Warby Parker Case Study
Warby Parker is a prescription eyewear company based in the United States. Founded in 2010, it prides itself on offering affordable, designer eyeglasses while giving back to people in need.
Warby Parker was started by Neil Blumenthal, David Gilboa, Andrew Hunt and Jeffery Raider. The four met in 2008 while attending the Wharton School of Business at University of Pennsylvania. When one of them lost a pair of glasses on a backpacking trip and could not afford to replace them, the four realized the problem with the eyewear industry. It was impossible to find a pair of cheap glasses without sacrificing appearance.
They soon realized the reason behind this problem. The eyewear industry was controlled by a few companies. This allowed them to charge high prices for their glasses. In order
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One of them was the challenge of obtaining a loan to help the company expand. Despite the roadblocks, Warby Parker continued to rise. The founders achieved success by understanding their purpose and creating a work environment that encouraged creativity and open discussion. Near the end of 2011, Warby Parker shipped over 100,000 glasses and had 60 workers. In just one year, the company expanded to more than 113 employees.
Even with the sudden success, Warby Parker maintained its goal of giving back to the community by first starting the Buy a Pair, Give a Pair program. This initiative works by customers buying a pair of Warby Parker glasses. Warby Parker then donates to its nonprofit partners based on the total glasses sold each month. These partners then train people on how to give eye exams and sell glasses in areas of need at an affordable price. This creates jobs in these area and is highly sustainable.
Today, Warby Parker is valued at $1.2 billion. With more stores opening across the country and continuing to focus on its original mission, Warby Parker became a model of success for
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