The jewelry industry is not an archaic market, especially now that it’s experiencing quite an upward trend. Apart from the rising interest in air diamonds, it seems that the younger millennial market will be having more channels to get their jewelry fix. Signet Jewelers, one of the biggest operators of various jewelry brands, expands into the younger digital space through Blue Nile.
Did Signet Buy Blue Nile?
Signet Jewelers has recently acquired Blue Nile, adding the known brand to the 2,800 jewelry stores operating under the company. Following the $360 million acquisition, which will be finalized before 2022 ends, Blue Nile’s disruptor capabilities will come under Signet Jewelers.
According to Forbes, the acquisition also means that Signet Jewelers now adds more than 650,000 diamonds to its overall collection. Blue Nile’s three million and counting customer base will make Signet Jewelers reach an ever-transforming customer with a single click.
Signet Jewelers on a Roll: Paving the Way to Changing the Industry
Even with the different events happening all over the world, Signet Jewelers seems far from being done with its big movements in the industry. Before 2021 ended, the company also acquired a major store, Diamonds Direct, for $490 million. Its 25 retail stores now operate with Signet Jewelers, bringing in even more reach for the company and for fine jewelry.
What Makes Blue Nile a Major Acquisition?
Besides the big bucks that Signet Jewelers spent to acquire the brand, Blue Nile opens a new path for a younger market. When comparing the different jewelry brands and their digital footprints, Blue Nile appears to have the largest presence.
Its business operations have been quite a fan favorite, especially for the digital savvy diamond enthusiasts. If this is one of the highlights that made the brand appealing to Signet Jewelers, the experience may possibly be offered by its other operated brands. Or perhaps they may adapt a similar approach to create a uniformly expanding presence in the digital space.
More than expanding the age range and reach of its market base, Signet Jewelers also sees Blue Nile as a way to aggressively expand its bridal jewelry selections. A lot of the bridal options that Blue Nile currently offers may be appealing to the younger market. It offers minimalist earrings and bangles, understated but beautiful gemstone jewelry, and a quick guide to understanding what you want—if you haven’t decided yet.
What Companies are Owned by Signet Jewelers?
Blue Nile may be quite the big name, but Signet Jewelers has more brands under its belt that ring differently for various markets. For starters, James Allen operates with the company. Even with less than two decades under its belt, James Allen has proven to be quite a favorite among many jewelry enthusiasts.
Be it in their New York branch or online, there seems to be no stopping the orders from everywhere around the world. This may be partly due to the fact that James Allen also features conflict-free diamonds and a lifetime upgrade. These two features make it quite the catch among jewelry enthusiasts and collectors today.
Jared also identifies with Signet Jewelers as one of its main brands. The brand has carved a name for itself in the jewelry customization department. This niche recently boosted Signet Jewelers standing in the jewelry community, as it made handmade, bespoke jewelry even more accessible. Jared has a good standing with the younger market, with its use of 3D technology for artisanal jewelry and unique taste in design, all of which are accessible in 19 different stores from New York all the way to California.
If that’s not enough, Signet Jewelers also works with brands like Zales and Banter. Beyond the United States it also hold brands in the United Kingdom through Ernest Jones and Peoples.
Is Signet Jewelers the Same as Kay Jewelers?
Because of the high-end and high-profile brands under Signet Jewelers, sometimes, new jewelry enthusiasts may interchange their designations. Some may wonder if Signet Jewelers is similar or even the same company as Kay Jewelers. Rather than being the same company, Signet Jewelers is the parent company of Kay Jewelers.
For those who are only hearing about Kay Jewelers now, you may be surprised to learn that it is the largest selling jewelry brand in America. It started its operations in 1916, putting it as one of the older brands that still have a transformative presence in the industry.
While the “jewelers” in their company name makes it seem that they specialize only in fine jewelry, Kay Jewelers actually has quite an expansive product base. In fact, to date, it offers music jewelry boxes, silverware, and even radios.
The growing Signet Jewelers investor relations and clientele
Signet Jewelers prides itself for being the largest retailer of diamond jewelry. Many of its brands focus on delivering exquisite jewelry design. The company’s goal is to inspire with jewelry, to allow their patrons to practice self-love and loving others, through these precious gifts.