PROVIDENCE, R.I., Oct. 23, 2012 /PRNewswire/ -- Alex and Ani,
LLC, a rapidly growing lifestyle brand and specialty retailer,
today announced that JH Partners, LLC, a private equity firm
specializing in investing growth capital in consumer-focused
companies, has acquired an interest in the company. Financial
terms were not disclosed, although the investment is believed to be
one of the largest in its category this year.
Alex and Ani offers consumers fashionable lifestyle products
through multiple retail channels, including corporate owned and
branded retail stores, upscale department stores, small chains and
independent retailers, as well as e-commerce. At the core of
Alex and Ani's brand is a patented signature expandable bangle
invented by Designer Carolyn Rafaelian. The products, which
are eco-friendly and made in America, incorporate powerful,
symbolic meanings. Alex and Ani has a number of divisions
including Charity by Design, which partners with 501(c)(3)
corporations, and its Affinity Department, which has licenses to
co-brand with organizations including The Walt Disney Company,
Major League Baseball, the U.S. Olympic Committee, and the Kentucky
Derby, as well as collegiate licensing (including sororities) and
the U.S. Military.
Alex and Ani currently has retail stores in 11 states – RI, MA,
NH, CT, NY, NJ, DE, MD, FL, CO and CA – and its new store rollout
plan for the remainder of 2012 and 2013 will extend the company
into 18 additional states – ME, VT, PA, SC, GA, AL, MS, LA, TN, KY,
IL, UT, MI, MO, NM, TX, OR and WA – in addition to its distribution
through its domestic retail partners. The company's existing
and planned international distribution channels include
Spain, Portugal, Israel, Egypt, South
Africa, Kuwait,
Qatar, UAE, Japan, Australia, Chile, Canada
and the Caribbean.
"We provide our customers positive energy products that bring
meaning to their lives and relationships. JH Partners
understands not only our business concepts, but what our customer
seeks when coming into one of our stores or giving a gift from Alex
and Ani to someone in their life," says Rafaelian.
Giovanni Feroce, who has led Alex
and Ani as Chief Executive Officer since 2010, added, "JH Partners'
experience in growing differentiated consumer brands and their
appreciation of our vision make them the ideal partner as Alex and
Ani moves to its next stage. We look forward to drawing on
their expertise as we advance our brand regionally, nationally, and
globally."
"We are excited to partner with Alex and Ani's outstanding
management team, which is led by Giovanni
Feroce and Carolyn Rafaelian,
to build upon the company's substantial growth opportunities," said
John Hansen, managing partner of JH
Partners, LLC. "The consumer experience and personal nature
of the Alex and Ani brand, in addition to the strong track record
of performance the company has generated over the past several
years, convince us that this lifestyle brand has tremendous growth
potential."
About Alex and Ani
Alex and Ani, LLC offers
eco-friendly, positive energy products created by Designer Carolyn
Rafaelian; Alex and Ani is synonymous with Made in America. Its
world headquarters are located in the Greater Providence, Rhode Island area, the
jewelry manufacturing capital of the
United States, where its products are designed,
manufactured, and assembled using recycled local materials.
Rafaelian believes that every individual has a positive
message to share with the world and that, by incorporating powerful
symbolism and design into each positive energy piece, Alex and Ani
provides a vehicle for wearers to express their
individuality. In 2012, Alex and Ani was an Inc. 500/5000
Company for the third year in a row. Additional information on Alex
and Ani may be found at www.alexandani.com.
About JH Partners, LLC
Based in San Francisco, JH Partners, LLC, specializes
in investing capital in growth-oriented, middle-market consumer
products and services companies. JH Partners, LLC distinguishes
itself among private equity firms with its decades of relevant
operating experience among its professional investment team and the
deep understanding of consumer markets that comes with the firm's
narrow investment focus. Among the firm's 24 current and past
investments are such well-known brands as Bare Escentuals,
J.McLaughlin, Frette, La Perla, Design Within Reach, Jurlique, and
Peet's Coffee & Tea. JH Partners manages approximately
$1 billion in private equity
commitments. Additional information on JH Partners, LLC may
be found at www.jhpartners.com.
Contact for Alex and Ani:
Iris Carlomusto
212.385.1075
iris@alexandani.com
Contact for JH Partners:
Todd Fogarty
212.521.4854
todd-fogarty@kekst.com
SOURCE Alex and Ani, LLC and JH Partners, LLC