Carolyn Rafaelian Explained

Carolyn Rafaelian
Birth Date:[1]
Citizenship:American
Alma Mater:American College in Los Angeles
Occupation:Entrepreneur
Known For:Founder and 80% owner, Alex and Ani
Children:3

Carolyn Rafaelian is an American-Armenian entrepreneur and businesswoman. She is the founder of the accessories and jewelry company Alex and Ani,[2] and the owner of the Belcourt of Newport, Bar and Board Bistro in Newport, Rhode Island and Carolyn's Sakonnet Vineyards.

Background

Rafaelian's father opened a jewelry factory in 1966, Cinerama Jewelry, in which Rafaelian and her sister worked.[3] Over time she helped her father design pieces and produced original designs herself for her father's jewelry manufacturing company.[4] She attended Prout Memorial High School for Girls (later known as The Prout School). She attended the University of Rhode Island between 1987 and 1989, and then she transferred to and graduated from the American College for the Applied Arts in Los Angeles.[5] [6] In 1994 she joined her father's business, and eventually began to work on her own line. In 2002 Rafaelian became co-owner of Cinerama with her sister. Rafaelian's designs became the main seller for the company,[7] and in 2016 Alex and Ani bought the manufacturing facility for an undisclosed sum.[8]

Business career

In 2004 Rafaelian founded Alex and Ani, a jewelry line named after her two eldest daughters. The brand started with five cocktail rings and expanded into a full line of jewelry anchored by its patented expandable wire bangle.

Rafaelian has been interviewed by newspapers regarding current events, including the New York Daily News.[9] Rafaelian received the 2012 Rhode Island Small Businessperson of the Year award from the Small Business Administration for her work with Alex and Ani,[10] and also the Ernst & Young Entrepreneur of Year in the products category for New England.[11] Her firm's revenue grew from $5 million in 2010 to over $500 million in 2016 and the company's Charity By Design initiative, where 20% of sales go to charity, makes up 20% of sales.[12]

Rafaelian owns Bar and Board Bistro in Newport and a cafe franchise called Teas and Javas;[13] some of its cafes are attached to Alex and Ani stores, and some are independent.[14] She is also the owner of the Rhode Island winery Carolyn's Sakonnet Vineyard, purchased in 2012 which features wine making, dining area and locally sourced foods.[15] [16] [17] [18] Since taking over, the vineyard has won a number of awards in international competition.[19] [20]

Personal life

Rafaelian is divorced from her first husband.

Rafaelian is the owner of a 60-room mansion, the Belcourt of Newport, formerly known as Belcourt Castle, in Newport, Rhode Island, built in 1894.[21] [22] [23]

Rhode Island Monthly described Rafaelian's charitable work as including "Project USA, a nonprofit, which has raised funds for the victims of Hurricane Katrina, survivors of breast cancer, and endangered species" as well as separate projects with the Humane Society of the United States.[24]

Rafaelian was listed 22nd in Forbes America's Richest Self-Made Women in 2016, with net worth estimated at $700 million in June 2016.[25] In May 2017, she was recognized by the David Lynch Foundation for her humanitarian efforts.[26] In June 2018, Rafaelian was estimated to be worth $1 billion, and 18th on the Forbes list of America's richest self-made women, owning 80% of Alex and Ani. By June 2019 her net worth had dropped to an estimated $520 million.[27]

Notes and References

  1. Web site: Carolyn Rafaelian . Forbes.com . 2017-03-13.
  2. News: Dunn. Laura. Women in Business Q&A: Carolyn Rafaelian, Founder, CEO and CCO, Alex and Ani. The Huffington Post. 21 April 2016.
  3. Web site: Tracey Samuelson . Rhode Island, hard hit by recession, slow to recover . Marketplace.org . 2015-04-23 . 2017-03-13 . https://web.archive.org/web/20151221130542/http://www.marketplace.org/topics/business/rhode-island-hard-hit-recession-slow-recover . 2015-12-21 . dead .
  4. Web site: Interview: Carolyn Rafaelian of Alex and Ani . June 30, 2009 . August 5, 2013 . The Gloss . Michelle Smith . https://web.archive.org/web/20160304074855/http://www.thegloss.com/2009/06/30/fashion/interviewcarolyn-rafaelian-of-alex-and-ani/ . March 4, 2016 . dead .
  5. Bangle Billionaire: How Alex And Ani Founder Carolyn Rafaelian Built An American Jewelry Empire . Forbes.com . 2017-06-19.
  6. Web site: Alex & Ani: A Vital Force in Rhode Island . Spring 2012 . August 5, 2013 . Quad Angles.
  7. The Disciplined and the Divine: An Unlikely Partnership . April 2013 . Leigh Buchanan . August 5, 2013 . Inc. Magazine.
  8. Web site: Alex and Ani Buys Rafealian's Cinerama - May be Precursor to a Public Offering . GoLocalProv . 2016-02-06 . 2017-06-19.
  9. News: One-of-a-kind Vancouver Olympic medals get mixed reviews . Jose Martinez . . August 5, 2013 . February 15, 2010.
  10. Web site: New Bedford-native named Mass. Small Business Person of Year . March 23, 2012 . August 5, 2013 . South Coast Business Bulletin . September 21, 2013 . https://web.archive.org/web/20130921053335/http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20120323/SCBULLETIN/204020311 . dead .
  11. News: Rafaelian named Ernst & Young Entrepreneur of Year . June 25, 2012 . August 7, 2013 . Providence Business News . https://web.archive.org/web/20140203000419/http://www.pbn.com/Rafaelian-named-Ernst-Young-entrepreneur-of-the-year,68569 . February 3, 2014 . dead .
  12. From Sheryl Sandberg To Beyonce: The 60 Richest, Most Successful Self-Made Women In America . Forbes.com . 2017-06-19.
  13. Web site: Alex and Ani CEO: 'My Job Was to Discourage People'. Ohikuare. Judith. May 31, 2013. CEO Magazine. August 5, 2013. https://web.archive.org/web/20161220081037/http://www.ceo.com/flink/?lnk=http%3A%2F%2Fwww.inc.com%2Fjudith-ohikuare%2Falex-ani-carolyn-rafaelian-giovanni-feroce.html&id=301408. December 20, 2016. dead.
  14. Web site: It's Alex and Ani's state... ...we only live in it. An in-depth look at the 'positive energy' powerhouse. Philip Eil. September 18, 2013. The Providence Phoenix. https://web.archive.org/web/20131004212804/http://providence.thephoenix.com/news/155681-its-alex-and-anis-state/. October 4, 2013. dead. October 2, 2013.
  15. News: Wining about the Good Life: The Genius of Wine. Phillip Silverstone. August 3, 2013. August 5, 2013. Montgomery News.
  16. Web site: Sakonnet wines have won many awards.
  17. Web site: Alex And Ani's Sakonnet Vineyards Purchase Final. 27 December 2012 . 2017-05-16.
  18. News: Alex and Ani founder making her mark at 'Carolyn's' Sakonnet Vineyards. Murphy. Linda. The Herald News, Fall River, MA. 2017-05-16. en.
  19. News: GoLocalProv Food Carolyn's Sakonnet Vineyard Wins Big at Int'l Wine Competition. Aherne. Kevin. GoLocalProv. 2017-05-16. en.
  20. News: R.I. wineries winners at international wine contest. Editor. Gail Ciampa Journal Food. providencejournal.com. 2017-05-16. en.
  21. News: Ghosts Be Gone: Belcourt Castle in Newport Gets a Face-Lift . Penelope Green . September 23, 2013 . September 19, 2013 . The New York Times.
  22. News: Rafaelian's new townhouse: Location was key . Darrell Hofheinz . August 5, 2013 . January 25, 2013 . . August 8, 2016 . https://web.archive.org/web/20160808053517/http://www.palmbeachdailynews.com/news/lifestyles/home/rafaelians-new-townhouse-location-was-key/nT6W6/ . dead .
  23. News: Alex and Ani owner buys Belcourt Castle . Bill Tomison . August 5, 2013 . November 12, 2012 . . dead . https://web.archive.org/web/20130719215452/http://www.wpri.com/dpp/news/local_news/east_bay/newport-alex-and-ani-owner-carolyn-rafaelian-buys-belcourt-castle-mansion . July 19, 2013 .
  24. Web site: Room at the Top: It takes more than a great idea to create a million-dollar business. You need passion, luck and drive, as these highly successful women have learned. Here are their secrets. . August 5, 2013 . Reilly-McGreen . M.E. . . https://web.archive.org/web/20130921054129/http://www.rimonthly.com/core/pagetools.php?pageid=4544&url=%2FRhode-Island-Monthly%2FJanuary-2008%2FRoom-at-the-Top%2F&mode=print . September 21, 2013 . dead .
  25. News: O'Connor. Clare. Alex And Ani's Carolyn Rafaelian Joins Self-Made List As Jewelry's Richest Woman. Forbes. 3 June 2016.
  26. Web site: Asher . Jane . Gisele Bundchen Talks the Importance of Meditation . InStyle.com . 2017-05-10 . 2017-06-19.
  27. Carolyn Rafaelian . Forbes.com . 2017-06-19.

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