Vera Bradley’s CEO and CMO on the 'fine art’ of transforming a 42-year-old brand
The Glossy Podcast · with Jaqueline Ardrey and Alison Hiatt · July 17, 2024 · 38 min
Summary
Vera Bradley's CEO and CMO detail the brand's 360-degree rebrand, including a new logo, products, and ambassador Zooey Deschanel. They discuss the strategic balancing act of modernizing a 42-year-old brand to attract new customers while retaining existing ones, all under the scrutiny of investors as a publicly traded company. This episode offers valuable insights into large-scale brand transformation and strategic growth in the retail sector.
Key takeaways
To successfully rebrand a heritage company, focus on a 'Project Restoration' growth plan that encompasses product, in-store, and online experience updates.
Utilize a high-profile ambassador like Zooey Deschanel to signal a fresh direction and attract new demographics.
Balance the dual challenge of appealing to new audiences while safeguarding the loyalty of your long-standing customer base. This requires careful consideration of both new and classic offerings.
When undergoing a significant transformation as a publicly traded company, proactively manage investor expectations and clearly communicate return on investment for new initiatives.
Emphasize communication and 'employee buy-in' to navigate the internal shifts and ensure organizational alignment during a large-scale rebrand.
Last week, for the first time in its 40-plus-year history, the bag brand Vera Bradley revealed a 360-degree rebrand. Updates include a new logo, new products, new in-store and online experiences, and a new ambassador: actress and singer Zooey Deschanel. Days prior, Glossy sat down with the company’s president and CEO, Jaqueline Ardrey, and CMO, Alison Hiatt, to discuss how the brand’s fresh look and feel play into the Project Restoration growth plan set by Ardrey last year. They also shared the challenges of reaching new audiences while retaining existing customers, and making big changes under the watchful eye of investors as a publicly traded company.
To successfully rebrand a heritage company, focus on a 'Project Restoration' growth plan that encompasses product, in-store, and online experience updates.
What does this episode say about dtc strategy?
Utilize a high-profile ambassador like Zooey Deschanel to signal a fresh direction and attract new demographics.
What does this episode say about retail & omnichannel?
Balance the dual challenge of appealing to new audiences while safeguarding the loyalty of your long-standing customer base. This requires careful consideration of both new and classic offerings.
What does this episode say about founder & leadership?
When undergoing a significant transformation as a publicly traded company, proactively manage investor expectations and clearly communicate return on investment for new initiatives.
What does this episode say about brand & content?
Emphasize communication and 'employee buy-in' to navigate the internal shifts and ensure organizational alignment during a large-scale rebrand.
