Entrepreneur’s Journal #12 – How Warby Parker Designs Is Disrupting the Eyewear Industry
**This blog was written by the founder of DJ Connection Tulsa Wedding DJ Service, the U.S. Entrepreneur of the Year, the President / Founder of the Bridal Association, Author and Tulsa Motivational Speaker – Clay Clark
These guys are designing and producing designer vintage inspired glasses and contacts for $90 where as most designer frames cost $500. Whenever Warby Parker sells at pair of glasses, they then also donate eye ware to a person in need somewhere in the world. Before they got started in the industry, they basically discovered that were a few very large companies controlling the industry that were keeping prices artificially high. These companies then went out and bought up all of the name brand designer licenses for companies like Chanel, DKNY, Ralph Lauren and others so that they could design, market, distribute and sell eye ware at a huge markup. There was one major company that was really controlling nearly the entire industry. Luxottica had a nearly completely vertically integrated industry they were controlling. They owned manufacturing plants and facilities in Asia and Europe. Today when you buy those brands, you’re actually buying from this company that is just licensing those brand names. Those brand names have no role in the design or manufacturing of the eyewear. They are just leveraging their brand name by allowing Luxottica to develop and sell products with their logos on it.
Warby Designer believed that because these few big companies were marking the prices up on eye ware by 20 times, they would be able to compete on both quality and price while doing good in the world for their customers, and employees.
They wanted to offer customers exception value by giving them a a $500 product for $90.00. They wanted to help great people value throughout the world who can’t afford glasses by giving glasses away every time a product was sold. They believed that their biggest challenge was going to be educating customers about the truth of the eye ware industry. Customers had to be taught that eye ware should not cost $500 when it could be easily available at a much lower price point without sacrificing any quality.
They believed that if eyewear could be priced below $100 people would tend to think of it more like an accessory than a medical device. Basically in the U.S. today, most people buy a new pair of glasses every 2.5 years. They believed that if the prices were low enough and if the fashionable options were appealing enough people would begin to think about their eyewear like a pair of shoes or a purse. They believed that people would begin buying different types of glasses. They would have one pair for formal occasions and one pair for reading. They might have one pair for work and one pair that was designed to go with a more fashionable look. Today business is booming for this company as their dreams have begun to transform themselves into reality as a result of their hard work.
Warby Parker started as the collaboration between four close friends and today is a major player in the eyewear industry. It seeks to deliver great products to its customers, free eyewear to those in need and great jobs to those who are passionate about delivering value in their work place. For more information about their great products visit their website today at WarbyParker.com.