Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/109754
R E T A I L I N G T O D A Y in 1966 as a jewelry factory, and this is where Carolyn began working and developing her own eye for the merchandise. In 2004 she began designing her own pieces. Today her father remains majority owner and creative director of the company, but last year San Francisco–based private equity firm JH Partners acquired a minority stake. Ideally, the company seeks spaces measuring roughly 1,500 square feet, and best-in-class local boutiques and restaurants known to generate foot traffic are the ideal neighbors. Alex and Ani chooses markets primarily on the basis of proprietary benchmarks, but its consumer spectrum is broad. "Alex and Ani's products have a message and individual meaning to each person who makes a purchase, which allows the brand to transcend traditional retail customer profiles," Pierik said. "As Alex and Ani's product extensions hit the mar- ket, this customer profile is forecast to expand significantly — and [to] incorporate more male consumers, by the way." The store-within-a-store format has been an important component of the expansion. Alex and Ani jewelry can be found inside some Bloomingdale's, Henri Bendel and Nordstrom stores. The company is raising its profile in Southern California through these retailers with an eye to a later rollout of its own boutiques, Pierik says. Increasingly, brands seeking growth are taking control of the retailing end of things, according to Marshal Cohen, chief industry analyst at NPD Group. "Brands have started to recognize that there's a lot more money to be made by selling direct to the consumer," he said. "Accessories manufacturers have realized the need to go out and do it themselves, just like some of the big name brands — like Levi's, Coach and MAC Cosmetics — have had to go out and do it themselves." This trend is good news for landlords. "They are bringing in a full array of product that's going to offer the opportunity to drive more traffic," Cohen said. "The accessory business also is always changing and evolving with new collections, so it draws weekly traffic. Alex and Ani is already a known brand, and it's gaining momentum year after year. It's a really good draw for smaller mall space, which is always a challenge to rent out. So Alex and Ani is a really attractive tenant to landlords." How attractive? "It's like having an Apple store nearby, only smaller and, quite frankly, much cooler," said Pierik. "Alex and Ani is poised to bring back Main Street U.S.A., and that's a really exciting place to be today." SCT Master of Real Estate Development Executive Program a joint degree offered by the College of Architecture, Design and Construction and the College of Business MAKE PLACES, not projects. Curriculum focuses on sustainable and responsible real estate development practices. New class launches each May with rolling admissions. For more information visit: mred.auburn.edu Auburn University is an equal opportunity educational institution/employer. 20 SCT / M A R C H 2 0 1 3