How Warby Parker disrupted the eyewear industry?

Story goes back in 2008, Warby Parker was started by Dave Gilboa & Neil Blumenthal.

• Once, Dave forgot his sunglasses on an airplane. Back then, Sunglasses costed $700.

• Ironically, #iPhone sold back then for $200.

They wondered why sunglasses cost a bomb?

• Majority of eyewear market was dominated by ONE player: Luxottica

• Luxottica housed #brands like Ray-Ban, Oakley, Oliver Peoples.

• They licensed fashion brands like Ralph Lauren, CHANEL, Prada Group, Dolce & Gabbana.

• Even own major #retail chains like LensCrafters, Pearle Vision, Sunglass Hut & many more.

• Need insurance for sunglasses? Enter: EyeMed Vision Care

That’s right, Luxottica owns them too!

• They controlled entire #supplychain
Result: Sunglasses costed 20x more.

Manufacturing, distribution & even insurance.

Market Cap: ~$30 Billion

• Seeing a huge opportunity, Dave & Neil started their own Eyewear Brand: Warby Parker.

They started selling #online.
Result: Their prices were less than $100.

Adam Grant “In 2009, I declined to invest in them. Worst financial decision.”

In 2018, valued at ~$1.75 Billion & are rapidly expanding.

They declared profitability in 2018 & are on road to a successful #IPO very soon!

By: Dehit