A Retail Pioneer Evolves with the Times
When Warby Parker first launched, buying glasses online was new and, for most, untested. As co-founder and co-CEO, Neil Blumenthal recalls, the company entered a market when “less than 1 percent of eyeglasses were sold online.” To bridge anxieties around fit and style, Warby Parker pioneered the “first-of-its-kind” at-home try-on program, shipping five glasses for five days directly to customers’ homes.
Yet, as the digital landscape matured and Warby Parker’s brand presence grew, the role of the home try-on program began to shift. According to company executives, the vast majority of recent program users now live within 30 minutes of one of Warby Parker’s 300 stores. In a world of omnichannel retail, convenience now often means walking into a store where customers can see, touch, and try on hundreds of styles in person.
Investing in In-Person and Digital Innovation
Warby Parker isn’t just expanding its physical footprint; it’s doubling down. In its most recent quarter, the retailer opened 11 net new stores, celebrating its 300th location last month, and plans to open 45 new stores in 2025, including five shop-in-shops within Target stores. This expansion reflects a broader strategy: meeting customers where they are, whether that’s around the corner or online.
The eye exam business, now available at many locations, represents a major area of growth. In Q2, eye exams grew, accounting for 6% of total revenue. This expanded service highlights how Warby Parker is deepening its roots as both a retailer and healthcare provider, offering a seamless experience from eye care through to frame selection.
Digital innovation is also in focus, with tools like virtual try-on enabling customers to see how frames look using just their smartphone or computer. As shoppers increasingly merge online research with in-store visits, Warby Parker aims to blend the best of both worlds.
Financial Highlights: Growth in Revenue and Customers
The changes come alongside a strong financial performance. In the second quarter, net revenue rose 14% year over year to $214.5 million, while net loss improved 74%. This net loss included $3.8 million of one-time costs related to the closing of the home try-on operation and restructuring, including $2.5 million in inventory write-downs.
Notably, Warby Parker’s active customer base increased by 9% to 2.6 million, and average revenue per customer grew 4.6% to $316. The company also raised its full-year revenue outlook, now expecting between $880 million and $888 million, up from prior guidance and representing 14% to 15% growth.
Leadership Transition: A New Chapter
The strategic transition comes with a change in the executive suite. Steve Miller, the company’s CFO for 14 years, will step down effective October 1. Until a successor is named, co-founder and co-CEO Dave Gilboa will assume the principal financial officer and accounting roles. This leadership transition aligns with Warby Parker’s commitment to evolving and strengthening its core business for the future.
A New Standard for Eyewear Retail
Warby Parker sunsets its home try-on program with the recognition that customer needs have changed and the brand must change with them. With most shoppers living within a half-hour of a Warby Parker location, and virtual tools providing robust support for online buyers, the company’s twin focus on physical stores and digital innovation points toward a new standard in eyewear retail.
What began as a novel way to try on glasses “for many years, and especially during the pandemic,” now gives way to an experience shaped by convenience, technology, and personal touch.
As Warby Parker continues to expand its footprint and digital services, its founding spirit of making stylish, affordable eyewear accessible remains stronger than ever.
