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Vera Bradley files for $175M IPO

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Fort Wayne-based Vera Bradley Inc. filed plans with the Securities and Exchange Commission Thursday to raise $175 million in an initial public offering.

The handbag maker is apparently undeterred by the tumultuous stock market conditions, which have led to disappointing debuts for some U.S. public companies.

The 28-year-old company has 1,059 employees. In the fiscal year ended Jan. 30, it reported profit of $43.2 million on $288.9 million in sales.

Vera Bradley said it plans it list its shares on Nasdaq. The initial filing did not disclose how many shares it expects to sell or at what price.



 

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