Alex and Ani Consolidates Media Division, Eliminates Nine Jobs

Cranston-based Alex and Ani parted ways with former CEO Giovanni Feroce more than a month ago and signs of change are beginning to appear for the jewelry and lifestyle company.

The company announced this week that it is "absorbing" operations of one of its subsidiaries, Seven Swords Media, and has signed up with New York-based MODCo Group to handle all of its advertising.

"Marketing today is about authentic conversations with customers, and MODCo is a pioneer in helping lifestyle brands to engage consumers with savvy and meaningful creative," said Carolyn Rafaelian, Founder, Creative Director and Chief Executive Officer of Alex and Ani. "We are pleased to be working with the MODCo Group because they truly understand our positive energy brand and our unique business model. We are excited to see how they are going to help us grow to the next level."

Seven Swords Media, which had been handling marketing and advertising for the company, producing its Super Bowl commercial and other ventures, will now be folded into the company to "support the company's core products," Rafaelian said.

The move includes the elimination of nine positions, including Seven Swords CEO Antonio Lopes and the company's CFO/COO.

Seven Swords will become a division within Alex and Ani, which will reportedly streamline business operations and increase efficiency. 

The eliminated positions were duplicative, Rafaelian said.

"Seven Swords Media was responsible for our highly successful 2014 Super Bowl television commercial, and their creative work continually captures the spirit and positive energy of Alex and Ani," Rafaelian said. "As we bring MODCo's resources to bear on behalf of Alex and Ani, the creative combination of external and internal support will help to position and define our brand for future growth."