The National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.
Sterling Suing Alex and Ani for Breach of Contract
Alex and Ani went to Jared, and it didn’t go so well.
Akron, Ohio--Alex and Ani went to Jared and, apparently, it didn’t go so well.
Court papers filed in federal court in Ohio show that Sterling Jewelers Inc., operator of the Jared the Galleria of Jewelry chain, is suing the Providence, Rhode Island-based bangle brand for breach of contract.
Sterling, a wholly owned subsidiary of Signet Jewelers Ltd., and Alex and Ani inked an agreement in August 2015 to do a test run of the brand’s bangles in about 100 Jared stores.
Under
The merchandise didn’t move for Sterling, with the retailer stating in its lawsuit that, “because of the Alex and Ani sales terms, Sterling encountered difficulty selling the products and sales of the products soon began underperforming and continued to underperform into 2016.”
Sterling also stated in the suit that Alex and Ani’s “ongoing concerns about possible negative effect on its brand” prevented it from selling its backlog of inventory to a third-party seller.
Between this and the restrictions on discounting, the retailer was sitting on as much as $6 million of Alex and Ani inventory at one point.
In July 2016, about a year after the initial agreement was reached, Sterling and the bangle brand reached an agreement whereby Alex and Ani would buy back $3 million in merchandise.
The following month, Sterling returned the first shipment of jewelry, worth nearly $900,000. Alex and Ani accepted the shipment, and a company representative told Sterling it would get its money as soon as the shipment was processed.
More than a year later, Sterling still has not received its money for the first shipment, court papers state, nor has Alex and Ani repurchased the rest of the $3 million in merchandise in the agreement.
At the end of August 2016, Sterling terminated its agreement with Alex and Ani, then attempted to “mitigate its damages” by discounting the Alex and Ani jewelry so the retailer could move it, but was hit with multiple cease-and-desist letters by Alex and Ani, which were “wrongfully claiming” Sterling was violating their agreement.
Sterling is seeking about $2.6 million in damages plus interest and attorneys’ fees, as set forth in the 2015 agreement.
Alex and Ani’s attorney, Mark J. Geragos, of Los Angeles law firm Geragos & Geragos, said Wednesday that his client and Sterling Jewelers already have engaged in “very cordial and informal” talks, and he expects the lawsuit will end up getting dismissed quickly.
Sterling Jewelers Inc. originally filed suit against Alex and Ani LLC in the Court of Common Pleas for Summit County, Ohio, the county where Signet is headquartered, in November.
The case was moved to federal court in December at Alex and Ani’s request.
The Latest

The 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.

Rio Tinto unearthed the diamond at its Diavik mine in Canada’s Northwest Territories.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The multisensory experience, open April 8-13, will feature the brand’s silver creations among dream-like scenes of natural landscapes.


The virtual event will take place April 7 at 3 p.m.

The pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.

The educational event will take place in Charlotte, North Carolina, this May.

The independent jeweler first opened its doors in 1888.

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.

The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.