to-consumer efforts, in a global push to boost sales.
Harrison Gross, CEO and Cofounder of Lucyd said, “In this challenging retail environment, where most brick and mortar optical stores are closed, now more than ever customers are looking to purchase eyewear online. We leave no stone unturned in our mission to upgrade the world’s eyewear, and that includes meeting buyers wherever they are. Buyers, particularly our core audience of millennials, are consistently shifting towards decentralized marketplaces such as Walmart.com and Amazon, and peer-to-peer selling apps. These new marketplace presences are part of our broader plan to modernize the eyewear industry, and bring our next-gen frames to cutting-edge retail experiences.”