Warby Parker Was Developed to Challenge the Dominant Player in the Market

question 93

True/False

Warby Parker was developed to challenge the dominant player in the market for eyewear. Founder Neil Blumenthal realized that a major firm, Luxottica, had an almost monopolistic hold on the eyewear and vision industry. They could therefore set high prices. He and his partners developed Warby Parker to develop less expensive glasses in-house at a fraction of the cost. Not only are Warby Parker's glasses much more affordable, but also the company donates money to a vision care nonprofit organization for every pair of glasses it sells. This allows people in developing countries access to eyewear who normally could not afford it. Warby Parker is an example of a company that has successfully engaged in disruptive innovation.

---

Definitions:

Joint Stepfamily

At least one child is the biological child of both parents, at least one child is the biological child of only one parent and the stepchild of the other parent, and no other type of child is present.

Mother-Stepfather

A family structure that includes a biological mother and her spouse, who is not the biological father of her children.

Father-Stepmother Family

A family structure where a child is raised by their biological father and a stepmother.

Previous Marriage

A marriage that one or both individuals were involved in before their current relationship.