Rafaelian Roars

Rhode Islander Carolyn Rafaelian discusses the success of her superstar jewelry company, Alex and Ani.

To say that Alex and Ani has absolutely exploded in recent years might be a gross understatement. According to Inc. magazine, which listed Alex and Ani at number 94 on its 2013 Inc. 5000 List, sales for the company were $2.2 million in 2009. By 2012, sales were reported at $79.8 million, a growth of 3,569 percent. But the momentum keeps on going: 2013 revenue of $230 million represents yet another meteoric jump.

Hollywood A-listers such as Beyoncé and Kristin Chenoweth have been spotted wearing Alex and Ani pieces on stage and on the red carpet. The Cranston, Rhode Island-based company counts 2012 Miss Universe and last year’s SNEL 2013 cover girl Olivia Culpo as an early fan, and it has endorsement partnerships with the New England Patriots Cheerleaders and the New York Knicks City Dancers, to name a few. In the fall of 2012, company founder Carolyn Rafaelian personally gave His Holiness the Dalai Lama a bracelet adorned with a custom-inscribed bead that reads, “ONE People with Love, Carolyn.”

While the company continues to grow, so too does Rafaelian’s commitment to her home state. She purchased Newport’s famed Belcourt Castle in 2012 for $3.6 million and is spending millions more on a renovation. Now called Belcourt of Newport, it’s slated to open this summer as a tour house, art gallery and event space. Alex and Ani filmed its 2013 Super Bowl commercial at the castle while it was still under renovation. In December 2012, she bought Sakonnet Vineyards in Little Compton, Rhode Island, which continues to operate as a winery with the slightly updated name Carolyn’s Sakonnet Vineyard.

We checked in with Rafaelian earlier this spring:

SNEL:

You’re Armenian American. Were you born in the States? If so, where did you grow up and did you attend college nearby?

CR:
I am a proud Armenian American, born and raised in Cranston, Rhode Island, the home of Alex and Ani headquarters. I attended the University of Rhode Island, the American College London and the American College Los Angeles, receiving my bachelor’s of science in business and marketing.

SNEL:

You worked for and eventually became part-owner of your father’s Cranston, Rhode Island-based jewelry company, Cinerama. Is Cinerama still in operation?

CR:
Cinerama is a very important piece of my personal history and corporate identity. I grew up in my father’s factory, playing with vintage chains and learning about the importance of hard work. It still holds a special place in the community as a conscious vendor that manufactures its jewelry in America.

SNEL:

What led you to strike out on your own and start Alex and Ani in 2004?

CR:

I wanted to continue my family’s tradition in the jewelry business in a new way. At that time, I had been designing my own private-label pieces and decided to embark on my own adventure. Creating the expandable wire bangle, our signature piece inspired from my “Endless Hoops” design, was the turning point and the beginning of this company. Family is at the heart of Alex and Ani—it was named after my two oldest daughters—and will always be a continuous source of inspiration for all of our designs.

SNEL:

According to media reports and Alex and Ani’s website, you’re very dedicated to having your pieces manufactured in the U.S. Why is that so important to you personally and to the company as a whole?

CR:
We keep our manufacturing completely in the United States to ensure that we positively affect our communities and facilitate growth in our local economies. In addition, we only use materials that are sustainable and derived from eco-friendly processes.

SNEL:

Can you describe the company’s “Charity by Design” program?

CR:
Created in February 2011, the Charity by Design division empowers nonprofit organizations, both on a national and local scale, to reach their goals and share their missions. We create custom symbolic charms that capture the charity’s essence, making it more accessible to the public while raising awareness and funds. A portion of these bracelets’ proceeds is donated directly to the nonprofit, giving our consumers the opportunity to participate in charitable initiatives.

SNEL:

Would you explain the “positive energy” ethos of both the company and the pieces it creates?

CR:
At Alex and Ani, we are committed to building a culture that focuses entirely on mindful actions. Our products are handcrafted in America. We purposefully locate our stores on main streets to encourage growth in local economies. Our items are designed for longevity, as artisanal pieces that can be passed from one generation to the next.

We embrace the power of positive energy as our core company belief. Each product is infused with positive energy in three important ways. First, the products themselves are manufactured with positive intention in carefully selected American factories. Second, the symbols featured in our designs carry their own energy and are accompanied by thoughtfully crafted and meticulously researched meaning. Last, each design is positively intended to empower the wearer and reflect the unique qualities of the individual.

To me, sustainability is an essential idea that means contributing to new ways of thinking and acting that consider the well-being of our planet, our communities and our individual paths. I want to empower individuals to actively create the world they want to live in.

SNEL:

Within the last couple of years you’ve purchased two Rhode Island landmarks: Sakonnet Vineyards (now Carolyn’s Sakonnet Vineyard) and Newport’s Belcourt Castle (now the Belcourt of Newport), which you’ve
extensively renovated and plan on opening this summer as an event venue. Why is it important that you maintain such strong ties to Rhode Island?

CR:
Rhode Island holds a special place in my heart; it is my home. The vineyard resonates with my appreciation for and connection to the earth. Mother Nature gives blessings in abundance. I want to share my passion for the vineyard and its delicious blends with others. I felt a similar, instant connection with Belcourt of Newport. The house holds a legacy of innovation and a tradition of influence. I believe that both of these local gems have an important place on my journey and will hopefully positively impact those who experience them.