Innovative Eyewear Inc. (NASDAQ:LUCY), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, confirms its tariff rate on smart eyewear and highlights its competitive edge vs. traditional eyewear.
Smart eyewear products that enter the United States from China currently have a total effective duty of approximately 27.5%. This stands in sharp contrast to recent trade measures that have increased the combined duty on many conventional eyewear lines imported from China to approximately 155%, underscoring a landed‑cost advantage for smart eyewear, including those made by Innovative Eyewear.1
"We believe the current tariff situation is bringing smart eyewear to price parity with traditional designer eyewear, thereby facilitating the upgrade to smart eyewear," said Harrison Gross, CEO of Innovative Eyewear. "As tariffs place excessive pressure on traditional eyewear arriving from China, which makes approximately 90% of the world's eyewear2, the recent tariff exemption on Chinese electronics puts US smart eyewear companies in a strategic position. We expect that as price increases as a result of tariffs and the de minimis exemption goes into effect, U.S. eyewear customers will be able to select smart eyewear options for the same price as traditional eyewear."