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What Is Vera Bradley's Growth Strategy

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Vera Bradley has two options for their growth strategy. One option is to use market penetration and increase their number of retail and outlet stores to expand their exposure and be more readily available to existing consumers. With only 99 stores open at the end of 2014 contributing to the $536 million in revenue, an increase to 150 stores can contribute almost $275 million in additional revenue. The second growth strategy Vera Bradley could implement is diversification. Vera Bradley can create a new line of products using their new higher quality materials to attract new customers and they can penetrate a new market. The new market they can penetrate is the Asia-Pacific region that is projected to become the largest market for luxury goods

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