Online disruptor expands physical store presence

The revelation comes just three years after the hipster-chic brand opened an experimental physical store in Manhattan’s SoHo district, which CEO Mr Neil Blumenthal said was critical to providing a traditional brand of customer service.The new retail locations will be opened in major US cities including Los Angeles, Philadelphia and Miami and will complent the 46 existing stores.{{quote-A:R-W:480-I:2-Q: We quickly realised that while we were seeing all the benefits we expected from branding and marketing – the ‘halo’ effect of having a store open – stores could be a meaningful driver of sales and profitability, which was really unexpected, -WHO:Mr Dave Gilboa, co-executive officer of Warby Parker}}In an interview with the Wall Street Journal 18 months after opening the SoHo store, Warby Parker co-founder and co-executive officer Mr Dave Gilboa said their bricks and mortar stores were already achieving average annual sales of $3,000 per square foot.“We quickly realised that while we were seeing all the benefits we expected from branding and marketing – the ‘halo’ effect of having a store open – stores could be a meaningful driver of sales and profitability, which was really unexpected,” he said.The industry disruptor burst onto the scene with a model that let customers select up to five styles of eyeglasses online and have th delivered to their homes to test out for free.Locally, Australian company Sneaking Duck also follows a similar model, however, it is dwarfed by Warby Parker, which is now estimated to be valued at more than US$1 billion (AUS $1.3 b).Critics have pointed out that while this business model may prove to be convenient for consumers, it also poses a risk as it eliminates the need for a visit to an optometrist for accurate lens measurents.