Vera Bradley Inc. has signed a five-year agreement giving Look Inc. exclusive rights to market and distribute Vera Bradley products in Japan, officials announced today.
Mitsubishi Corp., a partner of Look, has been granted exclusive rights to import Vera Bradley products into Japan for the duration of the contract.
Plans call for Look to open Vera Bradley stand-alone retail stores beginning in October. Look will also sell the handbags and other products in department stores and online in Japan. Vera Bradley will close its 13 existing Japan stores at about the same time.
Vera Bradley is scheduled to report fiscal first-quarter earnings on Thursday.