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TARGET AND WARBY PARKER ANNOUNCE SHOP-IN-SHOP PARTNERSHIP
MINNEAPOLIS and NEW YORK—Target Corporation (NYSE: TGT) and Warby Parker (NYSE: WRBY) have announced a partnership that will expand their respective consumer reach through the retailer's newest shop-in-shop, Warby Parker at Target. Each Warby Parker at Target shop-in-shop will offer products and services—including glasses, sunglasses, contacts, eye exams and vision tests—that are consistent with the eyewear brand's current omnichannel experience, according to the announcement. The news comes against the backdrop of a fourth quarter and year-end investor's call this morning for Warby Parker that demonstrated net revenue growth in 2024 of $101.6 million, or 15.2 percent, to $771.3 million compared with full year 2023. The first five shop-in-shop locations, which will be staffed by Warby Parker employees, will open in the second half of 2025 at the following Target stores:● Willowbrook, Ill.● Bloomington, Minn.● Brick, NJ● Columbus, Ohio (Polaris)Beginning with the opening of the first location, Warby Parker at Target will also be discoverable through Target.com, the companies announced. Additional shop-in-shops are slated to open in 2026, with the opportunity for more in the coming years. "We've long offered our guests well-designed products at a value, and our latest shop-in-shop partnership with Warby Parker continues that tradition," said Christina Hennington, executive vice president and chief strategy and growth officer, Target. "Warby Parker at Target reflects both brands' commitment to style, affordability, quality and convenience. 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." "From day one, Warby Parker's mission has been to provide vision for all," said Dave Gilboa, co-founder and co-CEO of Warby Parker. "A big part of that commitment means meeting eyewear consumers where and how they want to shop—and for many of our customers, that means shopping at Target. We're excited to explore an entirely new retail format that brings our holistic vision care offerings—from prescription glasses and contacts to eye exams—to more people around the country."The announcement specifies that Warby Parker at Target will open in locations without existing Target Optical shops, noting that the new partnership complements Target Optical, an EssilorLuxottica retail shop found in an estimated 574 Target stores in the U.S. Target operates 1,978 total U.S. stores, according to the company website. Founded in 2010, New York City-based Warby Parker is accessible online and in 276 retail stores in the U.S. and Canada.Warby Parker at Target is striving to put affordable, designer-quality eyewear within reach of even more consumers, both companies advised, with prices expected to start at $95, including prescription lenses. (ICE NEW YORK)
Fonte notizia: Vision Monday