Vera Bradley Drops Pura Vida, Shuffles Leadership as Part of Business Reinvigoration
Vera Bradley has sold its Pura Vida brand to CriticalPoint and is shuffling its leadership.
The moves come a year after the bag and luggage brand launched an e-commerce and marketing reinvigoration as part of its "Project Restoration" to remain profitable and relevant.
Business Strategy
The turnaround strategy includes a search for a new chief executive officer as Jacqueline Ardrey departs the company. Ian Bickley has been named to the temporary role of executive chairman to lead the company and guide the CEO transition.
Additionally, the company’s board of directors created a Strategy and Transformation Committee to work with incoming leadership to shape Vera Bradley’s strategic direction and future growth initiatives. This will be co-led by Bickley and director Andrew Meslow, who was most recently the CEO of Bath & Body Works and L Brands.
During Vera Bradley’s latest earnings call, Ardrey said the company has been leaning on data insights from both its current customers and prospective customers to guide business optimization efforts. This includes taking feedback on zippers, pockets and changes in strap length and forming new retail partnerships with Costco, Urban Outfitters Marketplace and Anthropologie.
The restoration plan also includes:
- Testing price elasticity through promotional adjustments.
- Closing 10 unprofitable full-line store locations in 2025.
- Driving customer growth in the 18- to 34-year-old demographic through a new nostalgia-driven, social-first marketing campaign.
- Refining its assortment by bringing back heritage styles, developing reimagined heritage collections, increasing deliveries of licensed products and returning favorite SKUs.
Also: Vera Bradley invests in AI-powered responsible sourcing
More About Pura Vida
The digitally native jewelry and accessories brand was founded in 2010 in California. It will now fall under the leadership of new CEO Ryan Heuser, co-founder and former president of lifestyle company Paul Frank Industries.
CriticalPoint said it looked to acquire Pura Vida for its passionate customer base and compelling product line, along with its purpose-driven mission that resonates with the next generation of consumers.
Heuser brings nearly three decades of experience in the fashion industry. He launched Paul Frank in 1997 from his garage, growing the brand to have a global presence that spans licensed products, apparel, accessories and a retail footprint of 30 stores.
"I'm excited to help reignite Pura Vida's creative and entrepreneurial spirit," Heuser said in a statement. "The brand's story mirrors my own: humble beginnings, a passion for design and a deep commitment to brand-building. There's tremendous potential to shape its next chapter while staying true to its roots that made it so beloved."
