Tekcapital PLC (LON:TEK) said its portfolio firm, Lucyd is to launch its range of Bluetooth-enabled glasses on the website of US superstore chain Walmart Inc (NYSE:WMT).
The investment firm said the expansion offered a “new opportunity” to reach Walmart’s customer base, which is estimated to make up about 6% of the entire US eCommerce sector.
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In a statement, Tekcapital said Lucyd is “aggressively expanding” its online direct-to-consumer presence, adding that the firm has also listed its flagship Loud 2020 glasses range on both the eBay marketplace and the Mercari selling app.
“The large audiences on these marketplaces will help Lucyd reach even more customers”, Tekcapital continued, adding that it expected all platforms that Lucyd has joined will experience an uptick in sales traffic due to increased reliance on online ordering during the coronavirus pandemic.
Lucyd has also joined several other marketplaces such as the OfferUp app, the Letgo app and the Instagram shopping portal that Tekcapital said will offer “a greater degree of customer engagement compared to the relatively unilateral experience on most channels, in addition to providing contactless delivery”.
"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”, Lucyd co-founder and chief executive Harrison Gross said in the statement.
“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", he added.
Shares in Tekcapital jumped 5.9% to 16.2p in early deals on Friday.
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