Sterling, Alex and Ani Settle Dispute

RAPAPORT... Sterling Jewelers has reached a mutually agreeable settlementwith Alex and Ani after a yearlong dispute over a supply deal. Judge Sara Lioi dismissed the case without prejudice,according to a February 14 motion Sterling, a division of Signet Jewelers, filedin an Ohio court. The companies will beartheir own legal costs. "The matter was resolved and settled to the parties' mutualsatisfaction," David Bouffard, Signet's vice president of corporate affairs,told Rapaport News Tuesday. Sterling first filed suit against Alex and Ani in January2018, after it failed to sell inventory of the brand that it had agreed tocarry. Sterling claimed the contract the companies had signed stipulated Alexand Ani would buy back unsold goods. Alex and Ani countersued in February of that year, maintainingSterling had breached the agreement by selling its merchandise at a discountand in stores that were not permitted under the contract. Sterling responded tothe countersuit later that month, asking the court to dismiss Alex and Ani'scounterclaims, and asserting it was the charm retailer that had violated thecontract. The terms of the settlement were not available, and Bouffarddeclined to provide further information. Alex and Ani and its attorneys did notrespond to requests for comment by press time. Image: Alex and Ani charm bracelet. (Alex and Ani)