Warby Parker Inc. Goldman Sachs Global Consumer and Retail Conference

Sure. If we think about Warby's journey, it's hard to believe we're now in our 16th year, but we started by being one of the pioneers of launching a lifestyle brand online, and we were purely e-commerce, I'd say. Act two was then going into bricks and mortar, and we've now scaled to over 350 stores and expanded into holistic vision care, selling adjacent products like contacts and offering eye exams. Now act three is just how do we transform leveraging AI? I think like every company on the planet, they're using this powerful new technology to drive productivity and expand profitability, but we also look at it as how can we create new products? The best example of that are the AI glasses or the Intelligent Eyewear that we'll launch later this year.

And we have a history of leveraging AI for enhancing customer experiences, whether it's our Virtual Vision Test or our Virtual Try-On, which was the first true-to-scale Virtual Try-On. Trying on glasses is really difficult, and most people aren't good at shopping for glasses because they do it pretty infrequently. But we had this technical challenge of how do you get a third-party object on someone's face and to fit as it would on the nose bridge, on the ears without a million hand measurements per se. And we continue to enhance that product. For example, we now have Glasses Eraser. So you could be wearing your glasses and our app will erase those glasses and virtually put on the ones that you're trying on. So we have a history of leveraging technology to enhance customer experiences. With Intelligent Eyewear, we're so excited.

If we think about new product introductions over the last 20 years, if you think about the iPhone, that was marketed first as a phone, plus a camera, plus an iPod. And it ended up being a lot more than that. It launched before the App Store even existed, and we couldn't fathom all the things that it was going to help us with our daily lives. Now, if you think about Intelligent Eyewear, one way to think of it would be as glasses, plus a camera, plus headphones, plus an AI agent. And we're just, as a society, starting to understand the power of some of these AI agents.

But as somebody who has been demoing our product, one of the things that I love most about it is that I am able to leave my phone in my pocket a lot more and leverage this form factor, which is the original wearable, to just make my life easier.

Yeah. We are designing for all-day, everyday wear. So what is going to make this product successful is if it looks great and it is comfortable, and then that it has real utility. We think content capture, for example, is a great intermittent use case, but is not something that will drive all-day adoption. So if we think about that first piece around style and comfort, what is super important is weight, and our eyewear is super lightweight. It has to look great, which I feel like we have a track record of designing eyewear that people love. And then as we think about utility, it has got to last. So our batteries at the moment, we are finding that lasts usage for about 9 hours on a single charge, which is great. And then it just has tons of usage.

I was using it to capture a photo through a window, and I said, "Hey, remove the glare from the photo." And then on my phone, photo popped up with a picture looking out a window with no glare through it, which was pretty amazing. Or when I am in between meetings, I am able to look up at my coworkers because I am able to ask the glasses quickly, "Hey, what is my next meeting?" As opposed to taking my phone out of my pocket, looking down. And it is just these small things that have significant impact. My co-founder was just walking back from the office and was asking his glasses to create a reminder for him to book a haircut. And the glasses responded, "I see your last haircut was with Ryan Cunningham Hair.

Would you like me to look on the website to see the next available appointment?" That's because we've partnered with Google. There are deep integrations with Google products to start, but also with other apps like Uber and Instacart and DoorDash. There's going to be tons of utility, and we think that if this makes your life easier, people are going to want it, and they're going to use it.