The Economic Strategy Of Vera Bradley

1486 Words6 Pages
This analysis examines the economic strategy of Vera Bradley. I took a closer look at the strategic moves of this Luxury goods manufacture. The owners going from making colorful patterned duffel bags and suitcases, has now become a household brand. Their decisions to differentiate ultimately shaped the growth of their business. With a declining fiscal year, Vera Bradley decided to implement a new strategy that will be sure to revamp growth. To further explore the challenges that continue to occur throughout this case, I analyze those challenges and suggest tools and techniques that would help improve the economic strategy of Vera Bradley. Vera Bradley began in 1982 when two women had an idea to make luggage fun and different. Barbara Bradley Baekgaurd and Patricia Miller decided it was time for a fashion change. While traveling through an Atlanta airport, they noticed that majority of the luggage carried by passengers was bland and uninteresting. Their idea to diversify luggage and duffle bags with colorful and stylish patterns was a great hit. In the mid 2000’s their company experienced rapid growth, selling in department, outlet stores as well as online. Unfortunately in the mid 2010’s the company’s standing seemed to decline, as there was more competition for ladies handbags and accessories. In the fiscal year of 2014 growth had stalled, just as they were preparing to launch a new strategy. The new strategy focused on three key areas: product distribution channels and
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