Vera Bradley, Inc. Names Lockie Andrews Chief Growth Officer of Pura Vida Brand

Rhea-AI Summary

Vera Bradley, Inc. (Nasdaq: VRA) has appointed Lockie Andrews as the new Chief Growth Officer for its Pura Vida brand. Andrews will spearhead digital marketing, sales, and merchandising strategies, aiming to drive growth and explore new sales channels. Previously at Party City, she boosted eCommerce conversion rates by 60%. CEO Rob Wallstrom expressed confidence in Andrews' innovative approach to enhance Pura Vida's brand potential. This expansion comes as Vera Bradley continues to cultivate its lifestyle brands, further solidifying its market position.

Positive

• Appointment of Lockie Andrews as Chief Growth Officer for Pura Vida.
• Andrews' previous success in increasing eCommerce conversion by 60%.
• Strategic focus on digital marketing and new sales channels to drive growth.

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• None.

FORT WAYNE, Ind., May 04, 2022 (GLOBE NEWSWIRE) -- Vera Bradley, Inc. (Nasdaq: VRA) (the “Company”) today announced that Lockie Andrews has been named to the newly created post of Chief Growth Officer for its Pura Vida Brand.

In this role, Andrews will be responsible for all digital, performance marketing, sales, and merchandising initiatives across Pura Vida’s channels of distribution. Andrews will join cofounders Griffin Thall and Paul Goodman in leading Pura Vida to the next level of growth by creating and executing innovative, performance-based marketing; exploring, developing, and launching new sales channels; and driving category growth and expansion.

Rob Wallstrom, Chief Executive Officer of the Company, noted, “Lockie Andrews will be a great addition to the Pura Vida team and to our entire organization. Her perspective, expertise, and innovative thinking will be instrumental in developing Pura Vida’s full potential as a unique lifestyle brand.”

Andrews is an accomplished leader with a deep background in retail, marketing, digital strategy, technology, and data analytics. She most recently held the post of Head of eCommerce and Digital Operations at vertically-integrated party supplier Party City, leading the enterprise's eCommerce re-platforming and increasing site conversion by sixty percent. Previously, she served as Chief Information Officer and Chief Digital Officer of UNTUCKit, where she led the digital transformation and data analytics of the high-growth, omni-channel retail brand. Since 2007, Andrews has also been Managing Director and Chief Executive Officer of Catalyst Consulting, a boutique advisory firm specializing in innovation and leveraging data and technology to increase revenue and drive operational efficiency, serving a myriad of well-known brands and companies. Prior, she was Chief Operating Officer for Tadashi and Vice President of Business Development and Planning for babystyle, both multi-channel lifestyle retail brands. Andrews is a graduate of Georgetown University and holds a Master of Business Administration degree from Harvard Business School.

About Vera Bradley, Inc.

Vera Bradley, Inc. operates two unique lifestyle brands – Vera Bradley and Pura Vida. Vera Bradley and Pura Vida are complementary businesses, both with devoted, emotionally-connected, and multi-generational female customer bases; alignment as casual, comfortable, affordable, and fun brands; positioning as “gifting” and socially-connected brands; strong, entrepreneurial cultures; a keen focus on community, charity, and social consciousness; multi-channel distribution strategies; and talented leadership teams aligned and committed to the long-term success of their brands.

Vera Bradley, based in Fort Wayne, Indiana, is a leading designer of women’s handbags, luggage and other travel items, fashion and home accessories, and unique gifts. Founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller, the brand is known for its innovative designs, iconic patterns, and brilliant colors that inspire and connect women unlike any other brand in the global marketplace.

In July 2019, Vera Bradley, Inc. acquired a 75% interest in Creative Genius, Inc., which also operates under the name Pura Vida Bracelets (“Pura Vida”). Pura Vida, based in La Jolla, California, is a digitally native, highly-engaging lifestyle brand founded in 2010 by friends Paul Goodman and Griffin Thall. Pura Vida has a differentiated and expanding offering of bracelets, jewelry, and other lifestyle accessories.

Vera Bradley Safe Harbor Statement

Certain statements in this release are "forward-looking statements" made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and are subject to various risks and uncertainties that may cause actual results to differ materially from those that we expected, including: possible adverse changes in general economic conditions and their impact on consumer confidence and spending; possible inability to predict and respond in a timely manner to changes in consumer demand; possible loss of key management or design associates or inability to attract and retain the talent required for our business; possible inability to maintain and enhance our brands; possible inability to successfully implement the Company’s long-term strategic plan; possible inability to successfully open new stores, close targeted stores, and/or operate current stores as planned; incremental tariffs or adverse changes in the cost of raw materials and labor used to manufacture our products; possible adverse effects resulting from a significant disruption in our distribution facilities; or business disruption caused by COVID-19 or other pandemics. Risks, uncertainties, and assumptions also include the possibility that Pura Vida acquisition benefits may not materialize as expected and that Pura Vida’s business may not perform as expected. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended January 29, 2022. We undertake no obligation to publicly update or revise any forward-looking statement.

CONTACTS:
Investors:
Julia Bentley, VP of Investor Relations and Communications
jbentley@verabradley.com
(260) 207-5116

Media:
mediacontact@verabradley.com
877-708-VERA (8372)

FAQ

What is the significance of Lockie Andrews' appointment at Vera Bradley (VRA)?

Lockie Andrews' appointment as Chief Growth Officer for Pura Vida is significant as she will lead digital marketing and sales initiatives to drive growth.

How did Lockie Andrews contribute to her previous role at Party City?

Lockie Andrews increased eCommerce conversion rates by 60% while serving as Head of eCommerce and Digital Operations at Party City.

What are the goals of the new Chief Growth Officer at Vera Bradley (VRA)?

The new Chief Growth Officer aims to enhance Pura Vida's market presence through innovative marketing strategies and exploring new sales channels.

What does Vera Bradley (VRA) hope to achieve with the new leadership in Pura Vida?

Vera Bradley hopes to achieve significant growth and expansion in the lifestyle market by enhancing Pura Vida's brand under Andrews' leadership.