“It’s great to start a business in business school,” says one of Warby Parker‘s founders, and a Wharton grad. “We had 820 classmates who were our target consumer category, who came from all over the world.”
With 50,000 pairs of sunglasses sold, 40 employees, and $1.5 million raised, Warby Parker can be considered a bona fide success after 17 months.
Last week, Businessweek profiled the hipster eyewear company borne out of Wharton, and explains why they can do what they do – sell hip, cheap glasses – because the eyewear industry is an oligopoly of manufacturers that take advantage of information asymmetries about how much it costs to manufacture and sell a pair of glasses.
Read the Businessweek article that talks more about the four guys who started the company, and why imitators have started popping up.