It is located in Marin County, California.
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
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.