Latest / Omni Talk Retail / Is Target & Warby Parker's Partnership A Bigger Gamble Than It Appears?

Transcript

Is Target & Warby Parker's Partnership A Bigger Gamble Than It Appears? · Omni Talk Retail

• 0:00
  Target
• 0:00
  and
• 0:00
  Warby
• 0:01
  Parker
• 0:01
  are
• 0:01
  teaming
• 0:02
  up.
• 0:02
  According
• 0:02
  to
• 0:03
  Yahoo
• 0:03
  Finance,
• 0:03
  Target
• 0:04
  Corporation
• 0:04
  and
• 0:04
  Warby
• 0:05
  Parker
• 0:05
  are
• 0:06
  partnering
• 0:06
  to
• 0:06
  bring
• 0:06
  designer
• 0:07
  quality,
• 0:07
  affordable
• 0:08
  eyewear
• 0:08
  to
• 0:08
  even
• 0:09
  more
• 0:09
  consumers
• 0:10
  through
• 0:10
  the
• 0:10
  retailers
• 0:11
  newest
• 0:12
  shop
• 0:12
  and
• 0:12
  shop,
• 0:13
  Warby
• 0:13
  Parker
• 0:13
  at
• 0:13
  Target.
• 0:14
  Each
• 0:14
  Warby
• 0:15
  Parker
• 0:15
  at
• 0:15
  Target
• 0:16
  Shop
• 0:16
  and
• 0:16
  Shop
• 0:16
  will
• 0:17
  offer
• 0:17
  products
• 0:17
  and
• 0:18
  services
• 0:18
  including
• 0:18
  glasses,
• 0:19
  sunglasses,
• 0:20
  contacts,
• 0:21
  eye
• 0:21
  exams
• 0:22
  and
• 0:22
  vision
• 0:23
  tests
• 0:23
  that
• 0:23
  are
• 0:24
  consistent
• 0:24
  with
• 0:24
  the
• 0:24
  eyewear
• 0:25
  brand's
• 0:25
  current
• 0:25
  omnichannel
• 0:26
  experience.
• 0:27
  The
• 0:27
  first
• 0:27
  five
• 0:28
  locations,
• 0:28
  which
• 0:29
  will
• 0:29
  be
• 0:29
  staffed
• 0:29
  by
• 0:30
  Warby
• 0:30
  Parker
• 0:30
  employees,
• 0:31
  will
• 0:31
  open
• 0:31
  in
• 0:32
  the
• 0:32
  second
• 0:32
  half
• 0:32
  of
• 0:33
  2025,
• 0:34
  beginning
• 0:34
  with
• 0:34
  the
• 0:35
  opening
• 0:35
  of
• 0:35
  the
• 0:35
  first
• 0:36
  shop
• 0:36
  and
• 0:36
  shop
• 0:36
  location.
• 0:37
  Warby
• 0:37
  Parker
• 0:38
  at
• 0:38
  Target
• 0:38
  will
• 0:38
  also
• 0:39
  be
• 0:39
  discoverable
• 0:39
  through
• 0:40
  target.com
• 0:41
  Additional
• 0:41
  shop
• 0:42
  and
• 0:42
  shops
• 0:42
  are
• 0:42
  slated
• 0:43
  to
• 0:43
  open
• 0:43
  in
• 0:43
  2026,
• 0:44
  with
• 0:44
  the
• 0:44
  opportunity
• 0:45
  for
• 0:45
  more
• 0:46
  in
• 0:46
  the
• 0:46
  coming
• 0:46
  years.
• 0:47
  Chris,
• 0:47
  are
• 0:47
  you
• 0:48
  buying
• 0:48
  or
• 0:48
  selling
• 0:49
  the
• 0:49
  Target
• 0:49
  Warby
• 0:50
  partnership?
• 0:52
  Interesting.
• 0:52
  And
• 0:53
  I,
• 0:54
  I
• 0:54
  gotta
• 0:54
  tell
• 0:54
  you,
• 0:54
  I'm,
• 0:55
  I'm
• 0:55
  a
• 0:55
  little
• 0:55
  mixed
• 0:56
  on
• 0:56
  this
• 0:56
  one
• 0:57
  I
• 0:57
  think.
• 0:57
  Really?
• 0:58
  Yeah,
• 0:59
  yeah.
• 0:59
  For
• 0:59
  Target
• 0:59
  and
• 1:00
  all
• 1:00
  the
• 1:00
  crap
• 1:00
  it's
• 1:01
  taken
• 1:01
  around
• 1:01
  its
• 1:01
  Target,
• 1:02
  you
• 1:03
  know,
• 1:03
  reputation,
• 1:04
  I
• 1:04
  think,
• 1:04
  I
• 1:04
  think
• 1:04
  it's
• 1:04
  a
• 1:05
  good
• 1:05
  move.
• 1:05
  It's
• 1:05
  a
• 1:05
  no
• 1:05
  brainer
• 1:06
  and
• 1:06
  it
• 1:06
  definitely
• 1:06
  re
• 1:07
  establishes
• 1:07
  that
• 1:07
  positioning,
• 1:08
  you
• 1:08
  know,
• 1:08
  by
• 1:08
  way
• 1:08
  of
• 1:08
  the
• 1:09
  partnership.
• 1:09
  For
• 1:10
  Warby
• 1:10
  though,
• 1:10
  and
• 1:11
  I,
• 1:11
  I've
• 1:11
  got
• 1:12
  a
• 1:12
  lot
• 1:12
  of
• 1:12
  unanswered
• 1:13
  questions.
• 1:14
  First,
• 1:14
  first
• 1:15
  let's
• 1:15
  go
• 1:15
  back
• 1:15
  and
• 1:15
  look
• 1:15
  at
• 1:16
  Warby.
• 1:16
  Let's
• 1:16
  look.
• 1:16
  Yeah.
• 1:17
  First
• 1:17
  let's
• 1:17
  go
• 1:17
  back
• 1:17
  and
• 1:17
  look
• 1:18
  at
• 1:18
  Warby
• 1:18
  in
• 1:18
  general.
• 1:18
  Right.
• 1:19
  According
• 1:19
  to
• 1:19
  the
• 1:20
  article,
• 1:20
  Warby's
• 1:21
  been
• 1:21
  around
• 1:22
  since
• 1:22
  2010
• 1:23
  and
• 1:24
  currently
• 1:24
  operates
• 1:25
  276
• 1:26
  stores
• 1:26
  across
• 1:26
  U.S.
• 1:27
  and
• 1:28
  Canada.
• 1:29
  Okay.
• 1:30
  That
• 1:30
  means
• 1:31
  they've
• 1:31
  opened
• 1:31
  roughly
• 1:32
  18
• 1:32
  stores
• 1:33
  a
• 1:33
  year
• 1:33
  since
• 1:33
  they
• 1:34
  started.
• 1:35
  And
• 1:35
  that's
• 1:36
  for
• 1:36
  a
• 1:36
  concept
• 1:36
  that
• 1:37
  could
• 1:37
  literally
• 1:37
  be
• 1:37
  in
• 1:38
  every
• 1:38
  town
• 1:38
  in
• 1:38
  America.
• 1:39
  Like
• 1:39
  every
• 1:39
  town
• 1:40
  has,
• 1:40
  you
• 1:40
  know,
• 1:40
  an
• 1:41
  eyeglass
• 1:41
  store,
• 1:42
  you
• 1:42
  know,
• 1:42
  or
• 1:42
  for
• 1:42
  the
• 1:42
  most
• 1:43
  part
• 1:43
  every
• 1:43
  major
• 1:43
  town
• 1:44
  does.
• 1:45
  Which
• 1:45
  tells
• 1:46
  me
• 1:46
  honestly,
• 1:47
  if
• 1:47
  I'm
• 1:47
  thinking
• 1:47
  critically
• 1:48
  about
• 1:48
  this,
• 1:48
  or
• 1:48
  at
• 1:48
  least
• 1:48
  opens
• 1:49
  a
• 1:49
  door
• 1:49
  for
• 1:49
  this
• 1:50
  thought
• 1:50
  that
• 1:50
  they
• 1:51
  don't
• 1:51
  have
• 1:51
  their
• 1:51
  operating
• 1:51
  model
• 1:52
  down
• 1:52
  yet
• 1:53
  because
• 1:53
  that
• 1:53
  pace
• 1:54
  is
• 1:54
  pretty
• 1:54
  slow
• 1:55
  for
• 1:55
  a
• 1:55
  business
• 1:55
  that's
• 1:55
  been
• 1:56
  in
• 1:56
  operation
• 1:56
  for
• 1:56
  15
• 1:57
  years.
• 1:57
  Right.
• 1:58
  I
• 1:58
  mean
• 1:58
  look
• 1:58
  at
• 1:58
  like,
• 1:58
  look
• 1:58
  at
• 1:59
  aldi
• 1:59
  like
• 1:59
  opening
• 1:59
  250
• 2:00
  stores,
• 2:00
  you
• 2:00
  know,
• 2:01
  like,
• 2:01
  it's
• 2:01
  crazy.
• 2:01
  But,
• 2:02
  but
• 2:02
  so,
• 2:03
  so
• 2:03
  now
• 2:03
  they're
• 2:03
  going
• 2:04
  into
• 2:04
  Target.
• 2:05
  Okay,
• 2:05
  sure,
• 2:05
  Warby
• 2:06
  is
• 2:06
  getting
• 2:06
  a
• 2:06
  great
• 2:07
  deal.
• 2:07
  Right.
• 2:07
  They're
• 2:08
  getting
• 2:08
  a
• 2:08
  smoking
• 2:09
  deal
• 2:09
  on
• 2:09
  those
• 2:09
  five
• 2:09
  stores
• 2:10
  because
• 2:10
  Target
• 2:10
  really
• 2:11
  needs
• 2:11
  them
• 2:11
  for
• 2:11
  all
• 2:11
  the
• 2:12
  other
• 2:12
  things
• 2:12
  we've
• 2:12
  already
• 2:13
  alluded
• 2:13
  to.
• 2:14
  But
• 2:14
  the
• 2:14
  operating
• 2:14
  dynamics
• 2:15
  are
• 2:15
  going
• 2:15
  to
• 2:15
  be
• 2:16
  different.
• 2:16
  One,
• 2:17
  you're
• 2:17
  now
• 2:17
  inside
• 2:18
  of
• 2:18
  a
• 2:18
  Target,
• 2:19
  very
• 2:19
  different
• 2:19
  than
• 2:19
  what
• 2:19
  Warby
• 2:20
  knows.
• 2:21
  Two,
• 2:21
  the
• 2:21
  locations
• 2:22
  I'm
• 2:22
  in
• 2:23
  general,
• 2:23
  I'm
• 2:23
  guessing,
• 2:23
  having
• 2:24
  run
• 2:24
  Target,
• 2:24
  stores
• 2:25
  are
• 2:25
  going
• 2:25
  to
• 2:25
  be
• 2:25
  much
• 2:26
  smaller
• 2:27
  that,
• 2:28
  you
• 2:28
  know,
• 2:28
  are
• 2:28
  going
• 2:28
  to
• 2:28
  afford
• 2:29
  Warby,
• 2:29
  much
• 2:30
  less
• 2:30
  showroom
• 2:30
  space
• 2:31
  than
• 2:31
  the
• 2:31
  traditional
• 2:31
  stores
• 2:31
  that
• 2:32
  they're
• 2:32
  used
• 2:32
  to
• 2:32
  operating
• 2:33
  and
• 2:33
  much
• 2:33
  less
• 2:33
  backroom
• 2:34
  space
• 2:34
  too.
• 2:35
  And
• 2:36
  three,
• 2:36
  you
• 2:37
  know,
• 2:37
  all
• 2:37
  that
• 2:37
  explains
• 2:38
  why
• 2:38
  only
• 2:39
  five
• 2:39
  have
• 2:39
  been
• 2:39
  announced
• 2:40
  yet,
• 2:40
  because
• 2:40
  Warby
• 2:41
  probably
• 2:41
  understands
• 2:42
  there's
• 2:42
  a
• 2:42
  lot
• 2:42
  that
• 2:42
  they
• 2:43
  don't
• 2:43
  know
• 2:43
  in
• 2:43
  terms
• 2:43
  of
• 2:44
  what
• 2:44
  this
• 2:44
  is
• 2:44
  going
• 2:44
  to
• 2:45
  look
• 2:45
  like,
• 2:45
  how
• 2:45
  it's
• 2:45
  going
• 2:46
  to
• 2:46
  work
• 2:46
  operationally,
• 2:47
  can
• 2:47
  they
• 2:47
  succeed,
• 2:47
  can
• 2:48
  they
• 2:48
  get
• 2:48
  the
• 2:48
  profit,
• 2:49
  you
• 2:49
  know,
• 2:50
  out
• 2:50
  of
• 2:50
  this,
• 2:50
  this
• 2:51
  partnership
• 2:51
  that
• 2:51
  they
• 2:51
  want
• 2:51
  to.
• 2:52
  But.
• 2:52
  So
• 2:52
  net,
• 2:53
  net,
• 2:53
  net
• 2:54
  net.
• 2:54
  I
• 2:55
  like
• 2:55
  the
• 2:55
  move.
• 2:55
  I
• 2:56
  just
• 2:56
  wonder
• 2:56
  if
• 2:56
  five
• 2:57
  years
• 2:57
  from
• 2:57
  now
• 2:57
  we'll
• 2:57
  really
• 2:58
  see
• 2:58
  Warby
• 2:58
  Parker
• 2:59
  inside
• 2:59
  of
• 2:59
  Targets
• 3:00
  everywhere.
• 3:01
  And
• 3:01
  is
• 3:01
  the
• 3:02
  incremental
• 3:02
  benefit
• 3:03
  against
• 3:03
  the
• 3:03
  cost
• 3:04
  for
• 3:04
  either
• 3:04
  party
• 3:05
  really
• 3:05
  going
• 3:05
  to
• 3:05
  be
• 3:05
  that
• 3:06
  high?
• 3:06
  Because
• 3:06
  at
• 3:06
  the
• 3:06
  end
• 3:07
  of
• 3:07
  the
• 3:07
  day,
• 3:07
  and
• 3:07
  the
• 3:07
  question
• 3:08
  that
• 3:08
  I
• 3:08
  have
• 3:08
  is,
• 3:09
  yeah,
• 3:10
  and
• 3:10
  this
• 3:10
  is
• 3:10
  a
• 3:10
  kind
• 3:11
  of
• 3:11
  a
• 3:11
  question
• 3:11
  for
• 3:11
  the
• 3:11
  Target
• 3:12
  leadership
• 3:12
  again
• 3:12
  too,
• 3:13
  in
• 3:13
  terms
• 3:13
  of
• 3:13
  how
• 3:14
  well
• 3:14
  are
• 3:14
  they
• 3:14
  seeing
• 3:15
  around
• 3:15
  the
• 3:15
  corners?
• 3:16
  Why
• 3:16
  isn't
• 3:16
  Target
• 3:17
  just
• 3:17
  buying
• 3:17
  Warby
• 3:18
  now
• 3:19
  before
• 3:19
  helping
• 3:19
  to
• 3:20
  make
• 3:20
  it
• 3:20
  more
• 3:20
  valuable
• 3:21
  and
• 3:21
  then
• 3:22
  losing
• 3:22
  its
• 3:22
  negotiation
• 3:23
  leverage
• 3:23
  in
• 3:23
  the
• 3:23
  long
• 3:24
  run?
• 3:24
  Why
• 3:24
  don't
• 3:24
  they
• 3:24
  just
• 3:25
  make
• 3:25
  it
• 3:25
  part
• 3:25
  of
• 3:25
  Target
• 3:26
  like
• 3:26
  if
• 3:26
  they
• 3:27
  really
• 3:27
  see
• 3:27
  the
• 3:27
  long
• 3:27
  term
• 3:28
  value
• 3:28
  here?
• 3:28
  So,
• 3:29
  so
• 3:29
  that's
• 3:29
  why
• 3:29
  I'm
• 3:30
  mixed
• 3:30
  on
• 3:30
  this.
• 3:30
  I
• 3:30
  think
• 3:30
  it's,
• 3:31
  it's
• 3:31
  good,
• 3:31
  it
• 3:31
  gets
• 3:32
  the
• 3:32
  Target
• 3:32
  back.
• 3:32
  But,
• 3:33
  you
• 3:33
  know,
• 3:33
  I
• 3:33
  got
• 3:33
  a
• 3:34
  lot
• 3:34
  of
• 3:34
  questions
• 3:34
  in
• 3:34
  the
• 3:34
  long
• 3:35
  run.
• 3:35
  I
• 3:35
  don't
• 3:35
  think
• 3:35
  this
• 3:35
  is
• 3:35
  a
• 3:36
  slam
• 3:36
  dunk
• 3:36
  in
• 3:36
  any
• 3:36
  way,
• 3:37
  shape
• 3:37
  or
• 3:37
  form.
• 3:38
  I
• 3:38
  don't
• 3:38
  know.
• 3:38
  I
• 3:38
  think,
• 3:39
  I
• 3:39
  think
• 3:39
  you
• 3:39
  have
• 3:39
  to.
• 3:40
  This
• 3:40
  is
• 3:40
  still
• 3:41
  a
• 3:41
  new
• 3:41
  partnership
• 3:42
  and
• 3:42
  I
• 3:42
  don't
• 3:42
  know
• 3:42
  that
• 3:43
  like,
• 3:43
  maybe
• 3:44
  there
• 3:44
  will
• 3:44
  be
• 3:45
  an
• 3:45
  opportunity
• 3:46
  to
• 3:46
  acquire
• 3:46
  the
• 3:47
  company
• 3:47
  if
• 3:47
  the
• 3:48
  five
• 3:49
  locations
• 3:49
  work,
• 3:50
  if
• 3:50
  the
• 3:50
  tests
• 3:50
  work.
• 3:51
  I
• 3:51
  actually
• 3:51
  think
• 3:52
  this
• 3:52
  is
• 3:52
  a
• 3:52
  great
• 3:52
  move
• 3:52
  for
• 3:53
  Warby
• 3:53
  because
• 3:54
  while,
• 3:54
  yes,
• 3:54
  you
• 3:55
  have
• 3:55
  different,
• 3:55
  you
• 3:55
  know,
• 3:56
  targets
• 3:56
  are,
• 3:57
  some
• 3:57
  are,
• 3:57
  Targets
• 3:57
  are
• 3:57
  owned,
• 3:58
  some
• 3:58
  are
• 3:58
  leased,
• 3:59
  all
• 3:59
  the
• 3:59
  buildings
• 3:59
  and
• 3:59
  things
• 4:00
  like
• 4:00
  that.
• 4:00
  You're
• 4:00
  essentially
• 4:01
  working
• 4:01
  with
• 4:01
  one
• 4:02
  landlord
• 4:02
  as,
• 4:03
  as
• 4:03
  Warby
• 4:03
  here
• 4:04
  for
• 4:04
  all
• 4:04
  of
• 4:05
  these
• 4:05
  Target
• 4:05
  locations,
• 4:06
  which
• 4:06
  is
• 4:06
  much
• 4:06
  easier,
• 4:07
  I
• 4:07
  would
• 4:08
  imagine,
• 4:08
  than
• 4:08
  going
• 4:09
  into
• 4:09
  new
• 4:10
  community,
• 4:11
  a
• 4:11
  new
• 4:11
  location,
• 4:12
  a
• 4:12
  new
• 4:13
  spot
• 4:13
  every
• 4:13
  single
• 4:14
  time
• 4:14
  and
• 4:14
  having
• 4:14
  to
• 4:15
  work
• 4:15
  out
• 4:15
  those
• 4:15
  negotiations.
• 4:16
  I,
• 4:17
  I
• 4:17
  would,
• 4:17
  I
• 4:18
  would
• 4:18
  like
• 4:18
  fact
• 4:19
  check
• 4:19
  you
• 4:19
  a
• 4:19
  little
• 4:19
  bit
• 4:19
  on
• 4:20
  the
• 4:20
  size
• 4:20
  of
• 4:20
  the
• 4:20
  operation.
• 4:21
  I
• 4:21
  mean,
• 4:21
  I
• 4:21
  think
• 4:21
  we've
• 4:22
  seen
• 4:22
  Warby
• 4:23
  certainly
• 4:23
  like
• 4:23
  in
• 4:24
  Manhattan,
• 4:24
  they
• 4:24
  have
• 4:25
  a
• 4:25
  much
• 4:25
  grander,
• 4:26
  you
• 4:26
  know,
• 4:26
  like,
• 4:26
  flagship
• 4:27
  style
• 4:27
  store.
• 4:28
  But
• 4:28
  I
• 4:28
  think
• 4:28
  if
• 4:28
  you
• 4:28
  look
• 4:28
  at
• 4:28
  the
• 4:28
  Warbies
• 4:29
  around
• 4:29
  here
• 4:30
  like
• 4:30
  they're,
• 4:30
  they're,
• 4:31
  their
• 4:31
  space
• 4:32
  is
• 4:32
  pretty
• 4:32
  condensed.
• 4:33
  And
• 4:33
  if
• 4:33
  you
• 4:33
  look
• 4:34
  at
• 4:34
  the
• 4:34
  Target
• 4:34
  opticals,
• 4:35
  like,
• 4:35
  there's
• 4:35
  not
• 4:36
  huge
• 4:36
  back
• 4:36
  rooms
• 4:37
  at
• 4:37
  those
• 4:37
  Warbies.
• 4:38
  Like,
• 4:38
  I've
• 4:38
  actually
• 4:38
  looked
• 4:38
  at
• 4:38
  the
• 4:38
  ones.
• 4:39
  No,
• 4:39
  there's
• 4:39
  probably
• 4:40
  back
• 4:40
  rooms.
• 4:41
  Yeah,
• 4:41
  I
• 4:41
  think.
• 4:41
  I
• 4:42
  think
• 4:42
  it's.
• 4:42
  I
• 4:42
  think
• 4:42
  space
• 4:43
  they
• 4:44
  can
• 4:44
  work
• 4:44
  with.
• 4:44
  But
• 4:45
  I
• 4:45
  just.
• 4:46
  I'm
• 4:46
  so
• 4:46
  thrilled,
• 4:47
  Chris,
• 4:47
  because
• 4:47
  I
• 4:48
  think
• 4:48
  if
• 4:48
  you
• 4:48
  look
• 4:48
  at
• 4:48
  the
• 4:48
  headlines
• 4:49
  here
• 4:49
  and
• 4:50
  how
• 4:50
  Target
• 4:50
  is
• 4:50
  incorporating
• 4:51
  Warby,
• 4:52
  it's.
• 4:52
  It's
• 4:53
  available
• 4:53
  on
• 4:53
  target.com
• 4:54
  it's
• 4:54
  available,
• 4:55
  like,
• 4:55
  in
• 4:56
  the
• 4:56
  stores.
• 4:56
  Like,
• 4:57
  I
• 4:57
  just
• 4:57
  think
• 4:57
  this
• 4:57
  is
• 4:58
  a
• 4:58
  move
• 4:58
  from
• 4:58
  Target.
• 4:59
  It's
• 4:59
  good
• 4:59
  to
• 4:59
  see
• 4:59
  them
• 5:00
  in
• 5:00
  the
• 5:00
  news
• 5:01
  making
• 5:01
  the
• 5:01
  right
• 5:02
  decisions
• 5:02
  about
• 5:03
  how
• 5:03
  to
• 5:03
  approach
• 5:03
  this
• 5:03
  partnership.
• 5:04
  And
• 5:04
  I
• 5:04
  do
• 5:04
  think
• 5:04
  that
• 5:05
  starting
• 5:05
  small
• 5:06
  and
• 5:06
  starting
• 5:06
  with
• 5:06
  the
• 5:06
  five
• 5:07
  locations
• 5:08
  is.
• 5:08
  Is
• 5:08
  important
• 5:09
  for
• 5:09
  whatever
• 5:10
  the
• 5:10
  future
• 5:10
  of
• 5:10
  this
• 5:11
  partnership
• 5:11
  looks
• 5:12
  like.
• 5:12
  And
• 5:12
  quite
• 5:12
  frankly,
• 5:13
  I
• 5:13
  was
• 5:13
  really
• 5:13
  surprised
• 5:14
  to.
• 5:14
  To
• 5:14
  see
• 5:14
  that
• 5:15
  they
• 5:15
  only
• 5:15
  mentioned
• 5:15
  that
• 5:16
  once
• 5:16
  yesterday
• 5:17
  in
• 5:17
  their
• 5:17
  earnings
• 5:17
  call,
• 5:18
  you
• 5:19
  know,
• 5:19
  and
• 5:19
  they
• 5:19
  weren't
• 5:19
  talking
• 5:19
  about
• 5:20
  this
• 5:20
  as
• 5:20
  a
• 5:21
  growth
• 5:21
  opportunity,
• 5:22
  you
• 5:22
  know,
• 5:23
  as
• 5:23
  much
• 5:23
  as
• 5:23
  they
• 5:23
  were
• 5:24
  about
• 5:24
  Wicked
• 5:24
  last
• 5:25
  quarter
• 5:25
  when
• 5:25
  they
• 5:25
  were
• 5:26
  talking
• 5:26
  about
• 5:26
  that.
• 5:26
  Like,
• 5:26
  I
• 5:27
  think
• 5:27
  this
• 5:27
  is
• 5:27
  something
• 5:28
  that
• 5:28
  really
• 5:29
  could
• 5:29
  show
• 5:29
  some
• 5:30
  great
• 5:30
  potential
• 5:30
  for
• 5:31
  Target
• 5:31
  and
• 5:32
  I
• 5:32
  think,
• 5:32
  you
• 5:32
  know,
• 5:32
  brings
• 5:33
  some
• 5:33
  traffic
• 5:34
  back
• 5:34
  into
• 5:34
  them.
• 5:35
  Warby
• 5:35
  hasn't
• 5:36
  had
• 5:36
  a
• 5:36
  crazy
• 5:37
  growth
• 5:37
  trajectory,
• 5:38
  but
• 5:38
  there's
• 5:39
  still
• 5:39
  some
• 5:39
  more
• 5:39
  cachet
• 5:40
  in
• 5:40
  this
• 5:40
  brand
• 5:41
  that
• 5:41
  I
• 5:41
  think
• 5:41
  we
• 5:41
  have
• 5:42
  to
• 5:42
  take
• 5:42
  for,
• 5:42
  like,
• 5:43
  take
• 5:43
  into
• 5:43
  account
• 5:44
  here.
• 5:44
  If
• 5:44
  this
• 5:44
  becomes
• 5:44
  the
• 5:44
  next
• 5:45
  lens
• 5:45
  crafters,
• 5:46
  Warby's
• 5:46
  lost
• 5:46
  all
• 5:47
  of
• 5:47
  its
• 5:47
  cool.
• 5:47
  So
• 5:48
  I
• 5:48
  think
• 5:48
  there's
• 5:48
  still
• 5:49
  some,
• 5:49
  like.
• 5:50
  There's
• 5:50
  still
• 5:50
  some,
• 5:51
  like,
• 5:51
  scarcity
• 5:52
  that
• 5:52
  has
• 5:52
  to
• 5:52
  be
• 5:53
  available
• 5:53
  to
• 5:54
  get
• 5:54
  the
• 5:54
  traffic
• 5:54
  drivers
• 5:55
  that
• 5:55
  I
• 5:55
  think
• 5:55
  Target
• 5:56
  and
• 5:56
  Warby
• 5:56
  are
• 5:57
  going
• 5:57
  to
• 5:57
  need
• 5:57
  with
• 5:57
  this
• 5:57
  partnership.
• 5:58
  But.
• 5:59
  But,
• 5:59
  yeah,
• 6:00
  well,
• 6:00
  I
• 6:00
  think.
• 6:01
  Oh,
• 6:01
  go
• 6:01
  ahead.
• 6:02
  Yeah.
• 6:03
  No,
• 6:03
  no,
• 6:03
  I
• 6:03
  was
• 6:03
  going
• 6:04
  to.
• 6:04
  I
• 6:04
  was.
• 6:04
  Well,
• 6:04
  I
• 6:04
  was
• 6:04
  going
• 6:04
  to
• 6:04
  actually
• 6:05
  have
• 6:05
  you
• 6:05
  put
• 6:05
  your
• 6:05
  money
• 6:05
  where
• 6:06
  your
• 6:06
  mouth
• 6:06
  is
• 6:06
  on
• 6:06
  that.
• 6:06
  So,
• 6:06
  like,
• 6:07
  the.
• 6:07
  One
• 6:07
  of
• 6:07
  the
• 6:07
  locations
• 6:07
  is
• 6:08
  the
• 6:08
  Bloomington
• 6:08
  store,
• 6:09
  probably
• 6:10
  less
• 6:10
  than
• 6:10
  two
• 6:10
  miles
• 6:11
  from
• 6:12
  another
• 6:12
  Warby
• 6:13
  location.
• 6:13
  Of
• 6:13
  those
• 6:14
  200
• 6:14
  that
• 6:15
  we
• 6:15
  mentioned,
• 6:15
  which
• 6:15
  is
• 6:15
  right
• 6:15
  down
• 6:16
  the
• 6:16
  block
• 6:16
  from
• 6:16
  us.
• 6:16
  Both
• 6:17
  of
• 6:17
  these,
• 6:18
  given
• 6:18
  your
• 6:18
  druthers,
• 6:19
  which
• 6:19
  one
• 6:19
  are
• 6:19
  you
• 6:19
  going
• 6:20
  into
• 6:20
  if
• 6:20
  you
• 6:20
  just
• 6:21
  need
• 6:21
  eyeglasses
• 6:21
  and
• 6:22
  an
• 6:22
  eye
• 6:22
  exam?
• 6:24
  I.
• 6:24
  I
• 6:25
  don't
• 6:25
  know
• 6:25
  that
• 6:25
  that's.
• 6:27
  I
• 6:27
  don't
• 6:27
  know
• 6:27
  that
• 6:27
  that's
• 6:28
  the
• 6:28
  question.
• 6:28
  I
• 6:29
  guess
• 6:29
  for
• 6:29
  me,
• 6:30
  it's
• 6:30
  like,
• 6:30
  what
• 6:30
  do
• 6:30
  I
• 6:30
  need
• 6:31
  to
• 6:31
  get
• 6:31
  done
• 6:31
  on
• 6:31
  a
• 6:32
  Saturday?
• 6:32
  I
• 6:32
  need
• 6:32
  to
• 6:33
  go
• 6:33
  get
• 6:33
  new
• 6:33
  glasses
• 6:33
  and
• 6:34
  I
• 6:34
  need
• 6:34
  to
• 6:34
  pick
• 6:34
  up
• 6:34
  essentials.
• 6:35
  So
• 6:35
  if
• 6:36
  that's
• 6:36
  the
• 6:36
  case,
• 6:36
  I'm
• 6:37
  going
• 6:37
  to
• 6:37
  the
• 6:37
  Bloomington
• 6:38
  one
• 6:38
  because
• 6:38
  I
• 6:38
  can.
• 6:38
  Do
• 6:39
  you're
• 6:39
  coordinating
• 6:39
  your
• 6:40
  trip
• 6:40
  around
• 6:40
  your
• 6:41
  appointment?
• 6:41
  I
• 6:41
  think
• 6:42
  so,
• 6:42
  yeah.
• 6:42
  Yeah.
• 6:43
  I
• 6:43
  mean,
• 6:43
  you'll
• 6:43
  still
• 6:43
  have
• 6:44
  traffic
• 6:44
  going
• 6:44
  directly
• 6:45
  to
• 6:45
  that.
• 6:45
  To
• 6:46
  the.
• 6:46
  A
• 6:46
  mall
• 6:46
  where
• 6:46
  the
• 6:47
  Warby
• 6:47
  Parker
• 6:47
  is
• 6:48
  here,
• 6:48
  closest
• 6:48
  to
• 6:48
  us.
• 6:49
  But
• 6:49
  if.
• 6:49
  If
• 6:50
  it's
• 6:50
  a
• 6:50
  Saturday
• 6:50
  and
• 6:51
  I,
• 6:51
  you
• 6:51
  know,
• 6:51
  I
• 6:51
  don't
• 6:51
  have
• 6:52
  to
• 6:52
  go
• 6:52
  across
• 6:52
  the
• 6:52
  street
• 6:53
  to
• 6:53
  go
• 6:53
  to
• 6:53
  the
• 6:53
  Target.
• 6:53
  If
• 6:54
  I
• 6:54
  go
• 6:54
  to
• 6:54
  the
• 6:54
  mall
• 6:54
  location
• 6:55
  of
• 6:55
  Warby,
• 6:55
  my
• 6:55
  house,
• 6:56
  I
• 6:56
  can
• 6:56
  go
• 6:56
  to
• 6:56
  one
• 6:57
  spot
• 6:57
  and
• 6:57
  get
• 6:57
  them
• 6:57
  all
• 6:57
  done.
• 6:58
  Like,
• 6:58
  I
• 6:58
  think
• 6:59
  there's
• 6:59
  value
• 6:59
  there,
• 7:00
  and
• 7:00
  I
• 7:00
  think
• 7:00
  it's.
• 7:01
  It's
• 7:01
  also
• 7:01
  exposure
• 7:02
  of
• 7:03
  new
• 7:03
  people,
• 7:03
  Target
• 7:04
  customers
• 7:04
  to
• 7:05
  this
• 7:05
  brand
• 7:05
  who
• 7:05
  maybe
• 7:06
  was
• 7:06
  like,
• 7:07
  I
• 7:07
  like
• 7:07
  Warby.
• 7:08
  I
• 7:08
  don't
• 7:08
  know
• 7:09
  much
• 7:09
  about
• 7:09
  it,
• 7:09
  but
• 7:10
  now
• 7:10
  when
• 7:10
  it's
• 7:10
  in
• 7:10
  front
• 7:10
  of
• 7:10
  them
• 7:11
  in
• 7:11
  the
• 7:11
  checkout
• 7:11
  lanes,
• 7:12
  I
• 7:12
  feel
• 7:12
  like
• 7:13
  it's
• 7:13
  going
• 7:13
  to
• 7:13
  happen.
• 7:14
  Like,
• 7:14
  there's
• 7:14
  just
• 7:14
  going
• 7:14
  to
• 7:14
  be
• 7:15
  more
• 7:15
  people
• 7:15
  engaging
• 7:15
  with
• 7:16
  it.
• 7:16
  But.
• 7:17
  Okay.
• 7:17
  All
• 7:17
  right.
• 7:17
  We'll
• 7:18
  see.
• 7:18
  All
• 7:18
  right.
• 7:20
  I
• 7:20
  like
• 7:20
  that
• 7:20
  you
• 7:21
  backed
• 7:21
  it
• 7:21
  up.
• 7:21
  Yeah,
• 7:21
  no,
• 7:21
  it
• 7:22
  is.
• 7:22
  It's
• 7:22
  definitely
• 7:22
  an
• 7:22
  early
• 7:22
  test.
• 7:23
  I
• 7:23
  just.
• 7:23
  I
• 7:23
  just
• 7:23
  have.
• 7:23
  I
• 7:24
  just
• 7:24
  have
• 7:24
  a
• 7:24
  lot
• 7:24
  of
• 7:24
  questions
• 7:24
  operationally.
• 7:25
  The
• 7:25
  other
• 7:26
  thing
• 7:26
  is
• 7:26
  staffing
• 7:26
  like
• 7:27
  those.
• 7:27
  The
• 7:27
  Warby
• 7:28
  stores
• 7:28
  I've
• 7:28
  been
• 7:28
  in
• 7:28
  are
• 7:29
  incredibly
• 7:30
  staffed,
• 7:30
  too.
• 7:30
  And
• 7:31
  so
• 7:31
  I'm
• 7:31
  wondering
• 7:31
  if
• 7:31
  that's
• 7:32
  going
• 7:32
  to
• 7:32
  work
• 7:32
  as
• 7:32
  you
• 7:32
  go
• 7:32
  into
• 7:32
  targets
• 7:33
  in
• 7:33
  the
• 7:33
  long
• 7:33
  run.
• 7:33
  But
• 7:33
  anyway.