![]() ![]() It was a formula that worked.Īs his name suggests, CEO Feroce was a fierce business manager who took care of all the operational details, leaving the design side to Rafaelian. Throughout its heyday, Alex and Ani had a two-person team at the top with Rafaelian the inspired and inspiring creative visionary and Giovanni Feroce, a hard-charging, former Army major, managing business operations. Then around 2015/2016 once sales reached about $500 million, the company’s fortunes started to turn. “For yourself or to give as a gift, it’s so easy to come in and bam, you’re out the door with something that looks like it costs at lot, but it doesn’t.”Īlex and Ani may not be fine jewelry, but it is jewelry and it offers a lot of value at a price point perfect for impulse or add-on purchases. “Where else can you buy a set of three bracelets for under $100?” asks Stoval. And remarkably, Alex and Ani has held its affordable price points making it perfect for our time with the threat of inflation looming. The price point was perfect for recession-weary customers who wanted an emotional pick-me-up without spending too much money.įast-forward to today and pandemic-weary customers still need the same lift. Alex and Ani opened its first store in Newport, RI and the line was picked up by Bloomingdale’s, Nordstrom and a rush of independent jewelry and gift stores.īesides coming on the scene with a meaning-infused, fashionable new look in jewelry, Alex and Ani was affordable with single bracelets averaging $30 or so. Sales grew from $20 million in 2011 to $350 million in 2015. The years following the 2008/2009 recession were the glory days for the brand. ![]() The meaning is what customers buy and Alex and Ani has an ever-replenishing well of meaning to draw from. Now if they came out with a really pretty snowflake with crystals, that would sell well, but not the chessy kids’ stuff,” she advises. “Some of the designs look like they are designed by kids for kids, like a snowman or a candy cane. However, Tiffany Stoval, whose Atlanta West Jewelry store has carried the line for years, suggests that recent designs have gotten too mundane and ordinary. Rafaelian created it, but any good brand marketer with a team of designers could carry it forward. The designs are simplicity itself and addictive, since the bracelets are made to be collected and worn stacked. Our jewelry is meant for you to express your unique self.” Your life is made up of the connections you create - to yourself, your loved ones, spirit, nature, humanity, and the universe itself. We are designed to connect you to every single part of your soul’s destiny. “The universe speaks to us in signs and symbols. The charms run the gamut for most every personal or gifting occasion and emotional sentiment, with a touch of the mystical added in. (Photo by Cindy Ord/Getty Images for ALEX AND ANI) getty bangle launch party to celebrate the partnership with Team Red, White & Blue at ALEX AND ANI Soho on Jin New York City. NEW YORK, NY - JUNE 25: A view of atmosphere at the Alex and Ani CHARMED BY CHARITY event and. And each bracelet comes with a “meaning card,” which tells the bracelet’s story. The company offers a wide array of stylized charm designs and licensed images. Manufactured in Rhode Island from recycled metal, the original appeal was the personal meaning imbued into each design. She secured a patent for the design of the wire bracelets and fine-tuned the charms that let wearers express themselves. Here’s what history shows and how to apply its learnings to today: Simple, scalable design modelĭuring the formative years from 2004 to 2009, Rafaelian was honing the brand. Looking back to go forwardįor such a young company, Alex and Ani has quite a checkered history, but by looking back, the company can see a way forward. The value isn’t in the company but in the brand. Despite the past struggles, it still has plenty to work with. Rafaelian could not be reached for comment.Īlex and Ani has almost single-handedly dug itself into a deep hole and now it has to dig itself out. And under the restructuring agreement, Rafaelian must sell her remaining shares in the company. At that time, Rafaelian was removed as CEO and Robert Trabucco, former CFO of Sterling Jewelers, a division of Signet, took command with Rafaelian heading up design.īut that didn’t last long and she was out by May 2020. London-based Lion Capital is the company’s current majority shareholder, having acquired a 40% stake in 2014 and increasing its share to 59% in 2019. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |