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Consumer Products, News

Wharton venture Warby Parker sells 50,000 pairs of hip, cheap eyewear. Imitators abound.

“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.

Check out Warby Parker’s website and their social impact partnership with VisionSpring.



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