Interview: CEO Harrison Gross Discusses The Future With Benzinga
We’ve spoken with Benzinga a couple of times in 2022, giving them the opportunity to break the news of our Nautica Eyewear Collab, the LUCY Ticker NASDAQ IPO and so many more parts of our key company journey.
This time we caught up with Benzinga to talk about; the future landscape for smart glasses, what the wearables market will look like in 2023 and beyond, as well as bringing light to how resilient the eyewear and eyeglasses market is in difficult economic times.
Some of the key takeaways from the interview have been shared below.
Main Interview Takeaways
There is a lot to unpack from Harrison Gross’s interview with Benzinga, we’re going to take you through the real top-line here.
#1 Wearables will be the mobile phones of the future
Within the next 20 years we may see wearables become as commonplace with consumers as the mobile phone is today. Mobile phones could be seen as a transitional technology, which in time is replaced by wearables due to the ergonomic benefits in using wearables such as bluetooth glasses.
#2 We’re disruptive because of our design, technology and price
One of the core reasons why products like Google Glasses didn’t force the mass adoption of smart glasses was because the value proposition didn’t make sense to the consumer. For mass adoption of smart eyewear, the price needs to be competitive, the look and feel of smart glasses needs to be that of conventional eyewear and the product must be backed with enough and good enough technology to be ‘worth’ the change’ from normal glasses. We believe that Lucyd glasses offer this combination, and that is why we are disrupting the space.
#3 The 2nd crowdfund was toned down to support our IPO
Our 2022 crowdfund ended early because of our plans to IPO on the NASDAQ. The circa 50,000 shares that were issued in the crowdfund. There are currently approximately 2,390,000 on public float; so the crowdfund isn’t expected to impact the LUCY market ticker in any way, which is currently trading at $0.751 at the time of writing.
* stock price accurate as on 22nd December 2022
#4 We believe eyewear is a recession proof good, and we are an eyewear business first
If the macroeconomics take the US economy into a recession in 2023 there will no doubt be some wearables and technology businesses that could struggle from weakened consumer appetite and general investor pressure. This is one of the many reasons why Lucyd is an eyewear first business. We believe eyewear is recession proof, people will always need to see. So, providing our consumer value proposition remains strong, we believe we are perfectly placed to weather any macroeconomic storm that may come.
#5 Smart Eyewear will supplant Smart Watches in the not too distant future
The market size for smart eyewear and smart watches aren’t too dissimilar at the moment, however with almost two thirds of the population needing eyewear in some format the mass adoption for eyewear is likely to be stronger than smart watches in the future. As we observe more screen time in our day-to-day lives people are becoming more myopic and at earlier ages than ever in history, so we believe that smart eyewear adoption is where investors should be looking to explore further.
Check out the YouTube Interview in full here