Warby Parker Wants To Destroy A $20 Billion Company That Charges Customers Insane Prices

Warby Parker Office Tour

Photo: The Daily Muse

Have you ever heard of a company called Luxottica?We hadn’t until we watched a 60 Minutes segment about them recently.

What we learned was pretty shocking!

The details:

  • Luxottica is a $20 billion company. 
  • It makes glasses and sells them.
  • 500 million people wear its products.
  • 65 million pairs were sold last year.
  • It owns Ray Bans and Oakley. It makes glasses for other brands it does not own, including Ralph Lauren, Chanel, Prada, Burbury, Prada, Tiffany, and many more.
  • It owns glasses stores Lenscrafters, Pearle Vision, Oliver Peoples, Sunglass Hut and others.
  • It owns Eyemed, the nation’s most popular vision insurance company.

Because it owns so much of the eyewear industry – from supply chain to distribution – Luxottica is able to charge very high prices for the glasses it sells.

The average frame plus lenses costs $300 at Lenscrafters. That’s about 20X more that it costs to make them.

Some people think this is an unfair ripoff. 

Some people believe that Luxottica is a monopoly that cannot be defeated.

One company that does not feel this way is New York-based startup Warby Parker, which is on a never-say-die mission to destroy Luxottica.

Our friends at The Muse recently took a trip to Warby Parker’s office, and came back with a photo-heavy profile of the company.

Watch the 60 Minutes segment about Luxottica

Go see more great tours from The Muse

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