Warby Parker Presentation (June 2020) - Rishi Barad

1. Warby Parker
By: Rishi Barad (rishib)

2. —Dave Gilboa and Neil Blumenthal
“We wanted to make shopping for glasses
easy, affordable, and fun, and to get
glasses to those in need through our Buy a
Pair, Give a Pair program”
MISSION

3. Glasses
$35
You can explain your
product or your service
Characteristic
Characteristic
$60
You can explain your
product or your service
Characteristic
Characteristic
$85
You can explain your
product or your service
Characteristic
Characteristic
Sunglasses Contacts
Products

4. eCommerce
2010:
- Leader in DTC
- Affordable Designer Eyewear

5. Affordable Eyewear
Acetate Frames Metal Frames

6. Home Try-On
- Try Before You Buy
- Free!

7. Positive Impact
Buy a Pair, Give a Pair

8. Retail Shops
(2013)

9. Virtual Try-On
+
Rx Check
(2018)

10. Persona
- Young adult
- Wears glasses and contacts
- FSA card for health spending

11. $1,750,000,000
Private Company
Profitable!
Financials

12. Growth

13. Founding Fathers:
- Wharton Grad Students
- Dave Gilboa and Neil Blumenthal (CEOs)
- Andrew Hunt and Jeffrey Raider
- Semi-Finalist at a Business Conference
- Consumers loved the idea
- Investors doubted eCommerce
Leadership

14. One-Stop Shop
● Glasses
● Contacts
● Eye Exams
Secret Sauce

15. What’s Hot
Glasses:
- Starting at $95
- Replaced after ~2 years
Contacts:
- $110 for 3-month supply
- $440 per year

16. THE
COMPETITION
...and so many more

17. The Industry

18. Squished??
possibly...

19. ● WP is direct-to-consumer with no
pressure points for Luxottica to
exploit
Success!
Prediction

21. Sources
Impact Report: https://www.warbyparker.com/assets/img/impact-report/Impact-Report-2018-update-d.pdf
https://www.cnbc.com/warby-parkers-dave-gilboa-and-neil-blumenthal-a-vision-for-business/
Covid: https://www.cnbc.com/video/2020/05/26/warby-parker-co-ceos-on-safely-reopening-stores-amid-covid-19.html
Retail Reopening: https://www.warbyparker.com/process/covid-19-response
https://trends.google.com/trends/explore?date=2017-01-01%202017-12-31&geo=US&q=warby%20parker
https://snacks.robinhood.com/newsletters/3eheeb72Xt9au26bDm7pnA/
https://www.retaildive.com/news/warby-parker-raises-75m-reaches-profitability/519209/
https://www.warbyparker.com/prescription-check-app
http://www.luxottica.com/en/retail-brands/eyemed-vision-care
https://www.bupipedream.com/opinions/108736/the-monopoly-on-eyeglasses-needs-to-end/
https://www.growthmarketingpro.com/warby-parker-grow-1-2-billion-ecommerce-company-5-years/
https://www.euromonitor.com/eyewear-in-the-us/report
https://www.businessinsider.com/solar-eclipse-2017-free-warby-parker-eclipse-glasses-2017-8
https://www.warbyparker.com/history
https://www.statista.com/statistics/302925/value-of-the-us-vision-market/
https://mackinstitute.wharton.upenn.edu/2013/warby-parker-the-success-of-disruptive-innovation/
https://www.nytimes.com/2018/11/02/business/jeff-raider-warby-parker-harrys-corner-office.html
https://www.reuters.com/article/us-essilorluxottica-results/essilorluxottica-sets-sights-on-retail-dominance-with-8-billion-grandvi
sion-deal-idUSKCN1UQ0JW