US Eyewear D2C Leader Loses $140 Billion in Market Value Overnight

Warby Parker Inc. (NYSE: WRBY), the U.S. eyewear brand, slid 5.23% on February 2, closing at $20.29. Trading volume climbed to 1.33 million shares, and the company’s market capitalization fell by about $108 million—roughly KRW 140 billion—from approximately $2.166 billion (KRW 2.9 trillion) to $2.058 billion (KRW 2.76 trillion) in a single day.

On February 26, Warby Parker reported fiscal 2025 results, posting annual revenue of $871.9 million and achieving its first full-year profit since going public. However, its 2026 revenue guidance came in below market expectations, triggering an initial stock rally after the earnings release that soon gave way to a pullback. More recently, reports of rising demand for its AI-driven smart glasses spurred a short-term price jump. Investors are weighing optimism over the planned 2026 launch of AI eyewear in partnership with Google and Samsung and a $100 million share buyback program against lingering concerns about sustainable growth.

Founded in New York in 2010, Warby Parker made its name by selling eyeglasses directly to consumers online at lower prices, then expanded into an omnichannel retailer with over 300 stores across the United States. Since its direct listing on the New York Stock Exchange in 2021, the company has faced intense price competition, weakening consumer spending and the end of its home-try-on service, all of which have compressed its valuation. It is now seeking new growth drivers through expanded insurance partnerships, in-store vision exams and its smart-glasses initiative.