Warby Parker revenues increase, announces eyewear deal with Target

Warby Parker, the vision-focused lifestyle brand, reported a 15.2 percent increase in full-year net revenue, reaching 771.3 million dollars. Similarly, the fourth quarter saw a comparable growth trajectory, with net revenue climbing 17.8 percent to 190.6 million dollars.

Capitalising on this positive trend, the company has unveiled a strategic partnership with Target Corporation, planning to introduce designer-quality, affordable eyewear through five Warby Parker shop-in-shops within Target stores in 2025, with potential for further expansion. These shop-in-shops will be established in Target locations that currently lack optical services.

"We delivered on our ambitious goals to accelerate revenue growth, customer growth and glasses growth, all while maintaining operational discipline and expanding profitability," stated Dave Gilboa, co-founder and co-CEO of Warby Parker.

"From day one, Warby Parker's mission has been to provide vision for all, and for many of our customers, that means shopping at Target. We're excited to explore an entirely new retail format that brings our holistic vision care offerings — from prescription glasses and contacts to eye exams — to more people around the country," Gilboa elaborated.

Examining the company's financial results, Warby Parker's full year and fourth quarter net loss contracted to 20.4 million dollars and 6.9 million dollars, respectively. Throughout the year, the company expanded its physical presence by opening 41 stores, concluding 2024 with a total of 276 locations.

Looking forward, Warby Parker projects net revenue to range from 878 to 893 million dollars, indicating a growth rate of approximately 14 percent to 16 percent, alongside an adjusted EBITDA of roughly 97 million dollars. The company also plans to open 45 new stores, including the five shop-in-shops within select Target locations.

“This month, we celebrated Warby Parker’s 15th birthday. In 2025, we look to build upon our strong foundation, delivering exceptional customer experiences both in store and online, scaling our holistic vision care strategy, and ensuring that we make an even greater impact,” added co-founder and co-CEO Neil Blumenthal.