Company: WRBY
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001504776-25-000010
Chunk: 154

Company: Warby Parker Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 154
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unched in 2019, Scout by Warby Parker contact lenses are a convenient and affordable daily contact option made from a super-moist material that resists drying for lasting hydration and comfort. For an added touch of convenience, each Scout lens comes in an innovative, space-saving flat pack that’s easier to transport and store than a traditional contact blister pack, and uses almost 80% less packaging than traditional daily contact packs.

Eye Exams and Vision Tests

We offer multiple ways for customers to get prescriptions and keep their vision in tip-top shape. From friendly and knowledgeable in-person exams at 236 of our retail stores as of December 31, 2024 to innovative telehealth services like our Virtual Vision Test app, we provide access to convenient and accessible vision services for primary vision care needs through optometrists employed either by us or by independent professional corporations or similar entities with whom we have contractual arrangements. Throughout their shopping experience, our patients’ health and happiness is our top priority. 

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Table of Contents

The Eyewear Market is Large, Growing, and Ripe for Disruption

Large and Growing Market

The U.S. eyewear market is large and growing. The Vision Council defines the U.S. eyewear market as an approximately $68 billion industry as of December 2024, up from $66 billion in 2023, that has exhibited consistent, stable growth across multiple economic cycles, and estimates the U.S. prescription eyeglasses and sunglasses market to be approximately $25 billion, up from $24 billion in the prior year. Independent optical retailers made up approximately 50% of all prescription optical retail sales in 2024, while optical retail chains made up the majority of the remainder. Globally, the eyewear market was approximately $150 billion in 2024, according to Statista, inclusive of optical retailers’ revenue from the sales of products (including glasses, sunglasses, and contact lenses).

The eyewear industry is resilient to economic cycles given its medical and non-discretionary nature and is defined by durable fundamentals and trends including:

•Most people need vision correction: The Vision Council reported that approximately 80% of adults in the United States use some form of vision correction, equating to approximately 214 million people. In addition, the number of Americans ages 65 and older is expected to increase by more than 25% over the next 20 years, reaching 80 million people in 2045, according to the U.S. Census Bureau. It is estimated that at least