Lifestyle Brand Alex and Ani Receives Growth Investment from JH Partners
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.
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SOURCE Alex and Ani, LLC and JH Partners, LLC