Lots of eyeballs were on Warby Parker’s direct listing this week. And the DTC darling delivered: Its stock price soared 36% in its Wednesday debut to close at $54.49, giving the company a $6+ billion valuation.
- There was a slight dip yesterday, with Warby ending the day at $53.05.
The strong showing could be a positive bellwether for the slew of online brands that have recently filed to go public, said Daniel McCarthy, assistant professor of marketing at Emory University’s Goizueta School of Business.
- A shortlist includes Allbirds, Fabletics, and Rent the Runway.
“The success that Warby Parker had with their IPO, it sends a signal to a lot of other companies that the market is receptive in general,” McCarthy told Retail Brew.Morning Brew