Analysis of company and strategic recommendation for the future of the business. Collaborative project. Responsible for analysis/research, idea generation, strategy development, content and presentation.

1. WARBY PARKER
Liz . Olympia . Vishali

2. COMPANY HISTORY
2008
2003 - 2008
Launch
Feb 2010
$2500
Seed Investment
MBA
Buy 1, Give 1
Model
Corporate name: JAND Inc. Kerouac
characters Warby Parker =
Warby Pepper + Zagg Parker
Virtual and home try on program
100 employees in 2011, almost 400 by 2014
By 2014, 1 million had been distributed,
in 2016, that number is now 2 million.
After selling 20,000 pairs in their first 3 weeks, In April
2013 opened their first store in New York City’s SoHo
“Designer eyewear at a revolutionary price, leading
the way for socially conscious businesses “
Certified B Corporation since May 2011 (112 / 200)
In May 2011, Warby Parker raised its first round of
funding totaling $2.5 million, followed by $12.5 million in
September 2011, $37 million in Fall 2012 and finally $4
million in Feb 2013.

3. CURRENTBUSINESSMODELCANVAS KEY PARTNERS CUSTOMER
SEGMENTS
VALUE
PROPOSITION
KEY ACTIVITIES
KEY RESOURCES CHANNELS
COST STRUCTURE REVENUE STREAMS
- Manufacturing in
China
- Italian family owned
company
- VisionSpring
- Celebrity designers
- Nordstrom - pop up
shop
- B corp
- Men
- Women
- High-End design seekers
- Low price seekers
- Fashion conscious
- Customers seeking
Prescription eye wear.
→ High - end design
→ Boutique Quality
→ 5 days trial for 5
different frames.
→Free Shipping and 30
days Return Policy
→EyeWear at a
revolutionary price point
- Inhouse Design
- Cutting & Assembly
- Online Platform
- In-Store Experience
- Distribution
- Buy 1 give 1 model
- Marketing
- Social Media - Fashion
Blogs, Facebook,
Instagram, etc
- Offline store fronts
- VisionSpring
- Word of mouth
- Social Events
CUSTOMER
RELATIONSHIPS
- Online Sales
- Store front sales
- Design
- Platform (Software and
Maintenance)
- Distribution
- Designers
- Software & Platform
Developers
- Direct
- Loyalty
- Brand Advocacy (85+
NPS)
- Salaries
- Marketing
- R&D
- ECommerce
- VisionSpring Sourcing

4. CURRENTFINANCIALSTATEMENTS
WARBY PARKER:
VALUATION 2015
1.2 billion
ESTIMATED REVENUE
2013: $35 million
2015: $100 million
TRUE VALUE:
It won’t be known until its growth
stabilizes
EV/SALES RATIO:
12 (based on 2015 valuation)
**compares total value of the
company to its sales
PREDICTION:
if they can grow their revenue by 50%
every year for the next 10 years, it
could theoretically generate $5.8
billion in revenue by the 10th year
Net Sales: $434.8 100%
Cost of Sales: ($178.9) 41%
Gross Profit: $255.8 59%
S/M expenses: ($199.5) 46%
O/A expenses: ($32) 7.4%
Income/Expenses $3.8 .9%
Operating Income: $28 6.5%
Total Income+Cost: $(20.6) (4.7%)
Profit before tax: $7.6 1.7%
Income tax: ($10.1) (2.3%)
Net Loss: ($2.5) (.6%)
Net Sales: $100
Cost of Sales ≈ $41
Gross Profit ≈ $59
S/M expenses: ($46) 46%
O/A expenses: ($7.4) 7.4%
Income/Expenses $.9 .9%
Operating Income: $6.5 6.5%
Total Income+Cost: ($4.7) (4.7%)
Profit before tax: $1.7 1.7%
Income tax: ($2.3) (2.3%)
Net Loss: ($.6) (.6%)
Marcolin (millions) Warby (millions)

5. CURRENT ADMIRABLE LEADER
NEIL BLUMENTHAL
“People can copy your model but they can’t necessarily copy your brand. A brand
is a point of view and a world you create.”
Knew from an early age
that - entrepreneurship
was his destiny
“Sometimes you don’t need the newest technology to create the best customer
experience”
After college, craved
the satisfaction of a
direct impact on the
world.
Five-year stint as Director of VisionSpring, a non-
profit social enterprise that trains impoverished
men and women on how to perform eye exams and
sell affordable eyeglasses.
was named a Fellow
for Emerging
Leaders in Public
Service at NYU
Responsible for the
‘buy one, give one’
business model at
Warby Parker.

6. CUSTOMER FEEDBACK RESEARCH
“Frankly, I think I'll only be buying glasses from these guys
from now on”
“Guess who just made my day ..
Warby Parker!” #VIPStatus
Customer focused culture
- Treat customers the way we’d like to be treated
- Create an environment where employees can
think big, have fun and do good
- Get out there
- Green is good
59.2K
82.5K
290K
Followers
“They have a
customer for life!”
“My glasses came two weeks, 3 phone calls and
an email after I placed my order in the store!”
5 out of 100 are dissatisfied with Warby Parker
23 out of 100 are returning customers of Warby Parker
“How likely are you to recommend this company to a friend?”
NPS 85+
“They delivered my glasses 3000 miles away
and then charged me for not returning them!”

7. CURRENT CHALLENGES
Frames Revenue (EUR Millions)
NOT ENOUGH MARKET SHARE
- Small Target Market
- Limitations size and types of lenses
- No options for elders and kids
COMPETITORS
- Luxottica (60% -80%)
- Marcolin, Coastal, Zenni Opticals, Made
Eyewear (price and personalization advantage)
- Local emerging competitors
(China, Japan) - Jins
NOT PROFITABLE
- Limited prescription options
- Numerous storefronts; large expense :
- 8 in California, 7 in NY (47 in US,
2 in Canada)
- Company has become stagnant.
CUSTOMER EXPERIENCE
- One size does not fit all
- Virtual try on does not provide a true fit
- Delayed deliveries
MANUFACTURING
- Don’t own their own manufacturing facility

8. STRATEGIC RECOMMENDATIONS - PIVOT
INCREASE MARKET SHARE MAKE PROFITABLE FIX CUSTOMER COMPLAINTS
Subscription based upgrade program
- Upgrade your eyewear every one
Year (re-cycle the old pair)
- Target Audience - College students
Eye Exam via Mobile App
- eliminates the need for separate
prescription eye exams.
Bifocal/Trifocal lenses
- stable target market
- Target Audience - Baby boomers
Instaframes
- camera-enabled eyewear to record
videos and upload to instagram later.
- Target Audience - Young People
Stop opening Brick & mortar + it’s
expensive and time consuming.
Improve home try on with ready to go
solutions ( 3 Prescription try on eyewear)
Invest in own production (manufacturing
company) will help with further
customization for better user experience
and reduce overall cost of production
Improve speed of delivery with ready
to wear prescription
Improve the online virtual try on
Virtual customer service (automated
customer care dialogue box) for online
queries and purchases.
FURTHER INNOVATION
‘A way to see’ program in partnership with eSight
Developing VR tech for returning sight to the near blind allowing them to go about
their daily lives independently.
In addition to the “buy 1 get 1 model” via VisionSpring

9. STRATEGIC RECOMMENDATIONS - PIVOT
INCREASE MARKET SHARE MAKE PROFITABLE FIX CUSTOMER COMPLAINTS
Subscription based upgrade program
- Upgrade your eyewear every one
Year (re-cycle the old pair)
- Target Audience - College students
Eye Exam via Mobile App
- eliminates the need for separate
prescription eye exams.
Bifocal/Trifocal lenses
- stable target market
- Target Audience - Baby boomers
Instaframes
- camera-enabled eyewear to record
videos and upload to instagram later.
- Target Audience - Young People
Stop opening Brick & mortar + it’s
expensive and time consuming.
Improve home try on with ready to go
solutions ( 3 Prescription try on eyewear)
Invest in own production (manufacturing
company) will help with further
customization for better user experience
and reduce overall cost of production
Improve speed of delivery with ready
to wear prescription
Improve the online virtual try on
Virtual customer service (automated
customer care dialogue box) for online
queries and purchases.
FURTHER INNOVATION
‘A way to see’ program in partnership with eSight
Developing VR tech for returning sight to the near blind allowing them to go about
their daily lives independently.
In addition to the “buy 1 get 1 model” via VisionSpring
p
MAKE IT SUSTAINABLE
100% Carbon Neutral Material
Limit the number of Brick and Mortars
Upgrade Program
Recycle the old pair
Less material waste
Use of more Plant-based and Recycled Material for
products and packaging
Better In-home try on (ready to go) & online customer care
and service.(elimination of showroom requirement)
Use showroom space as an Innovation lab
In-house App based eye exam
‘Buy 1 Get 1’ model - VR headset
(‘a way to see’ program)
CIRCULAR
ECONOMY
1 year warranty
Own Manufacturing Unit
(Customization and Personalisation)
Generate more employment via
VisionSpring(‘a way to see’ program)

10. NEWBUSINESSMODELCANVAS KEY PARTNERS CUSTOMER
SEGMENTS
VALUE
PROPOSITION
KEY ACTIVITIES
KEY RESOURCES CHANNELS
COST STRUCTURE REVENUE STREAMS
- Italian family owned
company
- Non-profit
VisionSpring
- Celebrity designers
- Instagram
- eSight
- Existing Customers
- New prescription
customers
- Older generations
- Millennials and younger
generations (Instagram
stories users)
- Visually Impaired people
→ Variable sizes
→ Ready to go
→ Long term customer
retention (Subscription)
→ Instaframes
→ Eliminating eye exams
via mobile phone
application
→ VR to restore sight to
the blind, ‘A way to see’
program
- Manufacturing
- Inhouse Design
- Online Platform
- In-Store Experience
- Distribution
- Buy 1 give 1 model
- Marketing
- News publications and
Outlets
- Instagram
- TV Shows and
commercials
- Social Events
- VisionSpring
- Instore
CUSTOMER
RELATIONSHIPS
- Online Sales
- Store front sales
- App eye exams
- Instaframes
- Design
- Platform (Software and
Maintenance)
- Distribution
- Manufacturing
- Designers
- VR developers
- Software Engineers
- Platform Developers
- Direct
- Loyalty
- Professional
- Brand Advocacy (85+
NPS)
- Salaries
- Marketing
- R&D
- ECommerce
- VisionSpring Sourcing
- Upgrade program
- Bifocals/trifocals
prescription

11. BUSINESSMODELCANVAS-LONGTERM KEY PARTNERS CUSTOMER
SEGMENTS
VALUE
PROPOSITION
KEY ACTIVITIES
KEY RESOURCES CHANNELS
COST STRUCTURE REVENUE STREAMS
- Italian family owned
company
- Non-profit
VisionSpring
- Celebrity designers
- Instagram
- eSight
- Virtual Reality
developers
- New prescription
customers
- Older generations
- Visually Impaired people
- R & D
- Manufacturing
- Inhouse Design
- Online Platform
- In-Store Experience
- Distribution
- Buy 1 give 1 model
- Marketing
- News publications and
Outlets
- TV Shows and
commercials
- Social Events
- VisionSpring
- Instore
CUSTOMER
RELATIONSHIPS
- Online Sales
- Store front sales
- App eye exams
- Design
- Platform (Software and
Maintenance)
- Distribution
- Manufacturing
- Designers
- VR developers
- Researchers
- Software Engineers
- Platform Developers
- Direct
- Loyalty
- Professional
- Brand Advocacy (85+
NPS)
- Salaries
- Marketing
- R&D
- ECommerce
- VisionSpring Sourcing
- Upgrade program
- Bifocals/trifocals
prescription
→ Eliminating eye exams
via mobile phone
application
→ VR to restore sight to
the blind, ‘A way to see’
program