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 difficult 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 3,000 employees.
We admire that Warby Parker was the pioneer in the revolution of disrupting Luxottica’s stronghold on the glasses industry.
As an innovative glasses company, Peeq has worked tirelessly to research and develop reversible eyewear.
Instead of licensing other brands and marking them up for profit -like the conglomerates do - Peeq has developed proprietary innovation to revolutionizd sunglasses with genuine utility.
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