Vera Bradley, Inc. designs, produces, markets, and retails functional accessories for women. The company’s products include handbags, accessories, and travel and leisure items. Segments The company sells its products through two segments, Direct and Indirect. As of February 1, 2014, the Direct segment consisted of sales of Vera Bradley products through 84 full-price and 15 outlet stores in the United States; 13 department store locations in Japan; Websites, verabradley.com and verabradley.co.jp; and annual outlet sale in Fort Wayne, Indiana. As of February 1, 2014, the Indirect segment consisted of sales of Vera Bradley products to approximately 3,100 specialty retailers, substantially all of which are located in the United States, as well as select department stores and third party e-commerce sites. Products Handbags: The category consists of classic and new styles developed by product development team to meet consumer demand and drive repeat purchases. The handbag product category extends beyond handbags to include totes and specialty bags such as crossbodies, baby bags, backpacks, and laptop portfolios. Accessories: Accessories include technology accessories and fashion accessories such as wallets, wristlets, eyeglass cases, cosmetics cases, and paper and gift products. Travel and Leisure Items: Travel and leisure product category includes duffel bags, garment bags, rolling luggage, and travel accessories, such as travel cosmetic cases. Seasonality The company realizes higher sales and operating income in the fourth quarter of its fiscal year, which includes the holiday months of November and December. Trademarks The company has approximately 650 copyrights. Its trademarks include ‘Vera Bradley'. Significant Events In June 2014, Vera Bradley enters import and distribution agreement with Mitsubishi Corporation and Look Inc. for the sale of its products in Japan. Competition The company directly competes with wholesalers and direct sellers of branded handbags and accessories, such as Coach, Nine West, Liz Claiborne, Dooney & Bourke, Kate Spade, and Michael Kors. History Vera Bradley, Inc. was founded in 1982.
vera bradley inc (VRA:NASDAQ GS)
2208 Production Road
Fort Wayne, IN 46808
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