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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Vera Bradley Cuts Deal With Macy’s

Vera Bradley’s sales are down, and the company is desperately trying to keep its head above water. With its customer base dwindling and showing no signs of improvement, the business known for its floral handbags and accessories was in need of finding a new spot to bloom. Vera Bradley has decided to partner up with Macys and sell its products at 70 store locations across the United States.

As a leading designer for women’s luggage and accessories, the 30 percent decrease in earnings really took a toll on the company’s profit. Robert Wallstrom, Vera Bradley’s CEO, stated in a post-earnings conference call that the brand was not appealing to as many new customers as needed. There needed to be a big change, and Macy’s seemed to be the perfect answer.

“We are excited about our new relationship with Macy’s. Department stores are the number one destination for handbag purchasing, and Macy’s will be a great place to showcase our products, especially as we launch our leather and faux leather collections. This important relationship will allow us to introduce Vera Bradley to new customers and broaden our geographic reach,” said Wallstrom in a press release.

Most Vera Bradley products are currently being sold in the South and Northeast, so the soon-to-be increase in exposure is sure to bring in more sales. Looks like the brand has more than just a few new summer patterns underway.

The deal was announced on Thursday, and it’s set to hit the stores in mid July.

 

 

 

Photo: Ohmyvera


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