Alex and Ani’s former 40 percent owner has sold half its stake to a British investment firm, in a deal that reportedly values the company at $1 billion.
A spokesperson for San Francisco–based JH Partners disputed one aspect of a Dec. 5 Reuters report that said the investment firm had sold its entire 40 percent stake in the charm company to London-based Lion Capital. JH continues to hold 20 percent of the company, the spokesperson said. The remaining 60 percent is held by founder and current CEO Carolyn Rafaelian, according to Reuters.
“The charm bracelet maker could be worth as much as $1 billion,” the news agency added, noting it is on track to do $350 million in sales this year. The JH spokesman declined comment on any numbers.
New 20 percent owner Lion Capital does not invest in any other jewelry brand, according to its site, but has investments in some apparel companies and was a previous investor in Jimmy Choo.
The deal represents a quick turnaround for JH, which bought its Alex and Ani stake in Oct. 2012.
Alex and Ani’s PR representative did not return a request for comment.