Alex and Ani, once popular for its expanded charm bracelets and a smaller competitor of the global Pandora chain with its lab-grown diamonds, is closing stores and its Rhode Island headquarters as it assesses the state of its business in a challenging post-pandemic environment. The company, which filed for bankruptcy court protection in 2021, will close 20 locations, leaving seven open.
A new global study by IBM found that 61% of CPGs and retailers are purposefully aligning sustainability and operational goals: 77% said sustainability investments will accelerate business growth. Luq Niazi, a global managing partner at IBM Consulting, talks about how companies are allocating resources for sustainability, and how to communicate your efforts to consumers without greenwashing.
Pattern, which helps brands expand and grow revenue on marketplaces and other channels, has raised $225 million, bringing its total valuation to over $2 billion as it sees its role as a market accelerator as a more logical path to success than the growing ranks of Amazon brand aggregators.