It’s a New Day: Vera Bradley Announces Brand Transformation as it Modernizes For Today’s Customer

FORT WAYNE, Ind., July 11, 2024 (GLOBE NEWSWIRE) -- Vera Bradley, Inc. (Nasdaq: VRA) (the “Company”) and its iconic American bag, luggage, and lifestyle brand, Vera Bradley, today unveiled a full transformation aimed at reinvigorating the business and restoring brand relevance – featuring a new logo, in-store renovations, an optimized website experience, and updated digital channel presence – as well as a new, elevated product line that celebrates customers’ unique sense of style and encourages self-expression.

The new product assortment, available to shop now, features elevated fabrics and performance materials, such as cotton gabardine, oxford canvas, and genuine full grain leather, and includes an expansion of modernized silhouettes. The new styles have been elegantly redesigned while honoring the heritage and elements that have classically defined Vera Bradley.

As part of its refresh and elevated marketing strategy, Vera Bradley has enlisted actress, musician, and entrepreneur Zooey Deschanel to serve as the face of the brand’s fall creative campaign, which will span across billboards, print, and digital platforms. Deschanel hand-selected her favorite items, including the Astoria Shoulder Bag, Springbrook Sling Crossbody, and Miramar Weekender, for the campaign, which emphasizes how Vera Bradley is designed for modern movement, fashion, and function, and inspires customers to be their own muse.

“I love what the Vera Bradley brand stands for – uplifting women and helping them express themselves. Plus, all of the patterns and colors make the brand fun to wear,” said Zooey Deschanel. “When it comes to bags, I choose options that reflect my own style but are also functional for everything I need to do in a day. This new collection has a bag to match every mood, activity, and outfit.”

In addition to expanding its handbag selection with new fabrications and silhouettes, the brand is making enhancements to some of its best-selling styles, such as duffels and backpacks, to modernize them in shape, fabric, and color. Customers will also be able to further personalize each style and curate their own look for each occasion by mixing and matching a wide assortment of accessories including bag charms, keychains, and scarves.

“After months of analyzing our business, our competition, our customers, and industry trends, we made the strategic decision to pivot priorities and consciously invest in elevating and reinvigorating Vera Bradley in order to restore our brand relevance. This next chapter focuses on meeting the needs of today’s dynamic woman, while honoring and celebrating the DNA of our brand that generations of women have loved for more than 40 years,” said Jacqueline Ardrey, President & Chief Executive Officer.

As part of the full brand transformation, Vera Bradley has revamped all elements of its retail experience – both online and in-store – providing customers with a new way to shop its selection by curating complementary looks and essentials for all of life’s daily needs. The brand will expand its Full Line store footprint over time, beginning with the addition of three stores this year, making comprehensive updates to further differentiate these from Vera Bradley Outlet stores. The brand has also redesigned its website and changed aesthetics across its social media channels. In addition to these external shifts, the Company has assembled a team of experienced leaders to lead the transformation.

“Every element of this transformation was thoughtfully debated, discussed, and decided on by our team,” said Chief Marketing Officer Alison Hiatt. “We are strategically marketing our distinctive and unique position as a beloved brand that connects with our core customer on a deep, emotional level. At one point in her life, she had a Vera Bradley bag – maybe it’s saved in her closet, or maybe she’s passed it down to the next generation – but we’re ready to be part of her life again, and meet her where she is today. We hope this fresh take on Vera Bradley not only fits into her life seamlessly, but also delights her as she cultivates the unique sense of style that makes her so damned interesting, as we like to say.”

The new Vera Bradley collection ranges in price from $15 to $295 and is available now in Vera Bradley Full Line Stores, participating Vera Bradley retailers, and online at www.verabradley.com. Follow @verabradley for updates and to learn more.

About Vera Bradley, Inc.

Vera Bradley, Inc. operates two unique lifestyle brands – Vera Bradley and Pura Vida. Vera Bradley and Pura Vida are complementary businesses, both with devoted, emotionally-connected, and multi-generational female customer bases; positioning as “gifting” brands; strong, entrepreneurial cultures; a keen focus on community and charity; multi-channel distribution strategies; and talented leadership teams aligned and committed to the long-term success of their brands.

Vera Bradley, based in Fort Wayne, Indiana, is a leading designer of women’s handbags, luggage and other travel items, fashion and home accessories, and unique gifts. Founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller, the brand is known for its innovative designs, iconic patterns, and brilliant colors that inspire and connect women unlike any other brand in the global marketplace.

Pura Vida, based in La Jolla, California, is a digitally native, highly-engaging lifestyle brand with a differentiated and expanding offering of bracelets, jewelry, and other lifestyle accessories.

Vera Bradley Safe Harbor Statement

Certain statements in this release are "forward-looking statements" made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and are subject to various risks and uncertainties that may cause actual results to differ materially from those that we expected, including: possible adverse changes in general economic conditions and their impact on consumer confidence and spending; possible inability to predict and respond in a timely manner to changes in consumer demand; possible loss of key management or design associates or inability to attract and retain the talent required for our business; possible inability to maintain and enhance our brands; possible inability to successfully implement the Company’s long-term strategic plan; possible inability to successfully open new stores, close targeted stores, and/or operate current stores as planned; incremental tariffs or adverse changes in the cost of raw materials and labor used to manufacture our products; possible adverse effects resulting from a significant disruption in our distribution facilities; or  business disruption caused by pandemics or other macro factors.  More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended February 3, 2024.  We undertake no obligation to publicly update or revise any forward-looking statement. 

Contacts

877-708-VERA (8372)
Mediacontact@verabradley.com

HUNTER for Vera Bradley
verabradley@hunterpr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c9fff642-1c91-43b5-9da8-8da98640126f