FORT WAYNE, Ind., Sept. 01, 2016 (GLOBE NEWSWIRE) -- Vera Bradley, Inc. (Nasdaq:VRA) (“Vera Bradley” or the “Company”) today announced it has entered into two licensing agreements for stationery and publishing.
Rob Wallstrom, Chief Executive Officer of Vera Bradley, noted, “One of our main objectives this year was to explore appropriate licensing opportunities to strengthen our brand, expand our reach to even more distribution points and customers, and establish a solid foundation for international growth. Entering into these two arrangements is a great start.”
“We have been working diligently over the last few months to identify the right licensing partners in our focus businesses of home, fashion, and beauty,” commented Sue Fuller, Chief Merchandising Officer for Vera Bradley. “We are very fortunate that there is enormous interest in Vera Bradley in each of these areas and that we are able to be selective and develop relationships with the expert partners that are the best fits for our Company. We expect to announce additional licensing agreements in the future.”
Fuller added, “Our distinctive patterns naturally lend themselves to a myriad of products in home, fashion, and beauty.”
The Company has entered into an arrangement with Lifeguard Press for signature stationery and home and office organizational products. The Company will transition from an internally-managed program and will introduce the expanded line of products in fall 2017. The Company has also entered into a licensing agreement with Fox Chapel Publishing for coloring activity and design books and gift sets featuring Vera Bradley’s iconic patterns, which will be available for holiday 2016.
These products will be sold in appropriate distribution channels including Vera Bradley stores, verabradley.com, and specialty and chain stores throughout the country.
Vera Bradley will work with the licensing partners in the development and final approval of all product designs. Management does not expect licensing partnerships to have a material impact on the company’s financial performance for the fiscal years ending January 28, 2017 and February 3, 2018.
About Vera Bradley, Inc.
Vera Bradley is a leading designer of women's handbags, luggage and travel items, fashion and home accessories and unique gifts. Founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller, the brand's innovative designs, iconic patterns and brilliant colors continue to inspire and connect women unlike any other brand in the global marketplace. The Company's commitment to bringing more beauty into women's lives includes its dedication to breast cancer research through the Vera Bradley Foundation for Breast Cancer. For more information about Vera Bradley (Nasdaq:VRA), visit www.verabradley.com.
About Lifeguard Press
Lifeguard Press is a leading, premier manufacturer of licensed-branded and private-label merchandise, working with world-class lifestyle brands to design, produce, and distribute products including accessories, drinkware, gifts, home décor, outdoor entertaining, tech, travel, and stationery. Licensed partners include Vera Bradley, Kate Spade New York, and Lilly Pulitzer. For more information, please visit www.lifeguardpress.com.
About Fox Chapel Publishing
Fox Chapel Publishing inspires and informs readers who enjoy a wide variety of hobbies, crafts, and lifestyle interests. The company specializes in illustrated nonfiction with a focus on artisan and high-quality craft books. Fox Chapel publishes more than 1,200 book titles and three quarterly magazines, including DO Magazine, the #1 coloring magazine in its class. The publisher’s imprints include Design Originals, IMM Lifestyle Books, and Creative Homeowner. For more information, please visit www.foxchapelpublishing.com.
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 brand; possible inability to successfully implement our growth strategies or manage our growing business; possible inability to successfully open new stores as planned; adverse changes in the cost of raw materials and labor used to manufacture our products; and possible adverse effects resulting from a significant disruption in our single distribution facility. 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 January 30, 2016. We undertake no obligation to publicly update or revise any forward-looking statement. Financial schedules are attached to this release.
CONTACTS: Investors: Julia Bentley, VP of Investor Relations and Communications firstname.lastname@example.org (260) 207-5116 Media: 877-708-VERA (8372)
Source:Vera Bradley Inc