"Glasses should fit the face; it's not about adjusting the face to the glasses."
In May, a report starting with this sentence was posted on the Harvard Business School (HBS) website. It is a 24-page report about the South Korean 3D eyewear startup Breezm, written after Professor Juan Alcácer visited Breezm's store in Euljiro, Seoul, and interviewed its managers last May. It is rare for HBS to cover South Korean startups as a case study. It will also be used as a textbook this fall semester.
At that time, Professor Alcácer noted that he had experienced discomfort from wearing glasses for a long time due to a significant difference in vision between his two eyes. After wearing customized glasses made by Breezm, he felt satisfied and revealed a report detailing Breezm's innovative case. One part dealt with Breezm's initial market entry process, and two additional studies on future overseas expansion strategies and the process of entering the U.S. market will be published.
With traditional glasses, one had to select the best-fitting option from mass-produced eyewear. Generally, they do not fit well, but adjustments are made to the temples and nose pads. Professor Alcácer praised Breezm's approach, which involves 3D scanning to capture the contours of the face and 3D printing to produce glasses that fit the wearer.
Park Hyung-jin, co-CEO of Breezm, said to ChosunBiz on the 4th, "It seems we received good evaluations from HBS regarding our redesign of customer experience using advanced technology in an old, outdated industry like eyewear."
Breezm, founded in 2018 by Park Hyung-jin and Sung Woo-seok, is a glasses brand based on 3D facial scanning, 3D printing technology, and artificial intelligence (AI) big data recommendations. True to its name, which combines the lightness of a breeze and optical expertise (prism), it creates glasses for a comfortable and clear life. Last year alone, it sold over 25,000 pairs, generating sales of 10.8 billion won, a 52.5% increase compared to the previous year. Recently, it secured a Series B investment of 8 billion won, achieving a cumulative investment of 19.5 billion won.
There have been places that made customized glasses before. However, using traditional methods requires going through 20 processes to create personalized glasses, with prices exceeding 1 million won. In contrast, the 3D printing process ends with just four steps: 3D digital modeling, printing, smoothing, and coloring, and can be matched at a price of around 200,000 won.
According to Park, there are only about three places worldwide that scan users' faces to produce glasses through 3D printing like Breezm. Among these, Breezm is said to be the only one that has its own store and branding.
Breezm, which opened a store in New York last year, will open a 660㎡ (approximately 200 pyeong) smart factory in Seongsu-dong, Seoul next month, and plans to launch an iPhone-exclusive application next November to facilitate glasses ordering from home. It aims to initiate overseas expansion in earnest with a goal of going public (IPO) in 2027.
Park said, "Since the establishment of the company, our goal has been to enter the U.S. market," noting that there are height differences in nose bridges by 10 to 30 mm among U.S. customers, while Korea's single ethnic group results in less variance in facial shapes, limiting the customized eyewear business.
According to the HBS report, the global eyewear market, valued at $139 billion (192.5 trillion won) in 2022, is projected to grow to $178 billion (approximately 246.6 trillion won) by 2027. The increase in life expectancy and the growing incidence of eye-related diseases like myopia are expected to drive market growth.
Currently, Breezm's New York store generates monthly sales averaging 60 to 70 million won. Although the sales figure is small, the net promoter score (NPS) stands at an average of 70, higher than Korea's average of 50. Park attributes this success to the precise detailing of Korean eyewear.
The smart factory opening on the 17th of next month will relocate the existing factory from Anyang, designed as a space where customers can directly see and experience the process of 3D printed glasses being made. Park stated, "The fundamental philosophy of Breezm is not to use objects unrelated to the comfort of wearing glasses," and added, "We conceptualized 'Foundry Orange' as a space where Breezm's new innovations begin. We also plan to showcase collaborations with innovative brands."