CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
MajorsFeb 27, 2019
Sterling, Alex and Ani Lawsuit Settled
The case has been closed after more than a year of litigation and back-and-forth breach of contract claims.
Akron, Ohio—The lawsuits between Signet-owned Sterling Jewelers Inc. and Alex and Ani LLC has ended with a fizzle instead of a bang after about 14 months of litigation.
The case was dismissed with prejudice by Judge Sara Lioi of the Northern District of Ohio federal court, meaning it can’t be tried again.
No specific settlement details were made public, though it is known that each party agreed to pay its own legal fees.
The legal drama dates back to August 2015 when Sterling Jewelers agreed to sell Alex and Ani’s bangles in 100 Jared stores in a test-run trial.
Per the agreement, the bangles could not be marked down or sold at outlets.
However, Sterling claimed these restrictions cut into sales, leaving the retailer with as much as $6 million in unsold Alex and Ani inventory.
In July 2016, the parties reached an agreement for Alex and Ani to buy back about $3 million in merchandise.
Sterling sent back around $900,000 in inventory, which Alex and Ani accepted, but had not paid for more than a year later.
Sterling terminated the agreement in August 2016 and discounted Alex and Ani’s merchandise to try to recoup some of its losses, despite several cease-and-desist letters from the jewelry brand.
In November 2017, Sterling filed suit against Alex and Ani in the Court of Common Pleas for Summit County, Ohio, the county where Signet is headquartered, accusing it of breach of contract. The case was moved to federal court in Ohio the following month at Alex and Ani’s request.
The Sterling suit asked for about $2.6 million in damages, plus interest and attorneys’ fees.
Alex and Ani fired back with a counterclaim against Sterling parent company Signet Jewelers Ltd., arguing that Sterling breached the contract by selling through “unauthorized channels.”
Alex and Ani’s counterclaim states that it became aware on Aug. 26, 2016 that Sterling was selling 459 of its bangle styles on Jared.com at a discount, but had not terminated the agreement until Aug. 30, 2016.
“It is apparent from the timing that Sterling terminated the agreements in an attempt to avoid the consequences of breach of the agreements,” the countersuit stated.
The attorneys representing Alex and Ani did not respond to a request for comment regarding the settlement.
Signet Vice President of Corporate Affairs David Bouffard said: “The matter was resolved and settled to the parties’ mutual satisfaction.”
More on Majors
The Latest
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
Weekly QuizMay 02, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
AuctionsMay 02, 2024
Vintage Baume & Mercier With Ties to Elvis Sells for $7K Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
IndependentsApr 29, 2024
Venus Jewelers Relocating After 45 YearsThe retailer is moving to a newly designed space in the same shopping center.
SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFGifts that are unique and thoughtful are top of mind this year, according to the annual survey.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
