Fort Wayne based Vera Bradley, Inc. 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.
SOURCE: Vera Bradley