CriticalPoint acquires Pura Vida Bracelets, names Paul Frank co-founder as CEO

LOS ANGELES - CriticalPoint affiliates have acquired jewelry and lifestyle accessories brand Pura Vida Bracelets from Vera Bradley, Inc. (NASDAQ:VRA), according to a press release statement issued Tuesday. The sale comes as Vera Bradley’s stock has experienced significant pressure, with shares down over 65% in the past year and trading at just 0.4 times book value, according to InvestingPro data.

Ryan Heuser, co-founder and former president of Paul Frank Industries, has been appointed as Pura Vida’s new chief executive officer, effective immediately.

Founded in 2010 in La Jolla, California, Pura Vida began as a digitally native brand selling hand-crafted bracelets and jewelry made by artisans from Costa Rica. The company was acquired by Vera Bradley in 2019 after being named to the Inc. 5000 list of fastest-growing private companies multiple times. The divestment follows a challenging period for Vera Bradley, which has seen its revenue decline by roughly 20% over the last twelve months to $356 million, with InvestingPro analysts forecasting further sales decline this year.

"At CriticalPoint, we were actively seeking a high-potential consumer brand where our operational expertise could accelerate growth," said Brad Holtmeier, partner at CriticalPoint.

Heuser brings nearly three decades of fashion industry experience to Pura Vida. He previously built Paul Frank into a global brand with distribution in over 60 countries and 30 retail locations worldwide before its acquisition by Haim Saban.

"I’m excited to help reignite Pura Vida’s creative and entrepreneurial spirit," said Heuser.

Pura Vida maintains a social media following of over 3 million and has made donations to more than 300 nonprofits focused on mental health, disaster relief, and environmental causes.

The financial terms of the acquisition were not disclosed. Vera Bradley, currently valued at approximately $58 million in market capitalization, has been facing financial headwinds with negative EBITDA of $26 million in the last twelve months. For deeper insights into Vera Bradley’s financial health and 12+ additional ProTips, visit InvestingPro, where you can access comprehensive Pro Research Reports covering 1,400+ US stocks.

In other recent news, Vera Bradley reported a significant decline in its Q1 FY2026 earnings. The company’s consolidated revenue fell to $51.7 million, down from $67.9 million the previous year, marking a substantial decrease. Vera Bradley also posted a net loss of $10 million or $0.36 per diluted share, with a decline in gross margins. The company has decided to suspend its previous financial guidance due to macroeconomic pressures. Vera Bradley is focusing on brand transformation and cost reduction as part of its strategic initiatives. The company is actively diversifying its wholesale accounts and exploring new marketplace partnerships. Additionally, there are ongoing leadership changes, with a nationwide search for a new CEO underway. Executive Chairman Ian Bickley emphasized the need for performance improvements and strategic transformation.

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