Vera Bradley Essay

5191 Words21 Pages
Written Case #1: Vera Bradley in 2014: Will the Company’s Strategy Reverse Its Downward Trend? LUICELENA PEREZ – CWID: 11493487 GBA 490-006 Dr. Marino 3/01/2016 Thirty-four years ago in the Hartsfield Atlanta Airport, Patricia Miller and Barbara Bradley noticed that the majority of people had the same simple and boring luggage design. These two friends saw the opportunity to pursue a new market that offers colorful and patterned baggage designs, and that is how Vera Bradley began. Vera Bradley started producing colorful and unique pattered designs for luggage, bags, sports bags and handbags; and after the success of the first product line and their economic growth, they…show more content…
Limiting the company’s collection of high quality hand bag, purses and accessories, and selecting the products with more popularity, will have a huge influence on their success. The past couple of years the major products from their accessories category were cosmetic cases, eye-glass cases, wristlets, wallets and gifts and paper; on the category of travel and leisure the most popular items were rolling luggage, garment bags, duffel bags, and travel cosmetic cases. Figure 4 shows a reflection of the revenue report on Vera Bradley’s most profitable products and its progress/deterioration of those items through the years. Vera Bradley should keep in mind that their specialization is travel bags and therefore should remain strong in that area since that is what actually they are known for and the reason why they created the business. The addition of handbags was not totally a bad idea, but it is not Vera Bradley’s strength. The market is full of competitors who are better known with higher customer loyalty such as Kate Spade, Michael Kors and Coach. However, Vera Bradley’s products are not yet as globally competitive as these other companies already mentioned and therefore it is hard to compare and compete with them. The two realities that the company is facing is the perceived quality of its products and brand name recognition. This is happening because some segments consider Vera Bradley even below the accessible luxury category. The products at Vera
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