Alex and Ani cuts nine positions at Seven Swords Media unit

Alex and Ani LLC will cut nine jobs from its Seven Swords Media unit as it prepares to turn over much of its marketing work to an external advertising agency. The jewelry manufacturer said earlier this week it had selected MODCo Group of New York as its advertising agency of record following a search that was completed in April. More

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Alex and Ani cuts nine positions at Seven Swords Media unit

COURTESY SEVEN SWORDS MEDIA
ALEX AND ANI will absorb its subsidiary Seven Swords Media as it transfers much of its media marketing to New York advertising agency MODCo Group. Above, from left to right, Seven Swords Media CEO Antonio Lopes (who was among nine Seven Swords employees to be laid off during the transition), Vice President of Business Development Michael Mota and Vice President of Operations Dan Mercer.
Posted 5/23/14

(Updated, 12:06 p.m.)

CRANSTON – Alex and Ani LLC will cut nine jobs from its Seven Swords Media unit as it prepares to turn over much of its marketing work to an external advertising agency.

The jewelry manufacturer said earlier this week it had selected MODCo Group of New York as its advertising agency of record following a search that was completed in April. MODCo will lead the strategic creative development for Alex and Ani’s television, radio, print and online advertising channels, the company said, and will head all paid media buying across Alex and Ani’s digital platforms.

“Marketing today is about authentic conversations with customers, and MODCo is a pioneer in helping lifestyle brands to engage consumers with savvy and meaningful creative,” said Carolyn Rafaelian, the founder of Alex and Ani who took over as interim CEO following Giovanni Feroce’s departure in March. “We are pleased to be working with the MODCo Group, because they truly understand our positive energy brand and our unique business model.”

As the company transfers its media marketing onto MODCo, Alex and Ani will absorb its subsidiary Seven Swords Media into the company as a department within Alex and Ani. Nine positions at Seven Swords are being eliminated, including Seven Swords Media CEO Antonio Lopes.

Gregg Perry, a spokesman for Alex and Ani, said six Seven Swords employees will remain following the unit’s transition into a department within the parent company. Seven Swords will continue to operate out of its current headquarters in Providence, he said.

Alex and Ani bought a majority interest in Seven Swords in spring 2012 and helped grow the business into a nationally recognized marketing firm whose clients included The Paper Store, the U.S. Navy, Rhode Island School of Design, The Smithsonian Institution and Bryant University.

Seven Swords Media ranked third in the 2013 Providence Business News list of the fastest-growing companies in Rhode Island, after growing revenue 340 percent in 2012 to $8.1 million from $1.8 million in 2010.

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