PROVIDENCE – Alex and Ani founder Carolyn Rafaelian has started a new company called Metal Alchemist, she announced on Instagram on Tuesday.
“There is a lot going on and I thought I’d put some clarity on what I am doing,” she said.
“I am no longer designing for [Alex and Ani] … but I am excited to tell everyone that I have started a new company. … Metal Alchemist is where I plan on continuing all the love, and the efforts and designs that support things that are truly important to me, such as the Armenian Fund,” Rafaelian sad in her video.
Rafaelain said more updates will come on the new company.
Her departure from designing for Alex and Ani follows a series of lawsuits related to the company’s credit line. Rafaelian divested control of the company in a 2019 restructuring, ceding a controlling interest to Lion Capital.
