Vera Bradley sells Pura Vida, launches Project Sunshine amid 21% workforce cut and store closures

Filed March 27, 2026 · Period ending January 31, 2026 · Compared to 10-K Mar 28, 2025 · ~2 min read

Key Changes

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  Pura Vida sold March 31, 2025 for $3.5M total consideration ($1.8M cash plus earn-out), generating $15.2M loss on disposal; buyer now disputing $4.6M purchase price adjustment in Delaware litigation with summary judgment pending.

  Notes: Discontinued Operations & Legal Proceedings verify on EDGAR →
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  New CEO Ian Bickley (ex-Coach/Tapestry) replaced Jacqueline Ardrey; new CFO/COO Martin Layding and Chief Brand Officer Melinda Paraie joined; near-complete executive turnover with three of four listed executives new to roles.

  Business: Leadership verify on EDGAR →
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  Project Sunshine replaces Project Restoration strategy, emphasizing cotton heritage (product mix rose from 40% to 53% cotton), outlet channel overhaul, and organizational restructuring; 365 employees cut (21% reduction), 12 full-line stores closed.

  Business & MD&A: Strategy verify on EDGAR →