One company that’s benefitted from and also contributed to the glasses craze is Warby Parker, which is getting another $75 million, led by T. Rowe Price, to grow its business. The news was first reported by Cheddar.
The company also announced that it’s now profitable.
So what makes Warby Parker special? It has cute styles at relatively affordable prices, usually $95. I personally own a half dozen pairs of its glasses and sunglasses.
Warby Parker, which does most of its sales online, has a try-it-before-you-buy-it approach, allowing customers to select a few pairs to try on at home and then send the rest back.
They also have been building out its brick-and-mortar business, expanding to 65 retail locations throughout the United States. Customers are also able to test their prescriptions in stores.
The company is expected to IPO someday, but the latest funding implies that it’s not going to go public anytime soon. We’re hearing that Warby Parker is doing well, but is not in a rush.
Source: New feed