Warby Parker is testing its newest shop-in-shop concept at Target after reporting higher revenue in Q4 2024.
Each Warby Parker at Target shop-in-shop will offer glasses, sunglasses, contacts, eye exams, and vision tests that are consistent with the eyewear brand’s current omnichannel offering.
Warby Parker at Target will also be accessible via Target’s online platform. Additional shop-in-shops are set to open next year, with the possibility of more in the future.
“Warby Parker at Target reflects both brands’ commitment to style, affordability, quality and convenience,” said Christina Hennington, executive VP and chief strategy and growth officer at Target.
“As we test and learn with this new partnership – bringing Warby Parker’s expertise into select stores – we’re enticing new consumers to discover more of Target.”
Warby Parker’s fourth-quarter net revenue climbed by $28.8 million, or 17.8 per cent, to $190.6 million compared to the fourth quarter of 2023. For the whole year, net revenue climbed by $101.6 million, or 15.2 per cent, to $771.3 million.
“In 2024, we delivered our second consecutive year of accelerated growth, increasing our market share and making meaningful progress on our strategic priorities while also growing adjusted EBITDA 40 per cent year over year,” said CFO Steve Miller. “This year, we plan to continue to drive sustainable and profitable growth.”
Including the Target stores, Warby Parker plans to open 45 stores during the second half of this year.