AI-Powered Glasses Will Be Designed for All-Day
Wear
Announcement Marks First Eyewear Partnership
for Android XR
Google Commits Up to $150M, Including an Equity
Investment in Warby Parker, as Part of Long-Term Commitment to
Partnership
Warby Parker Inc. (NYSE: WRBY) (the “Company”), a
direct-to-consumer lifestyle brand focused on vision for all, today
announced a partnership with Google to develop AI-powered glasses
intended for all-day wear. The partnership will combine Warby
Parker’s signature approach to eyewear design with Google’s
industry-leading technology ecosystem, bringing the next generation
of computing to a new form factor: glasses.
“Since our launch we’ve set out to transform the optical
industry by leveraging pioneering technology to design better
products and experiences—and over the past 15 years, we’ve done
just that,” said Co-Founder and Co-CEO Dave Gilboa. “Looking ahead,
we believe multimodal AI is perfectly suited for glasses, enabling
real-time context and intelligence to augment a wearer’s
surroundings as they move through the world. We couldn’t be more
excited to be partnering with Google to bring together the best of
AI and the best of eyewear.”
“We're excited to work with Google to develop intelligent
eyewear that will enhance our everyday lives. The eyewear we wear
and the technology we use are core parts of our identity and our
daily experience. Our teams share a commitment to leverage design,
utility, and innovation to build products to help customers in
every aspect of life,” added Co-Founder and Co-CEO Neil
Blumenthal.
The companies are working closely on the development of future
smart glasses and intend to launch a series of products over time.
The partners' first line of intelligent eyewear, planned to launch
after 2025, will incorporate multimodal AI with prescription and
non-prescription lenses.
“Warby Parker's optical expertise, omnichannel approach, and
history of leveraging technology to create beautifully designed
products and exceptional customer experiences make them the perfect
partner to co-create and launch this next generation of smart
glasses on the Android XR platform,” shared Shahram Izadi, GM and
VP of XR at Google.
As part of this collaboration, Google has committed up to $75
million for Warby Parker’s product development and
commercialization costs. In addition, Google has committed to
investing up to $75 million in Warby Parker, at Warby Parker’s
option and subject to reaching certain collaboration
milestones.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may relate to, but are not limited to,
expectations of future operating results or financial performance,
including expectations regarding achieving profitability and
growth, delivering stakeholder value, growing market share;
management’s plans, priorities, initiatives and strategies;
expectations regarding growth of our business; expectations
regarding investments in the Company and our ability to achieve
milestones; expectations regarding the viability and success of new
products and the success of partnerships and the ability to
effectively collaborate. Forward-looking statements are inherently
subject to risks and uncertainties, some of which cannot be
predicted or quantified. In some cases, you can identify
forward-looking statements because they contain words such as
“anticipate,” “believe,” “contemplate,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “should,” “target,” “toward,” “will,” or
“would,” or the negative of these words or other similar terms or
expressions. You should not put undue reliance on any
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results and will
not necessarily be accurate indications of the times at, or by,
which such performance or results will be achieved, if at all.
Forward-looking statements are based on information available at
the time those statements are made and are based on current
expectations, estimates, forecasts, and projections as well as the
beliefs and assumptions of management as of that time with respect
to future events. These statements are subject to risks and
uncertainties, many of which involve factors or circumstances that
are beyond our control, that could cause actual performance or
results to differ materially from those expressed in or suggested
by the forward-looking statements. In light of these risks and
uncertainties, the forward-looking events and circumstances
discussed in this press release may not occur and actual results
could differ materially from those anticipated or implied in the
forward-looking statements. These risks and uncertainties include
our ability to manage our future growth effectively; our
expectations regarding cost of goods sold, gross margin, channel
mix, customer mix, and selling, general, and administrative
expenses; increases in component and shipping costs and changes in
supply chain; changes to U.S. or other countries' trade policies
and tariff and import/export regulations; our reliance on our
information technology systems and enterprise resource planning
systems for our business to effectively operate and safeguard
confidential information; our ability to invest in and incorporate
new technologies into our products and services; risks related to
our use of artificial intelligence; our ability to engage our
existing customers and obtain new customers; our ability to expand
in-network access with insurance providers; planned new retail
stores in 2025 and going forward; an overall decline in the health
of the economy and other factors impacting consumer spending, such
as recessionary conditions, inflation, infectious diseases,
government instability, and geopolitical unrest; our ability to
compete successfully; our ability to manage our inventory balances
and shrinkage; the growth of our brand awareness; our ability to
recruit and retain optometrists, opticians, and other vision care
professionals; the effects of seasonal trends on our results of
operations; our ability to stay in compliance with extensive laws
and regulations that apply to our business and operations; our
ability to adequately maintain and protect our intellectual
property and proprietary rights and license necessary third-party
intellectual property and proprietary rights; our reliance on third
parties for our products, operation and infrastructure; our duties
related to being a public benefit corporation; the ability of our
Co-Founders and Co-CEOs to exercise significant influence over all
matters submitted to stockholders for approval; the effect of our
multi-class structure on the trading price of our Class A common
stock; our ability to achieve milestones necessary for Google’s
equity investment into the Company and Google’s contribution to
product development and commercialization costs; our ability to
collaborate with partners with successful results; our ability to
recognize the anticipated benefits from the partnership with
Google; and the increased expenses associated with being a public
company. Additional information regarding these and other risks and
uncertainties that could cause actual results to differ materially
from the Company's expectations is included in our most recent
reports filed with the SEC on Form 10-K, Form 10-Q and Form 8-K.
Except as required by law, we do not undertake any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future developments, or otherwise.
Additional information regarding these and other factors that
could affect the Company’s results is included in the Company’s SEC
filings, which may be obtained by visiting the SEC's website at
www.sec.gov. Information contained on, or that is referenced or can
be accessed through, our website does not constitute part of this
document and inclusions of any website addresses herein are
inactive textual references only.
About Warby Parker
Warby Parker (NYSE: WRBY) was founded in 2010 with a mission to
inspire and impact the world with vision, purpose, and
style—without charging a premium for it. Headquartered in New York
City, the co-founder-led lifestyle brand pioneers ideas, designs
products, and develops technologies that help people see, from
designer-quality prescription glasses (starting at $95) and
contacts, to eye exams and vision tests available online and in our
287 retail stores across the U.S. and Canada.
Warby Parker aims to demonstrate that businesses can scale, do
well, and do good in the world. Ultimately, the Company believes in
vision for all, which is why for every pair of glasses or
sunglasses sold, it distributes a pair to someone in need through
its Buy a Pair, Give a Pair program. To date, Warby Parker has
worked alongside its nonprofit partners to distribute more than 15
million glasses to people in need.
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version on businesswire.com: https://www.businesswire.com/news/home/20250520232084/en/
Investor Relations: Jaclyn Berkley investors@warbyparker.com
Media: Ava Rojo ava@derris.com
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