Vera Bradley Draws Closer to Initial Public Offering

According to reporting by the Business Weekly, Chamber member Vera Bradley is getting ever closer to an initial public offering of stock. The shareholders of Vera Bradley Designs will be contributing their equity to the formation of Vera Bradley Inc. The initial public offering will be worth near $175 million. Share price has not yet been set. Vera Bradley's net revenue in fiscal 2010 was $288.9 million.