1Assignment #1FBM 262-204 Contemporary Retail ManagementProfessor SalernoJesse LeonardLuxottica v. Warby Parker Analysis – Assignment #1Section 1: Background and Profile1 - What is the background/history of each company?Warby Parker is an Sunglasses and prescription glasses US-based brand. It started online in 2010. The company was founded by Neil Blumenthal and Dave Gilboa. They claim that the company was, “founded with a rebellious spirit and a lofty objective: to offer designer eyewear at a revolutionary price, while leading the way for socially conscious businesses” (warbyparker.com). They opened up their first brick-and-mortar store in 2011-2013, in Soho, New York. They now have 60 retail stores in both the United States and Canada.Luxottica was founded in 1961 in Agordo, Italy by Leonardo Del Vecchio. They made their first pair of glasses in 1971. Later in 1971, Luxottica presented their first collection of prescription glasses at the International Optics Exhibition in Milan, one of the biggest international events of the global eyewear industry. Their first acquisition was of Scarrone S.p.A,“a well-established wholesale distributor on the italian market,” in 1974 (luxottica.com). Since opening they have had eighteen acquisitions, had eighteen licensing agreements, opened over 9,000 stores in 150 plus countries, opened thirteen manufacturing facilities, and opened thirteen distribution centers worldwide. 2 - How did they get to their current position in the market?Warby Parker attained their place in the market by using different retail techniques and offering their products online first. They also offered high quality products at relatively low prices, which helped them expand. Warby Parker has also launched a prescription check app, which has attracted a lot of customers, that allows customers to use a smartphone and laptop to undertake eye tests at home.