Company: WRBY
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001504776-25-000010
Chunk: 44

Company: Warby Parker Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 44
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 and trends as well as to anticipate and react to changing consumer tastes and demands in a timely manner. The success of new or enhanced products and services depends on several factors, including their timely introduction and completion, sufficient demand, and cost-effectiveness. 

Our number of customers may decline materially or fluctuate as a result of many factors, including, among other things:

•the quality, consumer appeal, price, and reliability of products and services offered by us;

•intense competition in the optical retail industry; 

•negative publicity related to our brand; 

•the success of our marketing and advertising efforts;

•unpredictable nature of the impact of a pandemic, an outbreak of disease or similar public health crisis;

•deteriorating macroeconomic conditions and reduced customer spending; 

•changes in availability of our historic or current customer acquisition methods; or

•dissatisfaction with changes we make to our products and services. 

In addition, if we are unable to provide high-quality support to customers or help resolve issues in a timely and acceptable manner, our ability to attract and retain customers could be adversely affected. If our number of customers declines or fluctuates for any of these reasons among others, our business would suffer.

20

The optical industry is highly competitive, and if we do not compete successfully, our business may be adversely impacted.

Although we offer a differentiated distribution and service business model, we continue to compete directly with large, integrated optical players that have multiple brands and retail banners, such as EssilorLuxottica SA and VSP Vision Care. This competition takes place both in physical retail locations as well as online, for both glasses and contact lenses. In addition to glasses, we sell both our own private label Scout by Warby Parker contact lenses that we contract manufacture as well as many leading third-party contact lens brands. We also compete with independent ophthalmologists, optometrists, and opticians located in our markets as they often provide many goods and services similar to those that we provide. To compete effectively, we must continue to create, invest in, or acquire advanced technology, incorporate this technology into our products and services, obtain regulatory approvals in a timely manner where required, and process and successfully market our products.

Many of our competitors have greater financial and operational resources, longer operating histories, greater brand recognition, and broader geographic presence than we do. As a result, they may be able to engage in extensive and prolonged price promotions or otherwise offer more competitive prices, which may adversely affect our business. They may also be able