– Limited-edition Vera Bradley + Pura Vida backpack to debut on August 22 –
FORT WAYNE, Ind., Aug. 22, 2019 (GLOBE NEWSWIRE) — Vera Bradley, Inc. (NASDAQ: VRA; “Vera Bradley” or the “Company”), a leading American bag and luggage company and iconic lifestyle brand, and Pura Vida Bracelets (“Pura Vida”), the La Jolla, California-based digitally native jewelry and lifestyle accessories brand, today announced a limited-edition, co-branded Vera Bradley + Pura Vida backpack style that will debut on August 22, 2019.
The two brands partnered together to build the perfect back-to-school backpack using Vera Bradley’s bestselling Iconic Campus Backpack silhouette and a print inspired by the distinctive West Coast vibes of the “Pura Vida lifestyle.” The backpack foregoes Vera Bradley’s traditional quilted cotton and instead features a unique cotton/linen slub yarn fabrication. This collaboration was in the works prior to Vera Bradley’s July 2019 acquisition of a 75% interest in Pura Vida.
Robert Wallstrom, Chief Executive Officer of Vera Bradley, noted, “The acquisition of Pura Vida allows Vera Bradley the opportunity to grow revenues, expand our customer community and diversify our business. We are thrilled to partner with Pura Vida to provide each other invaluable support as we grow our brands together. We think the Vera Bradley + Pura Vida Iconic Campus Backpack collaboration is the perfect way to celebrate our new partnership.”
“We’re excited for the opportunities to come for both Pura Vida and Vera Bradley following the acquisition, and we’re thrilled to kick off this new partnership by offering a co-branded backpack. We feel the limited-edition Iconic Campus Backpack perfectly blends our two brands and we’re confident our combined audiences will love the collaboration,” Pura Vida co-founders Griffin Thall and Paul Goodman said in a joint statement.
The limited-edition Vera Bradley + Pura Vida Iconic Campus Backpack is now available in Vera Bradley stores, on verabradley.com and on PuraVidaBracelets.com. With each purchase of a Vera Bradley + Pura Vida Iconic Campus Backpack, purchasers will receive a complimentary Pura Vida original bracelet.
About Vera Bradley
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.
Vera Bradley offers a multi-channel sales model as well as a focus on service and a high level of customer engagement. The Company sells its products through two reportable segments: Direct and Indirect. The Direct business consists of sales of Vera Bradley products through the Company’s full-line and factory outlet stores throughout the United States, verabradley.com, the Company’s online outlet site, and its annual outlet sale in Fort Wayne, Indiana. The Indirect business consists of sales of Vera Bradley products to approximately 2,200 specialty retail locations, substantially all of which are located in the United States, as well as sales to select department stores, national accounts, third party e-commerce sites, and third-party inventory liquidators, and royalties recognized through licensing agreements.
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 which they have raised over $32 million to date.
In July 2019, Vera Bradley acquired a 75% interest in Creative Genius, Inc., which also operates under the name Pura Vida Bracelets (“Pura Vida”). Pura Vida, based in La Jolla, California, is a rapidly growing, digitally native, and highly engaging lifestyle brand that deeply resonates with its loyal consumer following. The Pura Vida brand has a differentiated and expanding offering of bracelets, jewelry, and other lifestyle accessories.
For more information about Vera Bradley, visit www.verabradley.com or follow the brand @VeraBradley on Twitter and Instagram.
About Pura Vida
Griffin Thall and Paul Goodman, two Southern California friends traveling through Costa Rica on a post-college graduation trip in 2010, crossed paths with two bracelet artisans, Jorge and Joaquin, who were living in poverty. Jorge and Joaquin made beautiful, colorful handmade bracelets that seemed to capture the essence of their journey. Thall and Goodman asked the artisans to make 400 bracelets to take home with them.
Upon returning to San Diego, the pair placed the bracelets in a bowl at a local boutique. Within days, the bracelets sold out and customers were clamoring for more. Thall and Goodman quickly recognized the significance of these simple string bracelets. They were more than just ordinary friendship bracelets; they symbolized a movement valuing the simple things in life. So, Pura Vida, which means “pure life” in Spanish and is a philosophy that encourages the appreciation of life’s simple treasures, was born.
In the early days, the pair were only selling a few bracelets a week. Today, millions of people around the world wear the bracelets, and Pura Vida’s artisan community has expanded from Costa Rica to El Salvador, India, and more. Today, over 650 artisans can depend on steady income in positive working environments, thanks to the support of Pura Vida customers.
Giving back is a core belief at Pura Vida and the impetus for the Pura Vida Charity Collection. Since 2010, Pura Vida has partnered with over 175 different charities around the world and has donated more than $1.9 million to causes they believe in.
Pura Vida has expanded its collection from bracelets to other jewelry items and accessories. The company is headquartered in La Jolla, California. Visit www.PuraVidaBracelets.com for more information or follow the brand @puravidabrac on Twitter or @puravidabracelets on Instagram.
Vera Bradley Investors:
Julia Bentley, VP of Investor Relations and Communications
Vera Bradley Media: