Warby Parker plans to open five shop-in-shops in Target in the second half of 2025, the eyewear maker’s first foray into multi-brand retail in its 15-year history, co-chief executive Neil Blumenthal said Thursday on the brand’s fourth quarter earnings call.

The company reported an 18 percent year-over-year revenue bump to $191 million in the final quarter of 2024, the biggest such increase since 2021. That was mostly driven by Warby Parker’s ongoing retail expansion. The eyewear maker is on track to open 45 stores this year including the five Target shop-in-shops.

Warby Parker’s unrelenting focus on brick-and-mortar, where customer acquisition is cheaper and loyalty is higher, continues to be a boon to the company’s bottom line. Warby Parker’s adjusted earnings before interest, taxes, depreciation and amortisation grew 32 percent to $14 million during the final quarter.

The brand also saw a bump in its e-commerce business, which slumped in recent years following a pullback in online marketing spend as its brick-and-mortar retail expansion ramped up. Online sales grew 5 percent during the quarter, Warby Parker’s chief financial officer Steve Miller said on the earnings call.

Warby Parker’s stock rose 12 percent in pre-market trading.

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Warby Parker Narrows Losses, Raises Full-Year Revenue Projections

The eyewear maker reported steady sales growth in the third quarter of the year as it continues its brick-and-mortar expansion.