Innovative eyeglass retailer Warby Parker, popular for its direct-to-consumer model, competitive prices and modern designs, is eyeing the $5 billion contact lens market.
The New York-based company launched Scout, its own brand of breathable and affordable contact lenses, which will be available in stores and online, the co-CEO Neil Blumenthal told FOX Business’ Maria Bartiromo.
“This is something that we've been thinking about it for a while,” Blumenthal said Friday. “We found that over 40 percent of our customers wear contact lenses. So we spent the last 18 months researching the market and trying to find one of the best lenses available to provide to our customer.”
Warby is also making a big push into vision testing and eye exams, he said. Eye exams in the U.S. are a $6 billion-plus market in the U.S.
“We're now entering a market that's over $11 billion in the U.S.” he said. “So we're really excited.”
Scout lenses cost $110 for a three month supply.