Warby Parker cut out the middleman, lowering the price of glasses significantly
Co-founder Neil Blumenthal discusses meeting consumer needs, both in-store and online
Warby Parker is disrupting the eyewear industry by cutting out the middle man, according to Warby Parker co-founder Neil Blumenthal.
“Our big thesis was, if we could design the glasses that we love, manufacture them and then sell them direct to customers and cut out the middlemen, then we could bring down glasses from $700 to $95,” Blumenthal said on FOX Business’ “Maria Bartiromo’s Wall Street.” “And the internet enabled us to do that.”
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He also said the Warby Parker team originally thought the company would be solely online, but consumers’ love of the in-store experience led them to change their plans. The eyewear company was founded in 2010.
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“We didn't think that we were going to have any stores, let alone over 100,” he said. “There are big parts of the population that do enjoy continuing to go into stores.”
Blumenthal said in the early days of the company, people would call up and ask, “Can we come to your office to try on glasses?”
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“And we're like, we're working out of our apartment,” Blumenthal said.
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