Affiliates of CriticalPoint Acquire Pura Vida Bracelets from Vera Bradley, Inc.

Rhea-AI Summary

Affiliates of CriticalPoint have acquired Pura Vida Bracelets from Vera Bradley (NASDAQ: VRA). As part of the acquisition, Ryan Heuser, co-founder and former president of Paul Frank Industries, has been appointed as Pura Vida's new CEO.

Founded in 2010, Pura Vida is a digitally native jewelry and lifestyle accessories brand known for hand-crafted bracelets made by Costa Rican artisans. The brand has built a strong following among younger female consumers and has contributed to over 300 nonprofits. Previously acquired by Vera Bradley in 2019, Pura Vida will now leverage CriticalPoint's operational expertise and Heuser's extensive fashion industry experience to accelerate growth.

Positive

• Acquisition by CriticalPoint brings operational expertise to accelerate growth
• Appointment of experienced CEO Ryan Heuser with proven track record in building global fashion brands
• Strong existing customer base and established digital presence
• Successful brand history including placement on Inc. 5000 fastest-growing companies list

Negative

• Vera Bradley divesting previously acquired asset suggests potential challenges in brand integration or performance
• Undisclosed deal terms create uncertainty about transaction value and financial implications

Insights

Retail M&A Analyst

Vera Bradley divests Pura Vida brand to CriticalPoint, bringing in experienced leadership but leaving financial impact uncertain.

This acquisition represents a significant strategic shift for Vera Bradley (VRA), which purchased Pura Vida just six years ago in 2019. The divestiture suggests VRA may be refocusing on its core handbag and accessories business after experimenting with the digitally-native, youth-oriented Pura Vida brand.

The appointment of Ryan Heuser as CEO is particularly noteworthy. His background with Paul Frank Industries demonstrates proven success scaling a lifestyle brand with similar demographic appeal from startup to international distribution. Heuser's experience building Paul Frank from a garage operation to distribution in 60+ countries through both premium channels (Nordstrom) and mass-market retailers (Target) directly aligns with Pura Vida's growth potential.

For Vera Bradley investors, the impact remains uncertain without disclosed financial terms. The divestiture could be positive if Pura Vida was underperforming or failing to integrate effectively with VRA's core operations. Alternatively, it could signal challenges in VRA's growth strategy if they're selling a previously acquired growth asset.

CriticalPoint's strategic rationale appears sound - they're acquiring a brand with established consumer loyalty, particularly among younger female demographics, and installing leadership with proven success in similar market segments. The emphasis on Pura Vida's purpose-driven mission (donations to 300+ nonprofits) aligns with growing consumer preference for socially conscious brands.

Ryan Heuser, Co-Founder and Former President of Paul Frank Industries, Is Pura Vida's New CEO

LOS ANGELES, June 24, 2025 /PRNewswire/ -- Affiliates of CriticalPoint announced today the acquisition of consumer wearables brand Pura Vida© Bracelets ("Pura Vida") from Vera Bradley, Inc. (NASDAQ: VRA). Under CriticalPoint's ownership and operational expertise, Ryan Heuser, co-founder and former president of Paul Frank Industries ("Paul Frank"), has joined Pura Vida as the company's new chief executive officer, effective immediately.  

Founded in 2010 in La Jolla, Calif., Pura Vida began as a digitally native jewelry and lifestyle accessories brand, selling hand-crafted bracelets and jewelry made by artisans from Costa Rica. Its high-quality, on-trend products and donations to 300+ mental health, disaster relief, and environmental nonprofits quickly built a loyal following on social media with younger, female consumers. Pura Vida was repeatedly named to the Inc. 5000 list of fastest-growing private companies, and in 2019, the company was acquired by Vera Bradley, Inc., a maker of high-end handbags and accessories.

"At CriticalPoint, we were actively seeking a high-potential consumer brand where our operational expertise could accelerate growth— and we saw that in Pura Vida," said Brad Holtmeier, partner at CriticalPoint. "The brand has an incredibly passionate customer base, a compelling product line, and a purpose-driven mission that deeply resonates with the next generation of consumers. We're equally excited to welcome Ryan Heuser as CEO. His entrepreneurial track record, combined with his instinct for design, storytelling, and brand building, makes him the ideal leader to unlock Pura Vida's full potential."

Ryan Heuser, co-founder and former President of Paul Frank, brings nearly three decades of fashion industry experience to his new role at Pura Vida. Known for his ability to build iconic lifestyle brands, Heuser began his career in public relations at Mossimo Inc. before launching Paul Frank in 1997 from his garage in Huntington Beach, Calif. Under his leadership, the brand grew into a global phenomenon—spanning licensed products, apparel, accessories, and a retail footprint of 30 "Paul Frank Store" locations worldwide. At its peak, the brand was distributed in over 60 countries through retailers ranging from Nordstrom to Target. Paul Frank was acquired by billionaire Haim Saban.

"I'm excited to help reignite Pura Vida's creative and entrepreneurial spirit," said Heuser. "The brand's story mirrors my own—humble beginnings, a passion for design, and a deep commitment to brand-building. There's tremendous potential to shape its next chapter while staying true to its roots that made it so beloved."

Terms of the deal were not disclosed.

About CriticalPoint
Founded in 2012 and based in El Segundo, Calif., CriticalPoint's Private Capital team is comprised of experienced, nimble decisionmakers. CriticalPoint makes swift, strategic investments in non-core businesses that may not be a fit for their current owners but show potential to deliver value in the future. Corporate sellers can turn to CriticalPoint as a deal-making solution that is well-prepared to handle even the most complex situations. For more information, please visit criticalpoint.com/services/invest.

About Pura Vida Bracelets  
Founded in 2010, Pura Vida Bracelets resonates with consumers everywhere with a colorful, surf-inspired aesthetic that distinguishes its stackable jewelry, accessories, and apparel. Its highly engaged social community of 3 million+ followers connects deeply with the brand's mission of giving back and doing good. Pura Vida is headquartered in La Jolla, Calif. Visit the website at puravidabracelets.com. Follow the brand @puravida on TikTok or Instagram. Pura Vida was acquired by Vera Bradley, Inc. in July 2019. 

About Vera Bradley, Inc.
Vera Bradley began as an instinct. An instinct fueled by the optimism, passion, and bold self-expression of the founders, who imagined a more colorful, beautiful world — specifically a more beautiful world of bags and travel accessories. They listened to themselves and invited generations of women to listen to be their own muses. That, together with a passion for design, artistry, and craft, has inspired independent women everywhere to embrace their very personal and unique individual styles. Visit the website at verabradley.com.

CriticalPoint is committed to customer privacy. Please contact us at info@criticalpoint.com or 2101 Rosecrans Ave Ste. #4255, El Segundo, CA 90245 for more information about our privacy policy and opt-out rights.

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SOURCE CriticalPoint

FAQ

Why did Vera Bradley (VRA) sell Pura Vida Bracelets to CriticalPoint?

While specific reasons weren't disclosed in the announcement, the sale appears to be a strategic move. CriticalPoint aims to leverage its operational expertise to accelerate Pura Vida's growth under new leadership.

Who is the new CEO of Pura Vida Bracelets after the acquisition?

Ryan Heuser, co-founder and former president of Paul Frank Industries, has been appointed as Pura Vida's new CEO. He brings nearly three decades of fashion industry experience and success in building global lifestyle brands.

What is Pura Vida's business model and target market?

Pura Vida is a digitally native jewelry and lifestyle accessories brand that sells hand-crafted bracelets and jewelry made by Costa Rican artisans. The brand primarily targets younger, female consumers and has a strong social media presence.

How will the CriticalPoint acquisition affect Pura Vida's operations?

CriticalPoint plans to apply its operational expertise to accelerate growth while maintaining Pura Vida's creative and entrepreneurial spirit. The brand will continue its purpose-driven mission under new leadership.

What was the acquisition price for Pura Vida Bracelets?

The financial terms of the acquisition were not disclosed in the announcement.