Warby Parker ended its second full year as a public company on an upbeat note amid an expanded partnership that’s expected to drive customer growth.
The company opened 40 stores in 2023, ending the year with 237 units. It expects to open another 40 locations across 2024.
“Our stores serve as billboards and act as efficient customer acquisition vehicles,” Co-Founder and Co-CEO Dave Gilboa told analysts on the company’s earnings call. “To amplify our retail channel, we plan to allocate a portion of our media budget towards driving local store awareness and store traffic in a more intentional manner than in prior years.”
For the full year, Warby Parker’s net revenue rose 12 per cent to $669.8M. Average revenue per customer increased 9.3 per cent year over year to $287.
“2023 marked our second full year as a public company and one in which we executed on our commitment to growing sustainably, delivering double-digit revenue growth each quarter while improving margins and creating exceptional customer experiences,” said Co-Founder and Co-CEO Neil Blumenthal.
