The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
Right now, the force is with Signet
I missed hearing the live broadcast of Signet Jewelers’ second quarter earnings call last week, as I was on vacation visiting my family in Pittsburgh and soaking in some very Western Pennsylvania-esque things: a Pirates game at PNC Park (highly recommended); Fallingwater, the spectacular home Frank Lloyd Wright designed for the Kaufmann family in the Laurel Highlands (highly recommended); and my extended family (less highly recommended.)
Notice that I said noteworthy, not surprising: It’s no shock that a company that has a history of hitting the right note with consumers—Open Hearts with Jane Seymour is just one example—continues to introduce lines with great potential. And it’s even less surprising now, considering Signet’s size (its 3,500 stores make it the world’s largest specialty jeweler by store count and second only to Chow Tai Fook in sales), spending power and vertical integration. (Signet became a De Beers sightholder last year.)
Here are a few of the product highlights that caught my ear on the earnings call.
--Alex and Ani. Let’s start off with the big one. As we reported (perhaps under-reported) last week, Signet CEO Mark Light said on the call that they would be testing the popular fashion bangle brand in 108 of the approximately 250 Jared the Galleria of Jewelry stores beginning mid-month. Following a question from an analyst, he made it clear that it wouldn’t be an Alex and Ani line designed exclusively for Jared but, rather, just an assortment of the brand’s already existing products.
--Star Wars. Go ahead. Watch the trailer for The Force Awakens below. I did while I was writing this, twice.
As everyone likely knows by now, the seventh installment in the epic space soap opera is set for release this December. Just this week, we’ve reported on two companies that have received licenses to sell Star Wars-themed fine jewelry, Berlin-based designer Malaika Raiss and Signet. Light said Kay Jewelers will be “one of select jewelers” that will peddle jewelry and beads based on the uber-popular movie franchise this holiday season.
WATCH: The trailer for Star Wars: The Force Awakens
Disney, which added Star Wars to its stable when paid $4 billion for Lucasfilm in 2012, is putting together a massive retail push for Star Wars VII, and analysts predict the new film could generate as much as $5 billion in merchandise sales in its first year of release.
The push actually starts today, Sept. 4, with the official release of The Force Awakens merchandise
I don’t know how sales of Star Wars jewelry will stand up to, say, toys, lunch boxes, backpacks, etc., but I think jewelers would be happy with even a small cut of that estimated $5 billion. Not to mention, what retailer wouldn’t want to be involved in any kind of event that gets consumers inspired to buy? Excited, must they be.
--Miracle Links. Miracle Links are circular pendants available in karat gold or set with colored gemstones and diamonds that are a subtle take on personalized jewelry, which continues to be popular. A new mom has one larger link that represents herself and can tack on additional links in varying metal and stone colors as additional children are born. I can see this product having widespread appeal.
--Chosen Diamond. Signet hasn’t released a ton of detail on this one just yet and so far the test market is pretty small, only 60 Jared stores. Light said it will “resonate with the sentimentalist customer that Jared attracts,” as customers will be able to trace the journey of their diamond from mine to market. It sounds a lot like Forevermark, which is still being tested in select Jared stores, four in Virginia and six in Maryland.
There’s also a “new must-have jewelry product” that Signet first mentioned at its investor conference in June and that Light referenced again in the call last week. Whatever this “must-have” item is, Signet will be selling it in all its stores in the U.S., Canada and the U.K. beginning in late October and will support it with “one of the most comprehensive marketing programs in the history of our company,” Light said.
Enjoy the long weekend. It is shaping up to be an interesting fall.
The Latest
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.