Shopping Centers Today

MAR 2015

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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Vera Bradley offers tremendous ver- satility and growth potential through diverse product offerings and sales chan- nels, according to Harry Cunningham, the company's head of store develop- ment. As of last December, the company was operating nearly 100 full-line stores and almost 30 factory outlet stores. Its products are sold also in roughly 2,700 specialty stores and select department stores in the U.S. In addition, the com- pany sells products on its own website and on eBay and other third-party sites. "The multichannel model allows the brand to speak to the consumer in many different ways," said Cunningham. "Vera Bradley clearly has a niche," said Faith Hope Consolo, chairman of the retail group at Douglas Elliman Real Estate, New York City. "Its bags lREADY kNowN FoR the bold colors and patterns of its merchandise, Vera Bradley is now taking correspondingly bold steps toward a brand transformation, in- cluding store expansion and efforts to extend its appeal to new custom- ers. Fort wayne, Ind.–based Vera Bradley, founded in 1982, is a de- signer of women's handbags and accessories, luggage and travel items, eyewear, stationery and gifts; the company generates in excess of $514 million in net revenue yearly. are instantly recognizable, and that is key to a successful brand. But that can also be a challenge: How many Vera Bradley bags and accessories will a shop- per want before she becomes bored and looks for the next cool thing?" Vera Bradley is in the early stages of its brand transformation, battling weak traf- fic at its mall stores and working to diver- sify its product mix still further. The hiring of Cunningham last December to head up store development is an important part of the company's strategy; he brings nearly 25 years of experience in store design and visual merchandising to the job, most recently at Saks Fifth Avenue. Boosting store traffic is a priority for Vera Bradley going forward. The com- pany has been relying on its e-commerce sales strength to help offset weakness on the brick-and-mortar side. Comparable A Vera the versatile vera bradley is boosting its appeal by broadening its offerings By Beth Mattson-Teig r e t A i l i n g t o d A y 12 S C t / M a r c h 2 0 1 5

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