Before talking about Warby Parker, it is important to break down just how large Luxottica was and still is. Luxottica has had a monopoly on the sunglasses industry for the past few decades. They own companies such as Ray-Ban, Persol, Oakley, Prada, Giorgio Armani, Burberry, Chanel, Coach, DKNY, Michael Kors, Miu Miu, Polo Ralph Lauren, Tiffany, Tory Burch, Valentino, Versave, and Vogue. Furthermore, they own most of the retail stores that sell glasses such as LensCrafters, Sunglasses hut and many more. Hence, before the internet, it was very tough for a new company to compete with Luxottica.
However, with the increasing power of social media and the ease of buying and selling online in the early 2010s, Luxottica was more vulnerable than ever. Founded in 2010, Warby Parker was the first company to try to take market share from Luxottica. Using the power of the internet, they were able to quickly grow and eventually generate $540 million in yearly revenue and have over 3000 employees!
We believe that Warby Parker was the pioneer in the revolution of taking down Luxottica’s stronghold on the glasses industry. Lastly, like Warby Parker, we aim to take market share from Luxottica as we have revolutionized sunglasses using our reversible technology!
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