Warby Parker's Beginnings
Warby Parker was founded in February 2010 by four friends at The Wharton School in Philadelphia. Their strategy is focused on boutique-quality eyewear with all glasses retailing for $95 through their website and showrooms. Competitors can charge hundreds for a pair of glasses.
And for every pair of glasses Warby Parker sells, it distributes another pair to a person in need through a collaboration with non-profit VisionSpring. (Read more: Warby Parker's Vision for Growth)
Warby Parker and Costco are among the few competitors in a sector dominated by Italian giant Luxottica — a dominance that was featured in a recent "60 Minutes" report.
"The industry is controlled by a few large companies that have kept prices artificially high, reaping huge profits from consumers who have no other options," according to Warby Parker's website.
The unique company name Warby Parker is based on two characters from author Jack Kerouac's journals — Zagg Parker and Warby Pepper. Based in New York City, the company employs about 100 people.
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