Vera Bradley, Inc. has sold its retail start-up goodMRKT to goodMRKT Holdings, LLC, which the brand’s Co-founder and Vera Bradley veteran Harry Cunningham will now lead as Managing Partner.
“This announcement coincides with our Board of Directors’ decision to focus on the growth of our two core brands — Vera Bradley and Pura Vida,” said Rob Wallstrom, CEO of Vera Bradley in a statement. “We are delighted that goodMRKT will have a wonderful home and the opportunity to grow and flourish under the ownership of goodMRKT Holdings, LLC and guidance of Harry.”
goodMRKT is described as a “laboratory retail concept,” exclusively showcasing purpose-driven brands through a community retailing model. The company currently features more than 60 brands in its store in Fort Wayne, Ind. as well as on its website, and the concept won a Brand Experience Award at this year’s Retail Innovation Conference & Expo.
Cunningham co-founded goodMRKT and served as Chief Brand Officer for the concept while also serving as VP of Retail Brand Experience at Vera Bradley. With the sale, he now moves full-time into the management of goodMRKT after nearly eight years with Vera Bradley.
“I am passionate about offering products that have a purpose, building a brand where giving back is a given and supporting entrepreneurs that dare to do good,” said Cunningham in a statement. “At goodMRKT, we are thrilled to platform our community of makers and creators who confront the challenges of the world and create change around the globe, and we’re excited about the possibility of bringing the concept to other cities around the country over time.”