Company: WRBY
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001504776-25-000010
Chunk: 158

Company: Warby Parker Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 158
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9

•Expanding Our Holistic Vision Care Offering. We plan to continue to build upon our existing products, while selectively introducing new offerings that aim to surprise and delight both new and existing customers. This includes strengthening our offering and position within:

•Glasses. We release nearly 20 new eyewear collections each year; we will continue to scale our core glasses offering by introducing new sizes, shapes, widths, lens offerings, and more to ensure as many people as possible can find a frame that fits, functions, and looks great. 

•Contact Lenses. The contact lens market is estimated at $11.8 billion as of December 31, 2024 and contributed only 10.2% to Warby Parker net revenue for the year ended December 31, 2024.

•Eye Exams and Vision Care. The eye exams and vision care market is estimated at $10.7 billion as of December 31, 2024 and contributed only 5.3% to Warby Parker net revenue for the year ended December 31, 2024.

•Vision Insurance. Vision insurance is used on over 50% of purchases made in the vision care market as of December 31, 2024 and contributed approximately 7% to Warby Parker net revenue for the year ended December 31, 2024.

For each of these opportunities, we have established businesses that are growing rapidly and can scale over time.

•Evaluating Potential Expansion into New International Markets. With over 4 billion people globally in need of vision correction, we recognize there is a significant opportunity to introduce customers across the globe to our brand. Expanding internationally would significantly increase our total addressable market. As we grow, we will continue our strategy of evaluating opportunities to open distinctive retail stores in select locations and providing our customers with an engaging online experience.

Our Seamless Experience

We offer our customers a seamless customer experience—whether shopping in-person or online—that’s unparalleled within the market. 

E-commerce & Mobile App

Shopping online at Warby Parker is just as seamless an experience as visiting us in person. Our website and mobile app make quick perusing a cinch. Customers can even try on glasses virtually using our proprietary Virtual Try-On tool, or explore our AI-powered online quiz that helps customers find frames based on style, color, and shape preferences, which is ideal for when there’s not a retail store nearby or if you’d prefer to stay home. Plus, our Customer Experience advisors and Social Media team are on standby