Tekcapital (GB:TEK) has released an update.
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Innovative Eyewear, a subsidiary of Tekcapital, has reported a remarkable 76% increase in net revenue for the first nine months of 2024, driven by successful new product launches and strategic pricing adjustments. The company introduced its Lucyd Lyte collection on Target.com and expanded internationally with a distribution deal in the Middle East, further boosting its position in the smart eyewear market. Lower production costs and upcoming product launches, including collaborations with brands like Reebok, are expected to enhance profitability.
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