Vera Bradley selects Impact Analytics to provide a unified retail planning platform across Merchandise Financial Planning, Assortment, Pricing, Allocation and Replenishment
LINTHICUM HEIGHTS, Md., Jan. 18, 2022 /PRNewswire/ -- Vera Bradley, a leading American iconic lifestyle brand, has partnered with Impact Analytics, a provider of AI driven unified retail solutions, to provide a unified retail planning platform to optimize their decisions across merchandise financial planning, assortment planning, pricing, allocation, and replenishment.
Best known for its innovative designs, unique patterns and brilliant colors, Vera Bradley offers a wide range of styles and print options in bags, luggage, backpacks, and a myriad of other goods. Ensuring the brand stays at the forefront of its customer's desires, Vera Bradley launches new collections throughout the year. Prior to choosing Impact Analytics, many of Vera Bradley's planning, assortment and allocation processes were somewhat disconnected and required manual work. Vera Bradley sought a scalable platform that leverages artificial intelligence algorithms to drive data-driven and more automated decisions.
Impact Analytics will service Vera Bradley's full-price stores, factory stores, ecommerce, and wholesale business. By implementing Impact Analytics solutions, Vera Bradley will have the opportunity to optimize omni-channel decisions through accurate, machine-learning generated forecasts and recommenations leading to improved revenue and profits.
"We are excited to partner with Impact Analytics in deploying their unified Merchandise Platform at Vera Bradley," said Daren Hull, Vera Bradley Brand President. "Impact Analytics' unified solution will help enhance decision making. By leveraging machine learning, our teams will be able to uncover opportunities that traditionally were a challenge to find, opportunities that can make a bottom-line impact."
Vera Bradley's VP of Planning, Dave Farrell, said, "Impact Analytics stood out as an innovative and highly-collaborative partner during our evaluation process. The Impact Analytics team brings a wealth of data science and retail knowledge to the table for a successful implementation. We believe their integrated solutions will provide improved efficiencies and enhance our technology capabilities at Vera Bradley."
"We are delighted to have been chosen as a vendor of choice by the Vera Bradley team. Our A.I. based solutions for retailers are cutting edge and help drive immediate margin impact for our clients, and we are confident of delivering significant value for Vera Bradley," said Prashant Agrawal, CEO of Impact Analytics.
About Vera Bradley, Inc.
Vera Bradley, Inc. operates two unique lifestyle brands – Vera Bradley and Pura Vida. Vera Bradley and Pura Vida are complementary businesses, both with devoted, emotionally-connected, and multi-generational female customer bases; alignment as casual, comfortable, affordable, and fun brands; positioning as "gifting" and socially-connected brands; strong, entrepreneurial cultures; a keen focus on community, charity, and social consciousness; multi-channel distribution strategies; and talented leadership teams aligned and committed to the long-term success of their brands.
Vera Bradley, based in Fort Wayne, Indiana, is a leading designer of women's handbags, luggage and other travel items, fashion and home accessories, and unique gifts. Founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller, the brand is known for its innovative designs, iconic patterns, and brilliant colors that inspire and connect women unlike any other brand in the global marketplace.
In July 2019, Vera Bradley, Inc. acquired a 75% interest in Creative Genius, Inc., which also operates under the name Pura Vida Bracelets ("Pura Vida"). Pura Vida, based in La Jolla, California, is a rapidly growing, digitally native, and highly engaging lifestyle brand founded in 2010 by friends Paul Goodman and Griffin Thall. Pura Vida has a differentiated and expanding offering of bracelets, jewelry, and other lifestyle accessories.
About Impact Analytics
Impact Analytics is a proven leader in Retail, CPG and Supply Chain focused enterprise AI SaaS solutions. Its suite of products for planning, forecasting, and merchandising is empowering leading retailers to make smart data-based decisions, transform their businesses, and achieve substantial business benefits. IA's unique engagement model allows for implementations to be executed in a quick and cost-efficient manner.
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SOURCE Impact Analytics Inc
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