Shopping Centers Today

MAR 2013

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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R E T A I L I N G T O D A Y Glittering goal JEWELRY CHAIN ALEX AND ANI WANTS TO AT LEAST TRIPLE ITS STORE COUNT By Misty Milioto A LEX AND ANI PRESENTS itself as an eco-friendly jewelry retailer with some fairly sanguine themes — love, harmony, world peace — dominating its earrings, rings, necklaces and bracelets, all designed by company founder Carolyn Rafaelian. The chain operates nearly 30 company-owned stores throughout the U.S. and roughly 50 store-within-a-store units, plus some ambitious plans to mushroom over the next few years. "Alex and Ani's growth plans are very, very aggressive," said its director of real estate, Joe Pierik. "Therefore, expect distribution points to triple or quadruple within the next three years in all settings." 16 SCT / M A R C H 2 0 1 3 The company will be seeking to do most of this multiplying away from enclosed malls, however. "The foundation and core success of the brand resides with this Main Street–style of retailing," said Pierik. "Therefore, our strategy is to expand the brand to target these dynamic Main Street areas around the country, [rather than] enclosed malls or strip retail centers." The company has five such stores in Rhode Island, including its first, which opened in Newport in June 2009. But there are exceptions to every rule, of course, and Alex and Ani recently opened shops at two Taubman Centers malls: a 1,300-square-foot store at the new City Creek Center, in Salt Lake City, and a 1,500-square-foot shop at The Mall at Partridge Creek, in Clinton Township, Mich. Both of these represent the company's first time in those states. "These locations expand Alex and Ani's geographic footprint into two tremendous new market areas with flagship stores," Pierik said. "These locations enhance Alex and Ani's brand awareness, which in turn will create additional opportunities for the brand in the respective markets." Currently, the retailer is present in 15 states, but its greatest concentration is in the Northeast. "Alex and Ani is a truly unique brand, a perfect fit for Taubman's cutting-edge new developments," he said. "These retail opportunities appealed to Alex and Ani, because they are open-air environments and are contemporary examples that fall in line with Alex and Ani's gutsy, innovative and industry-leading Main Street strategy." Rafaelian grew up around jewelry. Her father, Ralph, founded the business

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