Carolyn Rafaelian

Carolyn Rafaelian
Citizenship United States
Alma mater The American College in Los Angeles
Occupation Entrepreneur
Known for Founding Alex and Ani
Net worth Increase US$700 million (June 2016)[1]
Religion Christian (Armenian Apostolic Church[2])

Carolyn Rafaelian is an American-Armenian designer, philanthropist, and business woman. She is the founder of the accessories and jewelry company Alex and Ani,[3] as well as the current owner of the Belcourt Castle and Carolyn’s Sakonnet Vineyards.

Background

Rafaelian's father opened a jewelry factory in 1966, in which Rafaelian and her sister worked as punishment when they misbehaved.[4] Over time she helped her father design pieces and produced original designs herself for her father's jewelry manufacturing company[5] Cinerama. For high school, 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 (where she was a member of the Alpha Xi Delta sorority), and then she transferred to and graduated from The American College in Los Angeles.[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, Rebecca. Rafaelian's designs became the main seller for the company, keeping it afloat.[7]

Business career

In 2004 Rafaelian founded Alex and Ani, her own private jewelry line named after her two eldest daughters. She has stated that the line was not only named after her two daughters, but inspired by her desire to leave a legacy for them once they were older.[5] The brand started with five cocktail rings and eventually expanded into a full line of jewelry anchored by its patented expandable wire bangle.[7] She is also the owner of the Rhode Island winery Carolyn’s Sakonnet Vineyard, formerly known simply as Sakonnet Vineyards.[8] The Patriot Ledger wrote that, "The vineyard produces 13 wines, including a sparkling wine, its signature Vidal Blanc and the one it may be most well known for among locals, Eye of the Storm, a blush wine born out of 1991's Hurricane Bob churning up the vineyard's white and red grapes."[9]

Rafaelian also owns a cafe franchise called Teas and Javas.[10] The cafes are attached to Alex and Ani stores in some cases, and independent in others. The cafes also film patrons in their shops in order to create promotional materials for the company moving forward.[11] Rafaelian has been interviewed by newspapers regarding current events, including the New York Daily News.[12] Rafaelian received the 2012 Rhode Island Small Businessperson of the Year award from the Small Business Administration for her work with Alex and Ani.[13] That year she also received the Ernst & Young Entrepreneur of Year in the products category for New England.[14]

Personal life

Rafaelian is the owner of a 60-room historic mansion, the Belcourt of Newport, formerly known as Belcourt Castle, in Newport, Rhode Island. The Belcourt is a place dedicated towards public receptions,[15] originally built in 1894.[16] It is set to open for public tours in the summer of 2014, after having undergone a significant restoration effort.[17] Rhode Island Monthly described Rafaelian's personal 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.[2]

Rafaelian was listed 22nd in Forbes America’s Richest Self-Made Women in 2016. The magazine estimated her net worth at $700 million in June 2016.[1]

References

  1. 1 2 O'Connor, Clare (3 June 2016). "Alex And Ani's Carolyn Rafaelian Joins Self-Made List As Jewelry's Richest Woman". Forbes.
  2. 1 2 M.E. REILLY-MCGREEN. "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.". Rhode Island Monthly. Retrieved August 5, 2013.
  3. ↑ Dunn, Laura (21 April 2016). "Women in Business Q&A: Carolyn Rafaelian, Founder, CEO and CCO, Alex and Ani". The Huffington Post.
  4. ↑ http://www.marketplace.org/topics/business/rhode-island-hard-hit-recession-slow-recover
  5. 1 2 Michelle Smith (June 30, 2009). "Interview: Carolyn Rafaelian of Alex and Ani". The Gloss. Retrieved August 5, 2013.
  6. ↑ "Alex & Ani: A Vital Force in Rhode Island". Quad Angles. Spring 2012. Retrieved August 5, 2013.
  7. 1 2 Leigh Buchanan (April 2013). "The Disciplined and the Divine: An Unlikely Partnership". Inc. Magazine. Retrieved August 5, 2013.
  8. ↑ Phillip Silverstone (August 3, 2013). "Wining about the Good Life: The Genius of Wine". Montgomery News. Retrieved August 5, 2013.
  9. ↑ Linda Murphy (July 6, 2013). "Alex and Ani founder making her mark at 'Carolyn's' Sakonnet Vineyards - Quincy, MA - The Patriot Ledger". Patriot Ledger. Retrieved August 5, 2013.
  10. ↑ JUDITH OHIKUARE (May 31, 2013). "Alex and Ani CEO: 'My Job Was to Discourage People'". CEO Magazine. Retrieved August 5, 2013.
  11. ↑ Philip Eil (September 18, 2013). "It's Alex and Ani's state... ...we only live in it. An in-depth look at the 'positive energy' powerhouse". The Providence Phoenix. Archived from the original on October 4, 2013. Retrieved October 2, 2013.
  12. ↑ Jose Martinez (February 15, 2010). "One-of-a-kind Vancouver Olympic medals get mixed reviews". New York Daily News. Retrieved August 5, 2013.
  13. ↑ "New Bedford-native named Mass. Small Business Person of Year". South Coast Business Bulletin. March 23, 2012. Retrieved August 5, 2013.
  14. ↑ "Rafaelian named Ernst & Young Entrepreneur of Year". Providence Business News. June 25, 2012. Retrieved August 7, 2013.
  15. ↑ Darrell Hofheinz (January 25, 2013). "Rafaelian's new townhouse: Location was key". Palm Beach Daily News. Retrieved August 5, 2013.
  16. ↑ Bill Tomison (November 12, 2012). "Alex and Ani owner buys Belcourt Castle". WPRI. Archived from the original on July 19, 2013. Retrieved August 5, 2013.
  17. ↑ Penelope Green (September 19, 2013). "Ghosts Be Gone: Belcourt Castle in Newport Gets a Face-Lift". New York Times. Retrieved September 23, 2013.


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