Vera Bradley, Inc. (VRA): Business Model Canvas [Jan-2025 Mise à jour]

Plongez dans le monde dynamique de Vera Bradley, où le design coloré rencontre la mode fonctionnelle, transformant les accessoires quotidiens en déclarations incontournables pour les femmes soucieuses de style. Cette entreprise innovante a magistralement conçu un modèle d'entreprise qui mélange le design créatif, les partenariats stratégiques et le marketing ciblé pour capturer le cœur des amateurs de mode vieillis 25-55. Des sacs à main accrocheurs aux accessoires de voyage polyvalents, Vera Bradley a taillé un créneau unique dans le monde compétitif des accessoires de créateurs, offrant un luxe abordable qui résonne avec des femmes professionnelles, des voyageurs et des amateurs de mode.

Vera Bradley, Inc. (VRA) - Modèle d'entreprise: partenariats clés

Détaillants en gros

Vera Bradley maintient des partenariats stratégiques avec les principaux points de vente au détail:

Détaillant	Détails du partenariat	Contribution du canal de vente
Dillard	Partenaire de distribution en gros	Estimé 12 à 15% de la distribution de détail
Nordstrom	Distribution de la vente au détail premium	Environ 8 à 10% des revenus en gros
Grands magasins	Présence de vente au détail multicanal	Représente 20 à 25% du total des ventes

Partenaires de fabrication

Vera Bradley collabore avec des partenaires manufacturiers en Asie:

• Emplacements de fabrication primaires: Vietnam, Chine
• Estimé 85 à 90% de la fabrication de produits externalisé
• Investissement manufacturier annuel: environ 45 à 50 millions de dollars

Plates-formes de commerce électronique

Plate-forme	Type de partenariat	Contribution des ventes en ligne
Amazone	Marché tiers	15-18% des revenus numériques
Site Web Vera Bradley	Canal direct à consommation	35 à 40% du total des revenus de l'entreprise

Partenariats de conception collaborative

Vera Bradley s'engage dans des collaborations stratégiques de marque:

• Collaboration Disney: Collections en édition limitée
• Produits sous licence NCAA: conceptions spécifiques à l'équipe
• Revenus de conception collaborative annuelle: 12 à 15 millions de dollars

Impact total des revenus de la société de personnes: 65 à 70% des revenus annuels de l'entreprise

Vera Bradley, Inc. (VRA) - Modèle d'entreprise: Activités clés

Conception et développement de sacs à main, de bagages et d'accessoires

Au cours de l'exercice 2023, Vera Bradley a investi 8,1 millions de dollars dans les dépenses de conception et de développement de produits. La société maintient une équipe de conception dédiée de 62 professionnels chargés de créer de nouvelles gammes de produits.

Catégorie de conception	Délaies de produits annuels	Taille de l'équipe de conception
Sacs à main	45-50 nouveaux designs	32 concepteurs
Bagage	15-20 nouveaux designs	12 concepteurs
Accessoires	25-30 nouveaux designs	18 concepteurs

Gestion des ventes au détail et en ligne

Depuis le quatrième trimestre 2023, Vera Bradley exploite 115 magasins de détail et gère une plate-forme de commerce électronique complète. Les ventes en ligne représentaient 38,2% du total des revenus de l'entreprise au cours de l'exercice 2023.

• Total des lieux de vente au détail: 115 magasins
• Revenus de plate-forme de commerce électronique: 167,4 millions de dollars
• Valeur de transaction en ligne moyenne: 124,57 $

Marketing et promotion de la marque

Vera Bradley a alloué 22,3 millions de dollars aux dépenses de marketing au cours de l'exercice 2023. La société tire parti de plusieurs canaux marketing, notamment la publicité numérique, les médias sociaux et les partenariats d'influence.

Canal de marketing	Dépenses annuelles	Atteindre
Publicité numérique	12,5 millions de dollars	4,2 millions d'impressions
Réseaux sociaux	5,8 millions de dollars	1,7 million de followers
Partenariats d'influence	4 millions de dollars	85 partenariats actifs

Gestion et distribution des stocks

Vera Bradley maintient un centre de distribution centralisé à Fort Wayne, Indiana, avec un ratio de roulement des stocks de 2,7 au cours de l'exercice 2023.

• Taille du centre de distribution: 450 000 pieds carrés
• Valeur des stocks annuels: 86,3 millions de dollars
• Ratio de roulement des stocks: 2,7

Extension des lignes de produit et suivi des tendances

Au cours de l'exercice 2023, Vera Bradley a introduit 98 conceptions de nouveaux produits dans ses différentes collections, en mettant l'accent sur les matériaux durables et axés sur les performances.

Gamme de produits	Nouveaux designs	Contribution des revenus
Sacs de performance	22 conceptions	18,5% des revenus totaux
Collections durables	16 conceptions	12,3% des revenus totaux
Collections classiques	60 conceptions	69,2% des revenus totaux

Vera Bradley, Inc. (VRA) - Modèle d'entreprise: Ressources clés

Solide reconnaissance de la marque dans les accessoires pour femmes

Au quatrième trimestre 2023, Vera Bradley a déclaré une valeur de marque d'environ 287 millions de dollars. L'entreprise compte 107 magasins de détail et exploite 1 800 emplacements de vente au détail spécialisés à l'échelle nationale.

Métrique de la marque	2023 données
Évaluation totale de la marque	287 millions de dollars
Nombre de magasins de détail	107 magasins
Emplacements de vente au détail spécialisés	1 800 emplacements

Portfolio de conception de produits diversifiés

Vera Bradley maintient une gamme de produits complète dans plusieurs catégories.

• Sacs à main et bacs
• Accessoires de bagages et de voyage
• Équipement de performance
• Articles de décoration intérieure
• Accessoires et cadeaux

Canaux de distribution de vente au détail et en ligne établis

En 2023, Vera Bradley a généré 511,1 millions de dollars de revenus nets. Les ventes en ligne représentaient 36,8% des revenus totaux.

Canal de vente	Pourcentage de revenus
Magasins de détail directs	63.2%
Plate-forme de commerce électronique	36.8%

Équipe de conception et de gestion expérimentée

En 2024, l'équipe de direction de Vera Bradley comprend 8 cadres supérieurs avec un mandat moyen de 12 ans dans l'entreprise.

Propriété intellectuelle et portefeuille de marques

L'entreprise détient 47 marques enregistrées et maintient une protection active pour ses modèles de conception distinctifs et son identité de marque.

Type de propriété intellectuelle	Compter
Marques enregistrées	47
Modèles de conception uniques	22

Vera Bradley, Inc. (VRA) - Modèle d'entreprise: propositions de valeur

Sacs et accessoires de créateurs élégants et colorés

Vera Bradley a généré 481,4 millions de dollars de revenus nets pour l'exercice 2023. La gamme de produits de la société propose des palettes et des modèles de couleurs distinctifs dans plusieurs catégories de produits.

Catégorie de produits	Contribution des revenus
Sacs à main	37,5% des revenus totaux
Sacs de voyage	22,3% des revenus totaux
Accessoires	18,9% des revenus totaux

Voyages fonctionnels de haute qualité et produits quotidiens

La société maintient une note de qualité des produits de 4,2 / 5 sur la base des avis des clients, en mettant l'accent sur la durabilité et la conception pratique.

• Plage de prix moyen du produit: 50 $ - 250 $
• Composition des matériaux: 100% coton, matériaux recyclés
• Garantie du produit: garantie limitée à 1 an

Modèles uniques et imprimés de signature

Vera Bradley publie environ 12 à 15 nouvelles collections d'impression par an, avec Plus de 300 variations de motifs uniques Depuis la création de l'entreprise.

Biens de consommation de luxe abordables

Positionné dans le segment de luxe accessible avec des marges brutes de 57,2% au cours de l'exercice 2023.

Segment des prix	Prix ​​moyen
Sacs à main	$98-$225
Sacs de voyage	$129-$350
Accessoires	$25-$125

Gamme de produits polyvalents pour différents besoins des clients

Le portefeuille de produits comprend 6 catégories primaires desservant divers segments de consommateurs:

• Sacs à main
• Sacs de voyage
• Bagage
• Accessoires
• Décoration intérieure
• Tenue de performance

Vera Bradley, Inc. (VRA) - Modèle d'entreprise: relations avec les clients

Programme de fidélité et marketing personnalisé

Vera Bradley exploite un Programme de fidélité VB Insider avec les mesures clés suivantes:

• Plus de 1,2 million de membres du programme de fidélité active en 2023
• Les membres reçoivent 5% de cashback sur les achats
• Récompenses d'anniversaire exclusives et accès précoce aux collections

Métrique du programme de fidélité	2023 données
Membres de la fidélité totale	1,200,000
Dépenses moyennes des membres	287 $ par an
Taux d'achat répété	42.6%

Engagement actif des médias sociaux

Plateformes de médias sociaux Statistiques d'engagement:

• Followers Instagram: 526 000
• Fonds Facebook: 672 000
• Taux d'engagement moyen: 3,2%

Communication client direct via le site Web

Métrique de communication du site Web	2023 données
Visiteurs mensuels du site Web	1,4 million
Temps moyen sur place	4,7 minutes
Temps de réponse du chat en direct	2,3 minutes

Expérience client en magasin

Expérience de magasin de détail Expérience de métriques:

• Total des magasins de vente au détail: 86 emplacements
• Taille moyenne du magasin: 2 100 pieds carrés
• Score de satisfaction du client: 4,5 / 5

Mises à jour régulières de la collection de produits

Métrique de mise à jour de la collection	2023 données
Nouvelles collections par an	6-8 collections
SKUS moyens de produits moyens	120 par collection
Taux de rafraîchissement du produit	45% par an

Vera Bradley, Inc. (VRA) - Modèle d'entreprise: canaux

Magasins de détail appartenant à l'entreprise

En 2023, Vera Bradley exploite 108 magasins de détail aux États-Unis.

Type de magasin	Nombre d'emplacements
Magasins de détail appartenant à l'entreprise	108

Plateforme de commerce électronique en ligne

Le canal de vente en ligne direct à consommateur de Vera Bradley génère environ 214,3 millions de dollars de revenus annuels.

• Site Web: www.verabradley.com
• Plate-forme en ligne sensible aux mobiles
• Offre une gamme de produits complète et des collections en ligne exclusives

Partenariats en gros des grands magasins

Le canal de gros contribue 174,2 millions de dollars aux revenus annuels.

Partenaire de gros	Contribution des ventes estimées
Nordstrom	42,6 millions de dollars
Dillard	38,9 millions de dollars
Autres grands magasins	92,7 millions de dollars

Places de marché en ligne tierces

Les canaux de vente supplémentaires comprennent:

• Amazon: 37,5 millions de dollars de ventes annuelles
• Zappos: 12,3 millions de dollars en ventes annuelles
• Walmart.com: 8,7 millions de dollars de ventes annuelles

Ventes de catalogue

Les ventes de catalogues représentent 6,2 millions de dollars de revenus annuels, avec environ 250 000 catalogues distribués trimestriels.

Métrique du catalogue	Valeur
Revenus de catalogue annuel	6,2 millions de dollars
Distribution de catalogue trimestrielle	250,000

Vera Bradley, Inc. (VRA) - Modèle d'entreprise: segments de clientèle

Femmes conscientes de la mode âgées de 25 à 55 ans

Selon le rapport annuel de Vera Bradley en 2023, cette démographie de base représente 62% de sa clientèle totale.

Tranche d'âge	Pourcentage du segment de la clientèle	Dépenses annuelles moyennes
25-35	28%	$345
36-45	22%	$412
46-55	12%	$389

Femmes de travail professionnelles

Les études de marché en 2023 de Vera Bradley indiquent que ce segment représente 24% de sa clientèle.

• Revenu annuel moyen: 85 000 $
• Catégories de produits préférés: sacs d'ordinateur portable, bacs de travail
• Dépenses annuelles pour accessoires professionnels: 520 $

Passionnés de voyage

Les clients axés sur les voyages représentent 15% des segments de clients totaux de Vera Bradley.

Fréquence de voyage	Pourcentage	Dépenses moyennes de sacs de voyage
Fréquent (4+ voyages / an)	8%	$475
Occasionnel (1-3 voyages / an)	7%	$285

Acheteurs de cadeaux

Les acheteurs de cadeaux représentent 18% du total des transactions clients de Vera Bradley.

• Valeur d'achat de cadeau moyen: 175 $
• Saisons d'achat de cadeaux de pointe: vacances (35%), fête des mères (22%)
• Répéter le taux des acheteurs de cadeaux: 42%

Étudiants et jeunes professionnels

Ce segment émergent représente 12% de la clientèle de Vera Bradley.

Tranche d'âge	Dépenses moyennes	Types de produits préférés
18-24	$265	Sacs à dos, sacs à bandoulière
22-30	$385	Bacs, sacs de travail

Vera Bradley, Inc. (VRA) - Modèle d'entreprise: Structure des coûts

Dépenses de conception et de développement des produits

Pour l'exercice 2023, Vera Bradley a déclaré 8,7 millions de dollars de frais de conception et de développement de produits, ce qui représente environ 3,2% de leur chiffre d'affaires total.

Catégorie de dépenses	Montant ($)	Pourcentage de revenus
Salaires de l'équipe de conception	4,500,000	1.6%
Développement de prototypes	2,100,000	0.8%
Technologie et logiciels	2,100,000	0.8%

Coûts de fabrication et de production

Les coûts de fabrication totaux pour Vera Bradley en 2023 étaient de 92,4 millions de dollars.

• Coûts de matériel direct: 52,1 millions de dollars
• Coûts de main-d'œuvre directes: 22,3 millions de dollars
• Fabrication des frais généraux: 18,0 millions de dollars

Investissements marketing et publicitaire

Les dépenses de marketing pour l'exercice 2023 ont totalisé 33,6 millions de dollars, ce qui représente 12,4% des revenus totaux.

Canal de marketing	Dépenses ($)	Pourcentage du budget marketing
Marketing numérique	15,120,000	45%
Publicité sur les réseaux sociaux	6,720,000	20%
Médias traditionnels	5,040,000	15%
Événements promotionnels	6,720,000	20%

Opérations de magasin de détail

Les dépenses d'exploitation des magasins de détail pour 2023 étaient de 78,9 millions de dollars.

• Coûts de loyer et d'occupation des magasins: 24,6 millions de dollars
• Stockage des salaires des employés: 38,4 millions de dollars
• Entretien et services publics de magasin: 15,9 millions de dollars

Dépenses de distribution et de logistique

Les coûts de distribution et de logistique pour l'exercice 2023 s'élevaient à 45,3 millions de dollars.

Catégorie de dépenses logistiques	Montant ($)	Pourcentage du budget de distribution
Opérations de l'entrepôt	13,590,000	30%
Transport et expédition	22,650,000	50%
Gestion des stocks	9,060,000	20%

Vera Bradley, Inc. (VRA) - Modèle d'entreprise: Strots de revenus

Ventes de magasins de détail directs

Depuis l'exercice 2024, Vera Bradley exploite 108 magasins de détail aux États-Unis. Revenus de ventes de magasins de détail directs totaux: 153,6 millions de dollars.

Ventes de commerce électronique en ligne

Performance du canal de vente numérique pour l'exercice 2024:

Canal	Revenu	Pourcentage des ventes totales
Site Web Vera Bradley	98,4 millions de dollars	32.1%
Détaillants en ligne tiers	42,7 millions de dollars	13.9%

Revenus de distribution de gros

Répartition de la distribution de gros pour 2024:

• Revenus totaux en gros: 187,2 millions de dollars
• Les principaux partenaires de gros comprennent:
  • Grands magasins
  • Détaillants spécialisés
  • Marchés en ligne

Accords de licence

Détails des revenus de licence pour 2024:

Catégorie de licence	Revenus annuels
Produits collégiaux sous licence	12,5 millions de dollars
Cadeaux d'entreprise et articles promotionnels	6,8 millions de dollars

Collections saisonnières et en édition limitée

Revenus des collections spéciales en 2024:

• Revenus de collecte de vacances: 27,3 millions de dollars
• Collaborations en édition limitée: 18,6 millions de dollars
• Collections de couleur et de motifs saisonnières: 22,9 millions de dollars

Total des revenus de l'entreprise pour l'exercice 2024: 307,5 ​​millions de dollars

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.