Vera Bradley Announces Licensing Agreements in Stationery and Publishing
September 01 2016 - 8:00AM
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
jbentley@verabradley.com
(260) 207-5116
Media: 877-708-VERA (8372)
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