Glasses have been en vogue for several years and with celebrities donning them on the Oscar’s red carpet, it doesn’t seem like the trend is about to fade away.
One company that’s benefitted from and also contributed to the glasses craze is Warby Parker, which is getting another $75 million, led by T. Rowe Price, to grow its business. The news was first reported by Cheddar.
And with the latest round, the New York-based startup is said to be valued at $1.75 billion. Warby Parker previously raised over $200 million, dating back to 2010.
The company also announced that it’s now profitable.
So what makes Warby Parker special? It has cute styles at relatively affordable prices, usually $95. I personally own a half dozen pairs of its glasses and sunglasses.
Warby Parker, which does most of its sales online, has a try-it-before-you-buy-it approach, allowing customers to select a few pairs to try on at home and then send the rest back.
They also have been building out its brick-and-mortar business, expanding to 65 retail locations throughout the United States. Customers are also able to test their prescriptions in stores.
The company is expected to IPO someday, but the latest funding implies that it’s not going to go public anytime soon. We’re hearing that Warby Parker is doing well, but is not in a rush.