Case Study Of Warby Parker
1918 Words8 Pages
Warby Parker
Marketing plan summary
1. Background: Company mission, overview
The eyewear industry is controlled by a single monopoly company and prices of eyeglasses has been set abnormally high. So Warby Parker was founded in February 2010 to create an alternative choice.
Warby parker design, manufacture glasses themselves and provide trendy, higher quality prescription eyewear directly to customers at much lower price. They believe that buying glasses should be easy and fun. Also customers should be feeling happy with their good-looking. Warby Parker goal is:
“to offer designer eyewear at a revolutionary price, while leading the way for socially conscious businesses”
Warby Parker distributes a pair of prescription eyeglasses at 95$ mainly by online. However in last two years, Warby Parks opened five showrooms and eight stores in USA. An optometrist is available to provide eye exams, and opticians are available to help fit and adjust frames in store.Their venture capital around of $41.5 million, including funds from J. Crew and American Express. Now Warby Parker have over 60 employees. The sale revenue estimates over $1 million.
Warby Parker partners with non-profit organisation. Every pair of glasses sold, a pair is distributed to someone in need through VisionSpring. Users of VisionSpring eyeglasses experienced a 35% increase in productivity and a 20% increase in monthly income.
2. Situation assessment:
2.1. External Environment
In general, eyewear industry