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Warby Parker Inc. said Tuesday it has confidentially filed for an initial public offering, as the eyewear retailer recently embarked on a plan to open more stores.
The New York-based company didn’t provide a firm timeframe, saying only the IPO would take place after securities regulators complete a customary review and that the equity tap is “subject to market and other conditions.”
Warby Parker raised $245 million from private investors last year, reaching a $3 billion valuation and igniting talk of a possible IPO. According to a Wall Street Journal news report last month citing a person familiar with the matter, the retailer has been profitable since 2019.
Warby Parker got its start a little over a decade ago, mostly selling eyeglasses online and taking the then-unusual step of mailing several eyewear to potential customers’ homes so they could choose a pair without needing to set foot in a store.
Despite these beginnings, the company had been on a push to open more brick-and-mortar stores, telling the newspaper it planned to add 35 new stores this year to its network of about 135 stores.
