Pura Vida Bracelets

Pura Vida Bracelets is a La Jolla, California–based company that sells hand-crafted bracelets and jewelry online and through boutique stores. It was founded in 2010 by Griffin Thall and Paul Goodman, who discovered the bracelets while on a vacation in Costa Rica, then took the local phrase and turned into a brand of cheap goods.[1] After a number of celebrities were spotted wearing the product, interest increased, and the company has since sold over two million bracelets. Pura Vida partners with a number of charities, producing bracelets in those charities' colors and donating a portion of those bracelets' sale prices back towards the partner charities.

Pura Vida Bracelets
IndustryHandcrafted Jewelry
Founded2010 (2010)
Founder
    • Griffin Thall
    • Paul Goodman
Headquarters,
Pura Vida Bracelets

AboutEdit

The company, which is based in La Jolla, California, was founded by Griffin Thall and Paul Goodman in 2010.[2] Thall and Goodman traveled to Costa Rica together on vacation after graduating from San Diego State University, where they met a pair of bracelet makers named Joaquin and Jorge. They then purchased 400 bracelets for $100 to bring back to the United States. The pair initially sold their original stock at Planet Blue, a small boutique located in Malibu, California.[3][4][5] After a number of celebrities – including reality television personality Lauren Conrad, soccer player David Beckham, and musicians Rihanna and Skrillex – were seen with the bracelets, Pura Vida saw an increase in web traffic and sales.[6] By late 2013, Pura Vida had grown to a dozen US-based staff and 50 Costa Rica-based staff.[7] By the end of 2015, the number of Costa Rica-based employees had doubled to over 100.[8] As of March 2015, Pura Vida moved 125,000 bracelets a month through 3,400 physical retail outlets and through their website.[9] As of February 2015, over two million bracelets have been sold.[6] As of July 2019, the company has over 650 employees that work to create these bracelets.[10] Pura Vida means "pure life" in Spanish; in Costa Rica it is said frequently and has many meanings, such as hello, goodbye, or even to say thank you.[11] In an interview, Thall and Goodman called the term "the slogan of Costa Rica, just like the word 'aloha' from Hawaii".[8]

The company initially began with the original 9-string bracelet model and later expanded their product line with the addition of different style bracelets. These bracelets include braided styles, charm bracelets, and bead bracelets. Griffin Thall and Paul Goodman explained that the charms on their products represent waves and mountains because they allude to the Pura Vida lifestyle.[12] Pura Vida Bracelets can be found on many social media platforms such as Instagram and Twitter. As of April 2020, the company's Instagram account has over 1.9 million followers.[13]

Pura Vida also creates bracelets for charitable organizations, as a cause marketing fundraiser; bracelets are produced in a charitable organization's colors, and a portion of the sale of those bracelets goes to that charitable organization.[6] As of March 2019, over $1.7 million has been donated to charitable organizations;[8] over 174 charities have been the beneficiaries of this program.[7] In the aftermath of the Sandy Hook Elementary School shooting, Pura Vida sold a memorial bracelet and was able to provide $30,000 to the memorial fund.[7] In addition to producing its own line of products, Pura Vida produces bracelets for the MyIntent Project.[14] Other charities Pura Vida Bracelet's has partnered with include: The American Heart Association, Shatterproof, UNICEF, charity:water, The Surfrider Foundation, Peach's Neat Feet, and many others listed on their website.[15] In 2019, Vera Bradley purchased a 75% stakeholder share in Pura Vida’s parent company, Creative Genius. The 75% of the company was valued at $75 million. They have the option to purchase the remainder of the company in 2024.[16][17]

ReferencesEdit

  1. ^ "The Pura Vida Story". Pura Vida Bracelets. Retrieved 2020-03-31.
  2. ^ Todorovic, Stefan (9 May 2015). "From Passion to Profits: Pura Vida Bracelets". Ryot. Archived from the original on 2015-12-28. Retrieved 13 January 2016.
  3. ^ "Pura Vida Bracelets Made by Artisans Worldwide". KTLA. 2019-07-12. Retrieved 2020-04-07.
  4. ^ Reverente, Mira Del Fonso (28 June 2011). "Pura Vida Bracelets: Beyond the Fashion Trend". Patch: Agoura Hills. Patch Media. Retrieved 13 January 2016.
  5. ^ Elex, Michaelson (13 February 2015). "SoCal entrepreneurs make millions selling bracelets for charity". KABC-TV. Retrieved 13 January 2016.
  6. ^ a b c Elex, Michaelson (13 February 2015). "SoCal entrepreneurs make millions selling bracelets for charity". KABC-TV. Retrieved 13 January 2016.
  7. ^ a b c Karas, David (2 December 2013). "Pura Vida Bracelets creates jobs, funds good works". The Christian Science Monitor. Retrieved 13 January 2016.
  8. ^ a b c Fujii, Shanna (17 November 2015). "Growing Your Business & Giving Back ft. Pura Vida Bracelet". Bloguettes. Retrieved 13 January 2016.[permanent dead link]
  9. ^ Hansen, Bob (23 March 2015). "Young entrepreneurs at 24-year low, one successful business profiled: Pura Vida Bracelets". KNSD. Archived from the original on 2016-01-27. Retrieved 13 January 2016.
  10. ^ "Pura Vida Bracelets Made by Artisans Worldwide". KTLA. 2019-07-12. Retrieved 2020-04-07.
  11. ^ Van Velzer, Ryan (June 21, 2015). "National Motto". costarica.com. Retrieved 16 February 2016.
  12. ^ "Pura Vida Bracelets Made by Artisans Worldwide". KTLA. 2019-07-12. Retrieved 2020-04-14.
  13. ^ "Pura Vida Bracelets® (@puravidabracelets) • Instagram photos and videos". www.instagram.com. Retrieved 2020-04-07.
  14. ^ Vesilind, Emili (24 December 2015). "How a $12 String Bracelet Became a Huge Deal". JCK. Reed Exhibitions. Archived from the original on 2016-01-30. Retrieved 17 January 2016.
  15. ^ "Charity". Pura Vida Bracelets. Retrieved 2020-04-07.
  16. ^ Concepcion, Mariel (2019-06-24). "Vera Bradley Acquires 75% Stake in Pura Vida". San Diego Business Journal. Retrieved 2020-01-01.
  17. ^ Wu, Jasmine (2019-06-20). "Vera Bradley acquires a majority stake in online jewelry store Pura Vida Bracelets". CNBC. Retrieved 2020-01-01.