U.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.
Forbes List of Wealthiest Women Includes 2 from Jewelry
Alex & Ani founder Carolyn Rafaelian and Kendra Scott both are new to the Forbes list of the richest self-made women in America.

New York--Forbes has released its list of the richest self-made women in United States again, and this year’s list includes two women from the jewelry world.
Alex & Ani founder and CEO Carolyn Rafaelian is at No. 18 (with a net worth of $1 billion), while Kendra Scott, who started her eponymous brand in 2002, is listed at No. 36 (with a net worth of $500 million).
To compile the women’s net worth, Forbes said it valued private companies by talking to a variety of outside experts and comparing the companies with public competitors, and calculated the stakes in public companies using stock prices from April 28.
To be eligible for the list, women had to have “substantially made their own fortunes.”
In cases in which the women started businesses with, and still share with, their husbands, Forbes assigned them half of the combined wealth. For entertainers, the estimates are based on their net lifetime earnings. Real estate, art and other assets also were factored in where applicable.
The minimum net worth needed to make this year’s list was $260 million, an increase from $250 million in 2016.
Rafaelian was one of two billionaires added to the list in 2017 (the other was Eren Ozmen of aerospace and defense contractor Sierra Nevada Corp.) and was even featured on the cover of the Forbes issue featuring the list. The magazine’s story on the “bangle billionaire,” as they refer to her, also briefly touches on Rhode Island’s costume jewelry manufacturing history because Alex & Ani is based in Cranston.
Scott also was new to the list this year.
What’s interesting about the inclusion of Rafaelian and Scott on the list is that their brands were built on affordably priced jewelry.
The popular Alex and Ani sells bangles ranging from about $32 to $38 at retail, and while Kendra Scott does use real gemstones in some cases and also has a line of fine jewelry, her brand was built on her collection priced around $150 and below (and the popularity of its create-your-own-piece feature).
Overall, the list’s top five is (mostly) full of surprises.
At No. 1 is Marian
She’s followed by Diane Hendricks, co-founder and chairman of ABC Supply, one of the largest wholesale distributors of roofing, siding and windows in America ($4.9 billion); Judy Love, who opened and ran a chain of gas stations with her husband ($2.9 billion); Oprah Winfrey ($2.9 billion); and Doris Fisher, co-founder of fashion retailer Gap ($2.7 billion).
There are some others with ties to jewelry on the list, such as Meg Whitman, best known for growing eBay in her role as CEO, and designer Vera Wang, as well as some not-so-surprising celebrity entries like Madonna, Beyoncé and Taylor Swift.
There are 60 women on the list with a combined net worth of $61.5 billion, Forbes said, noting that 27 percent came from the fashion and retail space, while 18 percent are in tech and 17 percent in media.
The full list can be found on Forbes.com.
The Latest

Sapphire’s variety of colors make it the perfect birthstone for September.

The retailer has raised its guidance after seeing total sales increase 3 percent in the second quarter, beating expectations.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

Niccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.


The three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.

The collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

The highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.

CEO Efraim Grinberg noted a resurgence in the fashion watch market.

The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.

Sponsored by Clientbook

It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.

President Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.

Former Free People buyer Afton Robertson-Kanne recently joined the retailer.

The jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.

The singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.

Dubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.

Plans for dining out, booking vacations, and buying big-ticket items were down.

The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.

Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.

The Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.

The family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.

In his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.

The new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.

The Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.

Wrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.