Vera Bradley, Inc. (VRA): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no mundo vibrante de Vera Bradley, onde o design colorido atende à moda funcional, transformando acessórios diários em declarações obrigatórias para mulheres preocupadas com o estilo. Esta empresa inovadora criou com maestria um modelo de negócios que combina design criativo, parcerias estratégicas e marketing direcionado para capturar o coração dos entusiastas da moda envelhecidos 25-55. De bolsas atraentes a acessórios de viagens versáteis, Vera Bradley criou um nicho único no mundo competitivo dos acessórios de grife, oferecendo luxo acessível que ressoa com mulheres profissionais, viajantes e amantes da moda.

Vera Bradley, Inc. (VRA) - Modelo de negócios: Parcerias -chave

Varejistas atacadistas

Vera Bradley mantém parcerias estratégicas com os principais pontos de venda:

Varejista	Detalhes da parceria	Contribuição do canal de vendas
Dillard's	Parceiro de distribuição por atacado	Estimado 12-15% da distribuição de varejo
Nordstrom	Distribuição de varejo premium	Aproximadamente 8 a 10% da receita no atacado
Lojas de departamento	Presença de varejo multicanal	Representa 20-25% do total de vendas

Parceiros de fabricação

Vera Bradley colabora com parceiros de fabricação na Ásia:

• Locais de fabricação primária: Vietnã, China
• Estimado 85-90% da fabricação de produtos terceirizados
• Investimento anual de fabricação: aproximadamente US $ 45-50 milhões

Plataformas de comércio eletrônico

Plataforma	Tipo de parceria	Contribuição de vendas on -line
Amazon	Mercado de terceiros	15-18% da receita digital
Site de Vera Bradley	Canal direto ao consumidor	35-40% da receita total da empresa

Parcerias de design colaborativo

Vera Bradley se envolve em colaborações estratégicas de marcas:

• Disney Collaboration: Coleções de edição limitada
• Produtos licenciados da NCAA: designs específicos da equipe
• Receita anual de projeto colaborativo: US $ 12-15 milhões

Impacto de receita de parceria total: estimado 65-70% da receita anual da empresa

Vera Bradley, Inc. (VRA) - Modelo de negócios: Atividades -chave

Projeto e desenvolvimento de bolsas, bagagem e acessórios

No ano fiscal de 2023, Vera Bradley investiu US $ 8,1 milhões em despesas de projeto e desenvolvimento de produtos. A empresa mantém uma equipe de design dedicada de 62 profissionais responsáveis ​​pela criação de novas linhas de produtos.

Categoria de design	Lançamentos anuais de produtos	Tamanho da equipe de design
Bolsas	45-50 novos designs	32 designers
Bagagem	15-20 novos designs	12 designers
Acessórios	25-30 novos designs	18 designers

Gerenciamento de vendas on -line e de varejo

No quarto trimestre 2023, Vera Bradley opera 115 lojas de varejo e gerencia uma plataforma abrangente de comércio eletrônico. As vendas on -line representaram 38,2% da receita total da empresa no ano fiscal de 2023.

• Total de local de varejo: 115 lojas
• Receita da plataforma de comércio eletrônico: US $ 167,4 milhões
• Valor médio da transação online: $ 124,57

Marketing e promoção de marca

Vera Bradley alocou US $ 22,3 milhões às despesas de marketing no ano fiscal de 2023. A empresa aproveita vários canais de marketing, incluindo publicidade digital, mídia social e parcerias de influenciadores.

Canal de marketing	Gasto anual	Alcançar
Publicidade digital	US $ 12,5 milhões	4,2 milhões de impressões
Mídia social	US $ 5,8 milhões	1,7 milhão de seguidores
Parcerias de influenciadores	US $ 4 milhões	85 parcerias ativas

Gerenciamento e distribuição de inventário

Vera Bradley mantém um centro de distribuição centralizado em Fort Wayne, Indiana, com uma taxa de rotatividade de inventário de 2,7 no ano fiscal de 2023.

• Tamanho do centro de distribuição: 450.000 pés quadrados
• Valor anual de inventário: US $ 86,3 milhões
• Taxa de rotatividade de inventário: 2.7

Expansão da linha de produtos e rastreamento de tendências

No ano fiscal de 2023, Vera Bradley introduziu 98 novos designs de produtos em suas várias coleções, com foco em materiais sustentáveis ​​e orientados para o desempenho.

Linha de produtos	Novos designs	Contribuição da receita
Sacos de desempenho	22 projetos	18,5% da receita total
Coleções sustentáveis	16 projetos	12,3% da receita total
Coleções clássicas	60 projetos	69,2% da receita total

Vera Bradley, Inc. (VRA) - Modelo de negócios: Recursos -chave

Forte reconhecimento de marca nos acessórios femininos

A partir do quarto trimestre de 2023, Vera Bradley registrou um valor de marca de aproximadamente US $ 287 milhões. A empresa possui 107 lojas de varejo e opera através de 1.800 locais de varejo especializados em todo o país.

Métrica da marca	2023 dados
Avaliação total da marca	US $ 287 milhões
Contagem de lojas de varejo	107 lojas
Locais de varejo especializados	1.800 locais

Portfólio de design de produtos diversificado

Vera Bradley mantém uma gama abrangente de produtos em várias categorias.

• Bolsas e bolsas
• Bagagem e acessórios de viagem
• Equipamento de desempenho
• Itens de decoração da casa
• Acessórios e presentes

Canais estabelecidos de varejo e distribuição on -line

Em 2023, Vera Bradley gerou US $ 511,1 milhões em receitas líquidas. As vendas on -line representaram 36,8% da receita total.

Canal de vendas	Porcentagem de receita
Lojas de varejo diretas	63.2%
Plataforma de comércio eletrônico	36.8%

Equipe experiente de design e gerenciamento

Em 2024, a equipe de liderança de Vera Bradley inclui 8 executivos seniores com um mandato médio de 12 anos na empresa.

Propriedade intelectual e portfólio de marcas comerciais

A empresa possui 47 marcas registradas e mantém a proteção ativa por seus padrões de design distintos e identidade da marca.

Tipo de propriedade intelectual	Contar
Marcas registradas	47
Padrões de design exclusivos	22

Vera Bradley, Inc. (VRA) - Modelo de negócios: proposições de valor

Bolsas e acessórios elegantes e coloridos

Vera Bradley gerou US $ 481,4 milhões em receitas líquidas para o ano fiscal de 2023. A linha de produtos da empresa apresenta paletas e padrões de cores distintos em várias categorias de produtos.

Categoria de produto	Contribuição da receita
Bolsas	37,5% da receita total
Sacos de viagem	22,3% da receita total
Acessórios	18,9% da receita total

Viagens funcionais e de alta qualidade e produtos cotidianos

A empresa mantém uma classificação de qualidade do produto de 4.2/5 com base nas análises de clientes, com foco na durabilidade e no design prático.

• Faixa média do preço do produto: US $ 50- $ 250
• Composição do material: 100% algodão, materiais reciclados
• Garantia do produto: garantia limitada de 1 ano

Padrões exclusivos e impressões de assinatura

Vera Bradley lança aproximadamente 12 a 15 novas coleções de impressão anualmente, com Mais de 300 variações de padrão exclusivas Desde o início da empresa.

Bens de consumo de luxo acessíveis

Posicionado no segmento de luxo acessível com margens brutas de 57,2% no ano fiscal de 2023.

Segmento de preços	Preço médio
Bolsas	$98-$225
Sacos de viagem	$129-$350
Acessórios	$25-$125

Faixa de produtos versáteis para diferentes necessidades de clientes

O portfólio de produtos inclui 6 categorias principais que servem diversos segmentos de consumidores:

• Bolsas
• Sacos de viagem
• Bagagem
• Acessórios
• Decoração da casa
• Desgaste do desempenho

Vera Bradley, Inc. (VRA) - Modelo de Negócios: Relacionamentos do Cliente

Programa de fidelidade e marketing personalizado

Vera Bradley opera um Programa de fidelidade VB Insider Com as seguintes métricas principais:

• Mais de 1,2 milhão de membros do programa de fidelidade ativa a partir de 2023
• Os membros recebem 5% de reembolso nas compras
• Recompensas de aniversário exclusivas e acesso antecipado a coleções

Métrica do Programa de Fidelidade	2023 dados
Membros totais de lealdade	1,200,000
Gasto médio de membros	US $ 287 anualmente
Repita a taxa de compra	42.6%

Engajamento ativo da mídia social

Estatísticas de engajamento de plataformas de mídia social:

• Seguidores do Instagram: 526.000
• Seguidores do Facebook: 672.000
• Taxa média de envolvimento: 3,2%

Comunicação direta do cliente através do site

Métrica de comunicação do site	2023 dados
Visitantes mensais do site	1,4 milhão
Tempo médio no local	4,7 minutos
Tempo de resposta ao vivo de bate -papo	2,3 minutos

Experiência no cliente na loja

Métricas de experiência em lojas de varejo:

• Total de lojas de varejo: 86 locais
• Tamanho médio da loja: 2.100 pés quadrados
• Pontuação de satisfação do cliente: 4,5/5

Atualizações regulares de coleta de produtos

Métrica de atualização da coleção	2023 dados
Novas coleções por ano	6-8 Coleções
Skus de novo produto médio	120 por coleção
Taxa de atualização do produto	45% anualmente

Vera Bradley, Inc. (VRA) - Modelo de Negócios: Canais

Lojas de varejo de propriedade da empresa

A partir de 2023, Vera Bradley opera 108 lojas de varejo nos Estados Unidos.

Tipo de loja	Número de locais
Lojas de varejo de propriedade da empresa	108

Plataforma online de comércio eletrônico

O canal de vendas on-line direto ao consumidor de Vera Bradley gera aproximadamente US $ 214,3 milhões em receita anual.

• Site: www.verabradley.com
• Plataforma on-line responsiva a dispositivos móveis
• Oferece gama completa de produtos e coleções online exclusivas

Parcerias de lojas de departamento por atacado

O canal atacadista contribui com US $ 174,2 milhões para a receita anual.

Parceiro por atacado	Contribuição estimada de vendas
Nordstrom	US $ 42,6 milhões
Dillard's	US $ 38,9 milhões
Outras lojas de departamento	US $ 92,7 milhões

Mercados on-line de terceiros

Canais de vendas adicionais incluem:

• Amazon: US $ 37,5 milhões em vendas anuais
• Zappos: US $ 12,3 milhões em vendas anuais
• Walmart.com: US $ 8,7 milhões em vendas anuais

Vendas de catálogo

As vendas de catálogo representam US $ 6,2 milhões em receita anual, com aproximadamente 250.000 catálogos distribuídos trimestralmente.

Métrica do catálogo	Valor
Receita anual do catálogo	US $ 6,2 milhões
Distribuição trimestral do catálogo	250,000

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

Mulheres conscientes da moda com idades entre 25 e 55 anos

De acordo com o relatório anual de Vera Bradley em 2023, esse grupo demográfico principal representa 62% de sua base total de clientes.

Faixa etária	Porcentagem de segmento de clientes	Gastos médios anuais
25-35	28%	$345
36-45	22%	$412
46-55	12%	$389

Mulheres profissionais que trabalham

A pesquisa de mercado de Vera Bradley em 2023 indica que esse segmento compreende 24% de sua base de clientes.

• Renda anual média: US $ 85.000
• Categorias de produtos preferidos: sacos de laptop, bolsas de trabalho
• Gastos anuais em acessórios profissionais: $ 520

Entusiastas de viagens

Os clientes focados em viagens representam 15% dos segmentos totais de clientes da Vera Bradley.

Frequência de viagem	Percentagem	Gastos médios de bolsa de viagem
Frequente (mais de 4 viagens/ano)	8%	$475
Ocasional (1-3 viagens/ano)	7%	$285

Compradores de presentes

Os compradores de presentes representam 18% das transações totais de clientes da Vera Bradley.

• Valor médio de compra de presente: $ 175
• Pico do presente de compra de presentes: férias (35%), Dia das Mães (22%)
• Repita a taxa do comprador de presentes: 42%

Estudantes universitários e jovens profissionais

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

Faixa etária	Gastos médios	Tipos de produtos preferidos
18-24	$265	Mochilas, sacolas crossbody
22-30	$385	Totas, sacos de trabalho

Vera Bradley, Inc. (VRA) - Modelo de negócios: estrutura de custos

Design de produtos e despesas de desenvolvimento

Para o ano fiscal de 2023, Vera Bradley registrou US $ 8,7 milhões em despesas de projeto e desenvolvimento de produtos, representando aproximadamente 3,2% de sua receita total.

Categoria de despesa	Valor ($)	Porcentagem de receita
Salários da equipe de design	4,500,000	1.6%
Desenvolvimento de protótipo	2,100,000	0.8%
Tecnologia e software	2,100,000	0.8%

Custos de fabricação e produção

Os custos totais de fabricação para Vera Bradley em 2023 foram de US $ 92,4 milhões.

• Custos de material direto: US $ 52,1 milhões
• Custos de mão -de -obra direta: US $ 22,3 milhões
• Manufatura de sobrecarga: US $ 18,0 milhões

Investimentos de marketing e publicidade

As despesas de marketing para o ano fiscal de 2023 totalizaram US $ 33,6 milhões, representando 12,4% da receita total.

Canal de marketing	Despesas ($)	Porcentagem de orçamento de marketing
Marketing digital	15,120,000	45%
Publicidade nas mídias sociais	6,720,000	20%
Mídia tradicional	5,040,000	15%
Eventos promocionais	6,720,000	20%

Operações de lojas de varejo

As despesas operacionais da loja de varejo para 2023 foram de US $ 78,9 milhões.

• Custos de aluguel e ocupação da loja: US $ 24,6 milhões
• Salários dos funcionários da loja: US $ 38,4 milhões
• Manutenção e utilitários da loja: US $ 15,9 milhões

Despesas de distribuição e logística

Os custos de distribuição e logística para o ano fiscal de 2023 totalizaram US $ 45,3 milhões.

Categoria de despesa de logística	Valor ($)	Porcentagem do orçamento de distribuição
Operações de armazém	13,590,000	30%
Transporte e envio	22,650,000	50%
Gerenciamento de inventário	9,060,000	20%

Vera Bradley, Inc. (VRA) - Modelo de negócios: fluxos de receita

Vendas diretas de lojas de varejo

No ano fiscal de 2024, Vera Bradley opera 108 lojas de varejo nos Estados Unidos. Receita total de vendas de lojas diretas de varejo: US $ 153,6 milhões.

Vendas on-line de comércio eletrônico

Performance do canal de vendas digital para o ano fiscal de 2024:

Canal	Receita	Porcentagem de vendas totais
Site de Vera Bradley	US $ 98,4 milhões	32.1%
Varejistas on-line de terceiros	US $ 42,7 milhões	13.9%

Receita de distribuição por atacado

Distribuição por atacado Distribuição para 2024:

• Receita total de atacado: US $ 187,2 milhões
• Os principais parceiros por atacado incluem:
  • Lojas de departamento
  • Varejistas especializados
  • Mercados on -line

Acordos de licenciamento

Detalhes da receita de licenciamento para 2024:

Categoria de licenciamento	Receita anual
Produtos licenciados colegiados	US $ 12,5 milhões
Presente corporativo e itens promocionais	US $ 6,8 milhões

Coleções de edição sazonal e limitada

Receita de coleções especiais em 2024:

• Receita de coleta de férias: US $ 27,3 milhões
• Colaborações de edição limitada: US $ 18,6 milhões
• Coleções sazonais de cor e padrões: US $ 22,9 milhões

Receita total da empresa para o ano fiscal de 2024: US $ 307,5 ​​milhões

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.