Vera Bradley, Inc. (VRA): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el mundo vibrante de Vera Bradley, donde el diseño colorido cumple con la moda funcional, transformando accesorios cotidianos en declaraciones imprescindibles para mujeres conscientes de estilo. Esta compañía innovadora ha creado magistralmente un modelo de negocio que combina el diseño creativo, las asociaciones estratégicas y el marketing dirigido para capturar los corazones de los entusiastas de la moda. 25-55. Desde bolsos llamativos hasta accesorios de viaje versátiles, Vera Bradley ha forjado un nicho único en el mundo competitivo de accesorios de diseñadores, ofreciendo un lujo asequible que resuena con mujeres profesionales, viajeros y amantes de la moda.

Vera Bradley, Inc. (VRA) - Modelo de negocios: asociaciones clave

Minoristas mayoristas

Vera Bradley mantiene asociaciones estratégicas con los principales puntos de venta minoristas:

Detallista	Detalles de la asociación	Contribución del canal de ventas
Dillard's	Socio de distribución al por mayor	Estimado del 12-15% de la distribución minorista
Nordstrom	Distribución minorista premium	Aproximadamente el 8-10% de los ingresos mayoristas
Grandes almacenes	Presencia minorista multicanal	Representa el 20-25% de las ventas totales

Socios de fabricación

Vera Bradley colabora con socios de fabricación en Asia:

• Ubicaciones de fabricación primaria: Vietnam, China
• Estimado del 85-90% de la fabricación de productos subcontratados
• Inversión de fabricación anual: aproximadamente $ 45-50 millones

Plataformas de comercio electrónico

Plataforma	Tipo de asociación	Contribución de ventas en línea
Amazonas	Mercado de terceros	15-18% de los ingresos digitales
Sitio web de Vera Bradley	Canal directo al consumidor	35-40% de los ingresos totales de la compañía

Asociaciones de diseño colaborativo

Vera Bradley se involucra en colaboraciones estratégicas de marca:

• Colaboración de Disney: colecciones de edición limitada
• Productos con licencia de la NCAA: diseños específicos del equipo
• Ingresos anuales de diseño colaborativo: $ 12-15 millones

Impacto total de ingresos de la asociación: estimado del 65-70% de los ingresos anuales de la compañía

Vera Bradley, Inc. (VRA) - Modelo de negocio: actividades clave

Diseño y desarrollo de bolsos, equipaje y accesorios

En el año fiscal 2023, Vera Bradley invirtió $ 8.1 millones en gastos de diseño y desarrollo de productos. La compañía mantiene un equipo de diseño dedicado de 62 profesionales responsables de crear nuevas líneas de productos.

Categoría de diseño	Lanzamientos anuales de productos	Tamaño del equipo de diseño
Bolsos	45-50 nuevos diseños	32 diseñadores
Equipaje	15-20 nuevos diseños	12 diseñadores
Accesorios	25-30 nuevos diseños	18 diseñadores

Gestión de ventas minoristas y en línea

A partir del cuarto trimestre de 2023, Vera Bradley opera 115 tiendas minoristas y administra una plataforma integral de comercio electrónico. Las ventas en línea representaron el 38.2% de los ingresos totales de la compañía en el año fiscal 2023.

• Ubicaciones minoristas totales: 115 tiendas
• Ingresos de la plataforma de comercio electrónico: $ 167.4 millones
• Valor de transacción en línea promedio: $ 124.57

Marketing y promoción de la marca

Vera Bradley asignó $ 22.3 millones a los gastos de marketing en el año fiscal 2023. La compañía aprovecha múltiples canales de comercialización, incluidas publicidad digital, redes sociales y asociaciones de influencia.

Canal de marketing	Gasto anual	Alcanzar
Publicidad digital	$ 12.5 millones	4.2 millones de impresiones
Redes sociales	$ 5.8 millones	1.7 millones de seguidores
Asociaciones de influencia	$ 4 millones	85 asociaciones activas

Gestión y distribución de inventario

Vera Bradley mantiene un centro de distribución centralizado en Fort Wayne, Indiana, con una relación de rotación de inventario de 2.7 en el año fiscal 2023.

• Tamaño del centro de distribución: 450,000 pies cuadrados
• Valor de inventario anual: $ 86.3 millones
• Relación de rotación de inventario: 2.7

Expansión de la línea de productos y seguimiento de tendencias

En el año fiscal 2023, Vera Bradley introdujo 98 diseños de productos nuevos en sus diversas colecciones, con un enfoque en materiales sostenibles y orientados al rendimiento.

Línea de productos	Nuevos diseños	Contribución de ingresos
Bolsas de rendimiento	22 diseños	18.5% de los ingresos totales
Colecciones sostenibles	16 diseños	12.3% de los ingresos totales
Colecciones clásicas	60 diseños	69.2% de los ingresos totales

Vera Bradley, Inc. (VRA) - Modelo de negocios: recursos clave

Reconocimiento de marca fuerte en accesorios para mujeres

A partir del cuarto trimestre de 2023, Vera Bradley informó un valor de marca de aproximadamente $ 287 millones. La compañía tiene 107 tiendas minoristas y opera a través de 1.800 ubicaciones minoristas especializadas en todo el país.

Métrico de marca	2023 datos
Valoración total de la marca	$ 287 millones
Recuento de tiendas minoristas	107 tiendas
Ubicaciones minoristas especializadas	1.800 ubicaciones

Cartera diversa de diseño de productos

Vera Bradley mantiene una gama de productos integral en múltiples categorías.

• Bolsos y bolsos
• Accesorios para equipos y viajes
• Equipo de rendimiento
• Artículos de decoración de inicio
• Accesorios y regalos

Canales establecidos de distribución minorista y en línea

En 2023, Vera Bradley generó $ 511.1 millones en ingresos netos. Las ventas en línea representaron el 36.8% de los ingresos totales.

Canal de ventas	Porcentaje de ingresos
Tiendas minoristas directas	63.2%
Plataforma de comercio electrónico	36.8%

Equipo experimentado de diseño y gestión

A partir de 2024, el equipo de liderazgo de Vera Bradley incluye 8 ejecutivos senior con una tenencia promedio de 12 años en la compañía.

Propiedad intelectual y cartera de marcas registradas

La compañía posee 47 marcas registradas y mantiene la protección activa para sus patrones de diseño distintivos y su identidad de marca.

Tipo de propiedad intelectual	Contar
Marcas registradas	47
Patrones de diseño únicos	22

Vera Bradley, Inc. (VRA) - Modelo de negocio: propuestas de valor

Bolsos y accesorios de diseñadores elegantes y coloridos

Vera Bradley generó $ 481.4 millones en ingresos netos para el año fiscal 2023. La línea de productos de la compañía presenta paletas y patrones de colores distintivos en múltiples categorías de productos.

Categoría de productos	Contribución de ingresos
Bolsos	37.5% de los ingresos totales
Bolsas de viaje	22.3% de los ingresos totales
Accesorios	18.9% de los ingresos totales

Viajes funcionales y de alta calidad y productos cotidianos

La compañía mantiene una calificación de calidad del producto de 4.2/5 basada en las revisiones de los clientes, con un enfoque en la durabilidad y el diseño práctico.

• Rango promedio de precios del producto: $ 50- $ 250
• Composición de material: 100% de algodón, materiales reciclados
• Garantía del producto: garantía limitada de 1 año

Patrones únicos e impresiones de firma

Vera Bradley libera aproximadamente 12-15 nuevas colecciones de impresión anualmente, con Más de 300 variaciones de patrones únicas Desde el inicio de la empresa.

Bienes de consumo de lujo asequibles

Posicionado en el segmento de lujo accesible con márgenes brutos de 57.2% en el año fiscal 2023.

Segmento de precios	Precio promedio
Bolsos	$98-$225
Bolsas de viaje	$129-$350
Accesorios	$25-$125

Gama de productos versátil para diferentes necesidades de clientes

La cartera de productos incluye 6 categorías principales que atienden a diversos segmentos de consumo:

• Bolsos
• Bolsas de viaje
• Equipaje
• Accesorios
• Decoración del hogar
• Desgaste de rendimiento

Vera Bradley, Inc. (VRA) - Modelo de negocios: relaciones con los clientes

Programa de fidelización y marketing personalizado

Vera Bradley opera un Programa de lealtad de VB Insider Con las siguientes métricas clave:

• Más de 1.2 millones de miembros del programa de fidelización activa a partir de 2023
• Los miembros reciben un 5% de reembolso en compras
• Recompensas de cumpleaños exclusivas y acceso temprano a colecciones

Métrica del programa de fidelización	2023 datos
Miembros de lealtad total	1,200,000
Gasto promedio de miembros	$ 287 anualmente
Repita la tasa de compra	42.6%

Compromiso activo de las redes sociales

Estadísticas de compromiso de plataformas de redes sociales:

• Seguidores de Instagram: 526,000
• Seguidores de Facebook: 672,000
• Tasa de compromiso promedio: 3.2%

Comunicación directa al cliente a través del sitio web

Métrica de comunicación del sitio web	2023 datos
Visitantes mensuales del sitio web	1.4 millones
Tiempo promedio en el sitio	4.7 minutos
Tiempo de respuesta al chat en vivo	2.3 minutos

Experiencia del cliente en la tienda

Métricas de experiencia en la tienda minorista:

• Total de tiendas minoristas: 86 ubicaciones
• Tamaño promedio de la tienda: 2,100 pies cuadrados
• Puntuación de satisfacción del cliente: 4.5/5

Actualizaciones regulares de la colección de productos

Métrica de actualización de la colección	2023 datos
Nuevas colecciones por año	6-8 colecciones
Skus promedio de nuevos productos	120 por colección
Tasa de actualización del producto	45% anual

Vera Bradley, Inc. (VRA) - Modelo de negocios: canales

Tiendas minoristas propiedad de la empresa

A partir de 2023, Vera Bradley opera 108 tiendas minoristas en los Estados Unidos.

Tipo de tienda	Número de ubicaciones
Tiendas minoristas propiedad de la empresa	108

Plataforma de comercio electrónico en línea

El canal de ventas en línea directo al consumidor de Vera Bradley genera aproximadamente $ 214.3 millones en ingresos anuales.

• Sitio web: www.verabradley.com
• Plataforma en línea que responde a dispositivos móviles
• Ofrece una gama completa de productos y colecciones exclusivas en línea

Asociaciones al por mayor de grandes almacenes

El canal mayorista contribuye con $ 174.2 millones a los ingresos anuales.

Socio al por mayor	Contribución de ventas estimada
Nordstrom	$ 42.6 millones
Dillard's	$ 38.9 millones
Otros grandes almacenes	$ 92.7 millones

Mercados de terceros en línea

Los canales de ventas adicionales incluyen:

• Amazon: $ 37.5 millones en ventas anuales
• Zappos: $ 12.3 millones en ventas anuales
• Walmart.com: $ 8.7 millones en ventas anuales

Ventas de catálogo

Las ventas de catálogo representan $ 6.2 millones en ingresos anuales, con aproximadamente 250,000 catálogos distribuidos trimestralmente.

Métrico de catálogo	Valor
Ingresos anuales de catálogo	$ 6.2 millones
Distribución de catálogo trimestral	250,000

Vera Bradley, Inc. (VRA) - Modelo de negocios: segmentos de clientes

Mujeres conscientes de la moda de 25 a 55 años

Según el informe anual 2023 de Vera Bradley, este grupo demográfico central representa el 62% de su base total de clientes.

Rango de edad	Porcentaje del segmento de clientes	Gasto anual promedio
25-35	28%	$345
36-45	22%	$412
46-55	12%	$389

Mujeres trabajadoras profesionales

La investigación de mercado 2023 de Vera Bradley indica que este segmento comprende el 24% de su base de clientes.

• Ingresos anuales promedio: $ 85,000
• Categorías de productos preferidos: bolsas para computadoras portátiles, bolsas de trabajo
• Gasto anual en accesorios profesionales: $ 520

Entusiastas de los viajes

Los clientes centrados en viajes representan el 15% de los segmentos totales de clientes de Vera Bradley.

Frecuencia de viaje	Porcentaje	Gasto promedio de la bolsa de viaje
Frecuente (más de 4 viajes/año)	8%	$475
Ocasional (1-3 viajes/año)	7%	$285

Compradores de regalos

Los compradores de regalos representan el 18% de las transacciones totales de los clientes de Vera Bradley.

• Valor promedio de compra de regalo: $ 175
• Temporadas de compras de regalos máximos: vacaciones (35%), Día de la Madre (22%)
• Repita la tarifa del comprador de regalos: 42%

Estudiantes universitarios y profesionales jóvenes

Este segmento emergente representa el 12% de la base de clientes de Vera Bradley.

Rango de edad	Gasto promedio	Tipos de productos preferidos
18-24	$265	Mochilas, bolsas de cuerpo cruzado
22-30	$385	Bolsas, bolsas de trabajo

Vera Bradley, Inc. (VRA) - Modelo de negocio: Estructura de costos

Gastos de diseño y desarrollo de productos

Para el año fiscal 2023, Vera Bradley reportó $ 8.7 millones en gastos de diseño y desarrollo de productos, lo que representa aproximadamente el 3.2% de sus ingresos totales.

Categoría de gastos	Monto ($)	Porcentaje de ingresos
SALARIOS DE EQUIPO DE DESEJO	4,500,000	1.6%
Desarrollo prototipo	2,100,000	0.8%
Tecnología y software	2,100,000	0.8%

Costos de fabricación y producción

Los costos totales de fabricación para Vera Bradley en 2023 fueron de $ 92.4 millones.

• Costos de material directo: $ 52.1 millones
• Costos laborales directos: $ 22.3 millones
• Sobrecoss de fabricación: $ 18.0 millones

Inversiones de marketing y publicidad

Los gastos de marketing para el año fiscal 2023 totalizaron $ 33.6 millones, lo que representa el 12.4% de los ingresos totales.

Canal de marketing	Gasto ($)	Porcentaje del presupuesto de marketing
Marketing digital	15,120,000	45%
Publicidad en las redes sociales	6,720,000	20%
Medios tradicionales	5,040,000	15%
Eventos promocionales	6,720,000	20%

Operaciones de tiendas minoristas

Los gastos operativos de la tienda minorista para 2023 fueron de $ 78.9 millones.

• Costos de alquiler y ocupación de la tienda: $ 24.6 millones
• Sale los salarios de los empleados: $ 38.4 millones
• Mantenimiento de la tienda y servicios públicos: $ 15.9 millones

Gastos de distribución y logística

Los costos de distribución y logística para el año fiscal 2023 ascendieron a $ 45.3 millones.

Categoría de gastos logísticos	Monto ($)	Porcentaje del presupuesto de distribución
Operaciones de almacén	13,590,000	30%
Transporte y envío	22,650,000	50%
Gestión de inventario	9,060,000	20%

Vera Bradley, Inc. (VRA) - Modelo de negocios: flujos de ingresos

Ventas directas de tiendas minoristas

A partir del año fiscal 2024, Vera Bradley opera 108 tiendas minoristas en los Estados Unidos. Ingresos de ventas de Total Direct Retail Store: $ 153.6 millones.

Ventas de comercio electrónico en línea

Rendimiento del canal de ventas digitales para el año fiscal 2024:

Canal	Ganancia	Porcentaje de ventas totales
Sitio web de Vera Bradley	$ 98.4 millones	32.1%
Minoristas en línea de terceros	$ 42.7 millones	13.9%

Ingresos de distribución al por mayor

Desglose de distribución al por mayor para 2024:

• Ingresos mayoristas totales: $ 187.2 millones
• Los principales socios mayoristas incluyen:
  • Grandes almacenes
  • Minoristas especializados
  • Mercados en línea

Acuerdos de licencia

Detalles de ingresos de licencia para 2024:

Categoría de licencias	Ingresos anuales
Productos con licencia universitaria	$ 12.5 millones
Artículos de donación corporativa y promoción	$ 6.8 millones

Colecciones de edición estacional y limitada

Ingresos de colecciones especiales en 2024:

• Ingresos de la recolección de vacaciones: $ 27.3 millones
• Colaboraciones de edición limitada: $ 18.6 millones
• Colecciones de color y patrones de temporada: $ 22.9 millones

Ingresos totales de la compañía para el año fiscal 2024: $ 307.5 millones

Vera Bradley, Inc. (VRA) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Vera Bradley, Inc. over the competition, especially as the company works through its transformation under Project Restoration. The value proposition is built on a specific blend of aesthetics, utility, and emotional resonance, which management is actively trying to sharpen.

Distinctive, colorful, and functional products that inspire joy.

The brand's foundation is its unique aesthetic. You see evidence of this in the customer response to specific product drops. For instance, during the second quarter of fiscal year 2026, licensed collaborations, including the Disney, Peanuts, and Gilmore Girls capsule, saw standout success, with some releases selling out in minutes. This suggests that when the design hits the right emotional note, the product moves fast. Functionality remains key; the products are known for organizational compartments suitable for everyday use or travel. The company is actively reintroducing icons, like the hero heritage re-issue of the original 100 Bag, just in time for the holiday gifting season, signaling a return to proven designs.

The execution of this value proposition is reflected in the channel performance, even amidst overall sales pressure. Here's a look at the Vera Bradley Direct segment, which is where the brand controls the customer experience most directly:

Metric	Reporting Period	Amount/Rate
Vera Bradley Direct Segment Revenues	Fiscal Year 2025	$257.6 million
Vera Bradley Direct Segment Operating Margin (GAAP)	Fiscal Year 2025	9.8%
Comparable Sales Decline (Vera Bradley Direct)	Fiscal Year 2025	16.6%
Q2 FY2026 Direct Segment Revenues	Q2 FY2026	$60.5 million

A blend of heritage prints and new, modern, elevated materials.

Vera Bradley, Inc. is balancing its past with its future. The core customer base, historically affluent women aged 35-54, is being targeted alongside younger buyers through this material and design shift. Management noted seeing strong customer response to heritage prints and continued success in their elevated product offerings in late 2024. The strategy involves expanding heritage products while simultaneously reducing the assortment in higher price points and bringing back classic styles. The assortment is aiming to be more balanced across fabrications, silhouettes and prints.

Affordable luxury and giftable price points for accessories.

The brand positions itself as accessible luxury, a concept supported by the Pura Vida brand's positioning as a casual, comfortable, affordable, and fun brand. For the core Vera Bradley brand, the focus is on key giftable price point products, which saw a strong response late in 2024. This is critical because discretionary spending is volatile, and the company's mid-range price points ($80-$400) are sensitive to economic swings. The company is actively managing promotions to support this value perception; for example, they executed strategic promotional adjustments in Q3 2024.

Emotional connection and community focus with a multi-generational female base.

This is perhaps the most durable part of the value proposition. Both the Vera Bradley and the now-divested Pura Vida brands shared a focus on community, charity, and social consciousness. The transformation strategy specifically aims to re-engage this loyal base by leveraging the brand's proven emotional connection with consumers. This connection spans a multi-generational female base. The company is using data-driven consumer insights to ensure its marketing and product strategy reinforces this bond.

The company's financial structure is designed to support this long-term focus; they maintained no debt and approximately $89 million of liquidity as of the end of Fiscal 2025, and had $86 million in liquidity with no debt as of Q1 2026. This financial buffer buys time for the transformation strategy to fully resonate with the customer base.

Finance: review the impact of the FY 2026 $20 million annual cost efficiency initiative on SG&A projections by next Tuesday.

Vera Bradley, Inc. (VRA) - Canvas Business Model: Customer Relationships

You're looking at how Vera Bradley, Inc. connects with and keeps its customers coming back, especially as they push through a major brand revitalization. The focus here is on blending personalized experiences with scalable digital reach.

High-touch, personalized service in full-line retail stores

The in-store experience remains a key differentiator, aiming for that high-touch feel. While the company is refining its physical footprint, the service level in the remaining locations is critical to maintaining brand equity. As of the second quarter of fiscal year 2026, Vera Bradley, Inc. had closed a net of seven underperforming full-line stores and one underperforming outlet store in the preceding three months, indicating a focus on optimizing the fleet for higher-quality interactions. This refinement supports a strategy to enhance the customer experience in the highest-potential locations.

The company's segment reporting shows the VB Direct segment, which includes full-line and outlet stores, generated net revenues of $60.5 million in the second quarter of fiscal year 2026, with comparable sales declining 17.3% in that period.

Loyalty programs to re-engage and retain the core customer base

Re-engaging the loyal customer base is a stated strategic priority for Vera Bradley, Inc.. While specific 2025 loyalty program metrics like active member count or retention rate aren't public, the strategy is clearly centered on driving repeat business through personalized outreach, similar to industry leaders where over 95% of sales tie back to the rewards program. The company's overall strategy involves leveraging brand DNA to drive sustainable growth, which relies heavily on retaining established patrons.

Targeted digital marketing and social media engagement

Digital channels are seeing significant investment to capture new and younger audiences. The recent 'Don't Forget to Have Fun' campaign proved effective, driving a 23% increase in new customers on vb.com within just six weeks of its launch, as reported in the second quarter of fiscal year 2026. Furthermore, the brand has seen success with highly targeted product drops; for instance, a Gilmore Girls capsule collection sold out in only 5 minutes.

The brand's social media presence is also a focus, with management noting significant increases in Instagram and TikTok followers due to this campaign. Historically, videos tagged with "#VeraBradley" reached 105 million views.

Direct mailers to a targeted customer mailing list

Direct mailers target the established, high-value customer base. Historically, as of fiscal year 2021, Vera Bradley, Inc. had captured approximately 6.4 million active customer e-mail addresses, which included demographic data used for better targeting. This large, segmented file forms the foundation for direct marketing efforts, complementing the digital spend.

Here's a snapshot of the quantitative elements influencing these relationships:

Metric Category	Specific Data Point	Value/Amount	Reporting Period/Context
Digital Acquisition Success	New Customers on vb.com Increase	23%	Within six weeks of 'Don't Forget to Have Fun' campaign launch (Q2 FY2026)
Product Scarcity Success	Sell-out Time for Licensed Capsule	5 minutes	Gilmore Girls capsule (Q2 FY2026)
Direct Marketing Base (Historical)	Active Customer E-mail Addresses	6.4 million	Fiscal Year 2021 data, basis for targeting
Retail Footprint Refinement	Full-line Stores Closed (Q2 FY2026)	7	Second Quarter Fiscal Year 2026
VB Direct Channel Revenue	Segment Net Revenues	$60.5 million	Second Quarter Fiscal Year 2026

The company uses these channels to maintain connection, which is vital given the recent revenue pressures. For instance, consolidated net revenues for the second quarter of fiscal year 2026 were $70.9 million, down from $94.0 million in the prior year second quarter.

The focus on digital engagement is also seen in the historical channel mix for customer service interactions (from 2022 data, showing channel importance):

• Calls accounted for 33 percent of interactions.
• Email accounted for 24 percent of interactions.
• Chat accounted for 23 percent of interactions.
• Social media accounted for 5 percent of interactions.

Finance: draft 13-week cash view by Friday.

Vera Bradley, Inc. (VRA) - Canvas Business Model: Channels

You're looking at how Vera Bradley, Inc. gets its products into customers' hands as of late 2025. The company relies on a dual approach: selling directly to the consumer and moving product through wholesale partners. This mix is actively being refined under the ongoing transformation efforts.

The Vera Bradley Direct channel, which encompasses owned retail locations and digital properties, was the primary revenue driver for Fiscal Year 2025, contributing $257.6 million, representing about 69% of the total consolidated net revenues of $372.0 million for that year. However, this channel saw significant contraction in the most recent reported period.

VB Direct: E-commerce platforms (verabradley.com, outlet.verabradley.com)

The primary e-commerce site, verabradley.com, is a critical component of the Direct segment. While annual sales on the online store were reported at $148M in 2024, the outlook for 2025 projected a decline of 5-10%. The digital channel experienced softness along with physical stores; comparable sales for the Direct segment dropped 17.3% in the second quarter of Fiscal Year 2026.

Here are some recent digital performance indicators from October 2025:

Metric	Value
Online Sales Revenue (October 2025)	$8,669,793
Conversion Rate (October 2025)	5.00-5.50%
Average Order Value (AOV) (October 2025)	$100-$125
Revenue Share from Mobile Devices (October 2025)	51%

A focus on marketing efficiency amidst a higher cost environment reduced e-commerce performance in prior periods, so you'll want to watch how the new assortment strategy impacts these digital conversion rates going forward.

VB Direct: Company-owned Full-Line and Outlet retail stores

The physical footprint is undergoing optimization. As of the second quarter of Fiscal Year 2026 reporting, Vera Bradley, Inc. operated 39 full-line stores and 87 outlet shops under the Vera Bradley brand. The company has been actively pruning underperforming locations.

Recent retail footprint adjustments include:

• Closed seven underperforming full-line stores and one underperforming outlet store during the second quarter of Fiscal Year 2026.
• Permanently closed five full-line stores and opened one outlet store during the fourth quarter of Fiscal Year 2025.
• Closed 10 unprofitable full-line stores in 2024.

The revenue for the entire Direct segment in Q2 FY2026 was $60.5 million, marking a 16.2% decrease from $72.2 million in the prior year's second quarter. Comparable sales, which track established stores and the main website, fell 17.3% in that same quarter.

VB Indirect: Specialty retailers, department stores, and national accounts

The Indirect segment represents wholesale distribution. This channel saw a sharp decline in the second quarter of Fiscal Year 2026, with revenues falling 52.5% to $10.3 million from $21.8 million in the prior year's second quarter. Management cited a drop in orders from key wholesale accounts and reduced liquidation sales as the primary drivers.

The breadth of this channel is substantial, covering approximately 1,100 specialty retail locations throughout the United States, alongside select department stores and national accounts. For the full Fiscal Year 2025, Indirect segment revenues were $61.2 million, down 17.1% from the prior year.

Licensing and third-party e-commerce sites

While not always broken out as a standalone revenue line in the primary segment reporting, the definition of the Indirect business explicitly includes sales to third-party e-commerce sites and royalties recognized through licensing agreements related to the Vera Bradley brand. The decline in the overall Indirect segment revenue suggests that third-party e-commerce sales and wholesale partners were under pressure in the first half of Fiscal Year 2026. Finance: draft 13-week cash view by Friday.

Vera Bradley, Inc. (VRA) - Canvas Business Model: Customer Segments

You're looking at the customer base for Vera Bradley, Inc. as of late 2025, which is heavily focused on refining the core brand positioning following the strategic sale of the Pura Vida segment on March 31, 2025. The Company still operates with two reportable segments: Vera Bradley Direct ("VB Direct") and Vera Bradley Indirect ("VB Indirect").

The overall customer base for the Vera Bradley brand is characterized by being devoted, emotionally-connected, and multi-generational female consumers. The Company views itself as a "gifting" and socially-connected brand.

• Core: Affluent women aged 35-54 seeking functional, stylish accessories.
• Loyalists: Multi-generational customers devoted to heritage prints and classic styles.
• New/Targeted: Younger and higher-income household consumers.
• Gifting customers: Buyers seeking socially-connected and affordable gifts.

The strategic initiative, Project Restoration, has focused on adjusting the assortment to better align with consumer feedback, which has included expanding heritage products and bringing back classic styles.

Customer Focus Area	Relevant Business Segment Context	Fiscal 2025 Net Revenues (Vera Bradley Brand)
Core & Loyalists (Heritage/Classic Focus)	VB Direct (Full-Line Stores, Outlets, Websites)	$257.6 million
New/Targeted & Gifting Customers	VB Indirect (Specialty Retailers, Key Accounts)	$61.2 million
Overall Vera Bradley Brand Performance Context	Consolidated VB Direct & Indirect (Total)	$318.8 million

The pursuit of the New/Targeted segment-younger and higher-income household consumers-was a stated goal, with management noting in late 2024 that they were seeing a broadening of reach in this area. The Core customer, seeking functional and stylish items, is being targeted through product adjustments, including a successful launch of elevated product offerings, solids, trend-right colors, and prints during the second quarter of Fiscal 2025.

For the Loyalists, the response to heritage prints has been strong, indicating this segment remains responsive to the brand's DNA. The Company also noted seeing strong customer response to key giftable price point products, which directly speaks to the Gifting customers segment. The Fiscal 2025 consolidated net revenues for the entire enterprise (including the now-divested Pura Vida) totaled $372.0 million.

Here's a quick look at the revenue contribution from the two primary Vera Bradley segments in Fiscal 2025:

• Vera Bradley Direct segment revenues: $257.6 million
• Vera Bradley Indirect segment revenues: $61.2 million
• Fiscal 2025 consolidated net revenues (Vera Bradley only, based on sum of segments): $318.8 million

The Company is projecting consolidated net revenues of approximately $280 million for Fiscal 2026, excluding Pura Vida, showing a near-term expectation for a smaller revenue base as the transformation continues.

Vera Bradley, Inc. (VRA) - Canvas Business Model: Cost Structure

The Cost Structure for Vera Bradley, Inc. is heavily weighted toward the cost of the product itself and the expenses associated with getting that product into the hands of the customer, both through direct retail channels and wholesale partners. You're looking at a cost base that reflects a significant transformation effort, Project Restoration, aimed at right-sizing the cost structure for the current revenue base.

Cost of Goods Sold (COGS) for Product Manufacturing and Inbound Freight

The cost to produce and deliver inventory is a primary driver. For the full Fiscal Year 2025, which ended February 1, 2025, the consolidated gross profit was reported at $187.8 million on net revenues of $372.0 million. This implies a derived Cost of Goods Sold (COGS) for the full fiscal year of approximately $184.2 million ($372.0 million revenue minus $187.8 million gross profit). The company noted that the Fiscal 2025 gross profit rate of 50.3% (excluding the Pura Vida segment) benefited from product margin improvements and lower supply chain costs, though this was partially offset by increased shipping costs.

Selling, General & Administrative (SG&A) Expenses

SG&A represents the overhead required to run the business, from corporate salaries to running the website. For the Trailing Twelve Months (TTM) period ending March 2025, the General & Administrative costs, which form a large component of SG&A, were reported at $165.8 million, representing 66% of total expenses for that period. For the full Fiscal Year 2025, consolidated SG&A expense totaled $223.8 million, which was a decrease from $241.5 million in Fiscal 2024, driven by cost reduction initiatives.

The breakdown of these expenses includes several key areas:

• The full Fiscal Year 2025 SG&A expense related to Vera Bradley and corporate unallocated was $186.9 million.
• Non-GAAP consolidated SG&A for the full Fiscal Year 2025 was $213.4 million.
• The TTM period ending September 2024 (Q3 FY2025) saw non-GAAP SG&A of $155.6 million.

Retail Store Operating Costs (Rent, Utilities, Payroll)

Operating the Vera Bradley Direct channel involves significant fixed and variable store costs. Historically, cash needs included funding for payroll and store rent. Staffing costs, which include payroll, are a major monthly expense for retailers generally, often accounting for around 15% to 25% of total revenue.

The cost structure for the Direct segment includes:

Cost Component	Cost Driver/Context
Rent/Lease Payments	Highest fixed cost; subject to escalating rent provisions in many lease agreements.
Utilities	Essential operating expense for physical locations.
Payroll	Salaries for sales associates and store managers; generally a significant percentage of revenue.

Marketing and Digital Customer Acquisition Costs

Costs to acquire customers, especially digitally, are a variable but critical part of the SG&A structure. Reductions in variable expenses, including marketing, contributed to lower SG&A in some prior periods. The Pura Vida segment specifically faced headwinds from elevated e-commerce acquisition costs.

For context in the competitive eCommerce space, average Customer Acquisition Cost (CAC) for the Fashion & Apparel category was estimated around ~$66 per customer in 2025, driven by spend on visual platforms and influencers. Vera Bradley, Inc. is focused on using data analytics to optimize campaigns and cut unnecessary spending to lower its CAC.

Inventory Holding Costs

Holding inventory incurs costs related to storage, insurance, and obsolescence risk. While specific holding costs aren't itemized, the inventory balance itself is a key balance sheet item impacting working capital and potential write-downs. The prompt specifies the inventory level at the end of FY2025, though recent reported figures show variation:

• Inventory as specified for FY2025 end: $110.0 million.
• Inventory at the end of Q3 Fiscal Year 2025 (November 2, 2024): $131.3 million.
• Inventory at the end of Q1 Fiscal Year 2026 (March 31, 2025): $99.2 million.

The decrease in gross profit margin for the nine months ending November 2024 was partly attributed to inventory adjustments related to excess inventory in the now-divested Pura Vida segment.

Finance: draft 13-week cash view by Friday.

Vera Bradley, Inc. (VRA) - Canvas Business Model: Revenue Streams

You're looking at the core ways Vera Bradley, Inc. brings in cash as of late 2025, based on the Fiscal 2025 results. It's clear the company relies heavily on its own channels, though the wholesale side still plays a role.

The primary revenue generation is split between two major segments for the Vera Bradley brand itself, with the total consolidated net revenues for Fiscal 2025 being $372.0 million.

Here's a look at the key revenue streams for the Vera Bradley brand component of the business for the fiscal year ending February 1, 2025:

Revenue Stream Category	Fiscal 2025 Amount (Millions USD)	Segment Association
VB Direct Sales (Company-Owned Stores & E-commerce)	$257.6	VB Direct
VB Indirect Sales (Specialty Retailers & Wholesale)	$61.2	VB Indirect

The VB Direct segment captures sales through owned physical locations and online properties. The VB Indirect segment handles the brand's presence outside its direct control. To be fair, the reported figures for these two streams total $318.8 million, which aligns with the consolidated net revenues excluding the Pura Vida segment for Fiscal 2025.

The composition of these streams involves several specific activities:

• VB Direct sales from company-owned stores and e-commerce totaled $257.6 million in Fiscal 2025.
• VB Indirect sales to specialty retailers and wholesale accounts totaled $61.2 million in Fiscal 2025.
• Licensing royalties from brand collaborations are recognized within the VB Indirect segment.
• Outlet store sales, which focus on clearance and off-price merchandise, are included within the VB Direct segment's total.

You should note that the VB Indirect business also includes sales to select department stores, national accounts, third-party e-commerce sites, and third-party inventory liquidators, plus those licensing royalties you mentioned. The VB Direct business explicitly includes sales from Full-Line stores, Outlet stores, the main Vera Bradley websites, and the annual outlet sale event in Fort Wayne, Indiana.