Vera Bradley, Inc. operates as a designer of women’s handbags, accessories, and luggage and travel items. Segments The company sells its products through two segments, Direct and Indirect. The Direct segment consists of sales of Vera Bradley products through the company’s full-line and factory outlet stores in the United States, verabradley.com, direct-to-consumer eBay sales, and the company's annual outlet sale in Fort Wayne, Indiana. As of January 31, 2015, the company operated 96 full-line stores and 29 factory outlet stores. The Indirect segment consists of sales of Vera Bradley products to approximately 2,700 specialty retail locations, all of which are located in the United States, as well as department stores, national accounts, third party e-commerce sites, the company's wholesale business in Japan, and third party inventory liquidation. The company offers an assortment of products that meet its customers’ different functional needs, including bags, such as purses, totes, and backpacks; accessories, such as wallets, wristlets, phone cases, and technology accessories; and travel and travel accessories, such as weekend bags, duffel bags, and cosmetic bags. The company’s combination of patterns, styles, and products allows the company to appeal to all women, including teens, young women, mature women, mothers, and grandmothers. Products Bags: Bags are a core part of the company’s product offerings and are the primary component of every seasonal assortment. The category consists of classic and new styles developed by its product development team to meet consumer demand. The company’s bag product category includes items, such as totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags. Accessories: Accessories include technology accessories and fashion accessories, such as wallets, wristlets, eyeglass cases, jewelry, and scarves. Travel: The company’s travel product category includes rolling luggage, cosmetics, travel and packing accessories, and travel bags, including its duffel and weekend bags. The first Vera Bradley product offering included duffel bags. Home: The company’s home category includes items, such as mugs, tumblers, and textiles, including aprons, beach towels, throw blankets, and comforters. Growth Strategies The company’s growth strategies include offering innovative, fun, and functional consumer-right products; distribution channels; and generating excitement and desire for the Vera Bradley brand, attracting new customers while continuing to foster strong connections with its loyal fan base. Seasonality Because Vera Bradley products are frequently given as gifts, the company has historically realized higher sales and operating income in the fourth quarter of the company’s fiscal year (year ended January 2015), which includes the holiday months of November and December. Copyrights and Trademarks The company has approximately 700 copyrights. Its trademark is ‘Vera Bradley’. 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, Michael Kors, Fossil, Brahmin, and Tory Burch. History Vera Bradley, Inc. was founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller.
vera bradley inc (VRA:NASDAQ GS)
12420 Stonebridge Road
Roanoke, IN 46783
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