FORT WAYNE, Ind., Dec. 15, 2016 (GLOBE NEWSWIRE) -- Vera Bradley, Inc. (Nasdaq:VRA) ("Vera Bradley" or the "Company") today announced it has entered into a licensing agreement with Incipio for various technology products including smartphone and tablet cases, power solutions, and portable audio with distribution beginning in Spring 2017.
Sue Fuller, Chief Merchandising Officer for Vera Bradley, noted, "Innovative technology solutions are increasingly important for consumers, and Incipio, with its keen focus on both design and function, is a great fit for Vera Bradley as we strive to bring beautiful solutions to our customers."
"Through inspiring and expressive design, Vera Bradley has a distinctive position in the women's lifestyle market," added Kristen Roney, Vice President of Licensing, Incipio. "The agreement allows for the iconic, vibrant prints and patterns that comprise the Vera Bradley brand to include a complementary range of thoughtfully designed tech solutions, adding another measure of brand versatility and distinction."
Since September, the Company has announced new licensing agreements with Peking Handicraft Inc. for decorative bedding, area rugs, and kitchen textiles; Renfro Corporation for hosiery, tights, boot liners, and slipper socks; Mainstream Swimsuits, Inc. for swimwear and cover-ups; Lifeguard Press for signature stationery and home and office organizational products; and Fox Chapel Publishing for coloring activity and design books and gift sets. The Company has an existing license agreement with the McGee Group for readers and sunglasses.
All licensed products will be sold in appropriate distribution channels which could include Vera Bradley stores, verabradley.com, and specialty and chain stores throughout the country. Vera Bradley will work with the licensing partners in the development and final approval of all product designs. Management does not expect licensing partnerships to have a material impact on the company's financial performance for the fiscal years ending January 28, 2017 and February 3, 2018.
About Vera Bradley, Inc.
Vera Bradley is a leading designer of women's handbags, luggage and travel items, fashion and home accessories and unique gifts. Founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller, the brand's innovative designs, iconic patterns and brilliant colors continue to inspire and connect women unlike any other brand in the global marketplace. The Company's commitment to bringing more beauty into women's lives includes its dedication to breast cancer research through the Vera Bradley Foundation for Breast Cancer. For more information about Vera Bradley (Nasdaq:VRA), visit www.verabradley.com.
Incipio® is a global consumer technology solutions platform operating a diverse portfolio of owned and licensed brands at the intersection of design and functionality. Founded in Southern California in 1999, Incipio's strategy begins with a passion for building amazing product and a commitment to serve its customers. Incipio's portfolio of brands offers compelling solutions that meet the needs of today's active mobile consumers, who demand more out of the products they use. For more information, please visit www.incipiogroup.com.
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 brand; possible inability to successfully implement our growth strategies or manage our growing business; possible inability to successfully open new stores as planned; 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 single distribution facility; and possible ramifications from the payment card incident disclosed in October 2016. 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 30, 2016. We undertake no obligation to publicly update or revise any forward-looking statement.
CONTACTS: Investors: Julia Bentley, VP of Investor Relations and Communications firstname.lastname@example.org (260) 207-5116 Media: 877-708-VERA (8372)