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Warby Parker, once online-only eyeglasses retailer, plans hundreds of more stores

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Summary

In this article, CNBC looks at Warby Parker, a company that disrupted the eyeglass industry by selling directly to consumers at a fraction of the price of its competitors. Founded in 2010, Warby Parker has since expanded its business to include contact lenses, vision exams, and almost 200 physical stores. The company is looking to open hundreds more stores in the next few years, but also sees a future tied to telemedicine. Warby Parker's direct-to-consumer business model was among the first of its kind, and the company has since become an archetype for online retailers. However, Warby Parker shares have fallen more than 60% year-to-date, caught up in the crash of many recent high-growth startups that went public last year.

Q&As

What was Warby Parker's original business model?
Warby Parker's original business model was to sell eyeglasses direct to consumers online, skipping the wholesale market, for a fraction of the price.

How did Warby Parker's business change when it expanded beyond the internet?
When Warby Parker expanded beyond the internet, it opened a bricks-and-mortar location and began offering in-store eye exams and prescriptions.

What is Warby Parker's focus today?
Warby Parker's focus today is to become a "holistic vision care company."

How has Warby Parker's stock performed since its debut on the stock market?
Warby Parker's stock has fallen more than 60% year to date.

What is Warby Parker's future plans?
Warby Parker's future plans include expanding its telemedicine offerings and opening hundreds of new stores.

AI Comments

👍 This is a great article on Warby Parker's expansion plans. I love that they are looking to open more stores and that they are focusing on telemedicine. This is a great way to get more people into their store and to get more people interested in their products.

👎 I think Warby Parker is making a mistake by expanding their store footprint. They are a online-only retailer and I think that is their strength. Expanding into brick and mortar stores will just increase their overhead and decrease their profits.

AI Discussion

Me: Warby Parker is expanding its brick and mortar locations.

Friend: That's interesting. I didn't know they had any physical locations.

Me: Yeah, they started out as an online-only retailer, but they've been expanding into physical stores in recent years.

Friend: That makes sense. I feel like a lot of online retailers are doing that these days.

Me: Yeah, I think it gives customers the option to try on products in person, which can be helpful.

Friend: Yeah, that's definitely true. I know I've made purchases online before, only to return them later because they didn't look quite right in person.

Me: Exactly. So I think it's a smart move for them. They're planning to open hundreds of new stores in the next few years.

Friend: That's a lot of stores! They must be doing well.

Me: Yeah, I think so. I know their stock took a bit of a hit recently, but I think they're still doing well overall.

Action items

Consider investing in Warby Parker.
Look into other companies that use a direct-to-consumer business model.
Use Warby Parker's virtual try-on tool to find your perfect pair of glasses.

Technical terms

Direct-to-consumer: A business model in which a company sells products or services directly to consumers, bypassing intermediaries such as retailers or wholesalers.
Bricks-and-mortar: A physical store or business, as opposed to one that exists solely online.
Telemedicine: The use of telecommunications and information technology to provide medical care from a distance.
IPO: Initial public offering, a type of public offering in which shares of a company are sold to investors.
Disruptor 50: CNBC's annual list of the top 50 private companies in the world that are "disrupting" their industries.