Indiana Unemployment Rate Down, Vera Bradley Sales Up

“Vera Bradley is still going strong even in a tough economy” says Monica Edwards, Marketing Creative Director for Vera Bradley. While many are downsizing, Fort Waynes own Vera Bradley is bagging continued growth. “Vera Bradley has been very fortunate in that our existing corporately owned stores have seen double digit growth” says Edwards. They own 24 retail stores across the nation and the 25th just opened today. They will open 4 new stores (the 25th being included in that) before the year is over. One of those 4 stores will be their very first outlet store. “Consumers tell us that the brand experience, the service the outstanding selection, the presentation; all of these things definitely play into why were doing so well this year” says Edwards. Bags, purses, and designer luggage are luxuries that many people have given up during tough times…but apparently not everyone. “We all love to treat ourselves when its a tough economy and especially when we have to watch our pennies” says Edwards. Over 3400 retailers across the country that carry the brand are benefiting as well. “The one thing they tell us is that Vera Bradley is really bringing new consumers and existing consumers back in the door” says Edwards. In addition to the new stores Veras opened a new production facility in New Haven employing a little over 300 employees. This is proof of the falling unemployment rate here in Indiana. It is currently 9.9 percent. Hoosiers saw a 0.7 percent decline last month. This monthly decrease is the highest since July of 1993. “We anticipate that continued growth and are thankful to the consumers who allow us to do that” says Edwards. Each of those 4 new stores will employ around 10 people. The outlet will employ between 20 and 30 people. The national unemployment rate increased in August from 0.3 percent to 9.7 percent.