Majors

Piercing Pagoda Has a New Name

MajorsAug 04, 2021

Piercing Pagoda Has a New Name

Plus, Signet took the final step in the process of fully outsourcing its credit offerings.

Piercing Pagoda, the Signet-owned kiosk brand, will now be called Banter by Piercing Pagoda, a nod to the personal relationship between the chain’s employees and its customers, Signet said.
Dallas— After 50 years Piercing Pagoda is undergoing a makeover as it looks to attract even more Gen Z and millennial customers.

The Signet Jewelers-owned chain of kiosk stores will now be called Banter by Piercing Pagoda.

The new name is a nod to the personal relationships between the retailer’s employees and its new and long-standing customers, said Signet.

The name change has already happened at around 100 of Piercing Pagoda’s more than 500 U.S. locations.

It’s being tested in New York, Chicago, Los Angeles, Seattle and other cities, and will gradually roll out to the full fleet.

“Our new Banter by Piercing Pagoda name is full of energy, invoking the excitement of playful conversation, like the adrenaline of a new piercing or piece of jewelry,” said Kecia Caffie, president of Banter by Piercing Pagoda, in a press release about the rebranding.

“Our customers are fiercely individual, creative people who inspire us to reject labels and celebrate our unique identities each day.” 

 Related stories will be right here … 

The change comes as part of the jewelry giant’s “Inspiring Brilliance” growth strategy, which aims to bolster its omnichannel presence and technologic capabilities and evolve its product offerings.

The brand, marked by a gold script capital letter “B” logo, will stock gender-neutral chains, charms, necklaces, and earrings.

Long known for its ear piercing services, the brand branched out to nose and facial piercings to meet rising consumer demand during the pandemic, while, it said, still following health and COVID-related safety protocols.

“Banter by Piercing Pagoda combines stylish designs and approachable service at affordable price points with tech-enabled stores and warm, modern service,” said Signet.

Of Signet’s nine jewelry brands, Piercing Pagoda has consistently been a top performer.

The brand had its strongest quarter ever in the first quarter of fiscal 2022 and, in fiscal 2021, saw its sixth consecutive year of positive same-store sales growth amid stable merchandise margins, said Signet.

This year, more than 135 Piercing Pagoda locations are on track to post $1 million in sales.

Signet plans to open as many as 100 additional locations in fiscal 2022 in regional malls.

Some of these new locations will be traditional stores instead of kiosks, complete with a piercing lounge and, in select locations, smart mirrors for virtual jewelry try-ons.

The brand caters to “tech-savvy Gen Z and millennial customers,” said Signet, and will be improving upon its mobile experience.

In fiscal 2021, Piercing Pagoda saw 140 percent year-over-year e-commerce growth, with mobile playing a big role in that.

Enhanced virtual capabilities, including sales and search, and an updated website are part of the digital overhaul.

In addition to its new name, Banter by Piercing Pagoda is introducing a new marketing campaign featuring “bold, diverse models who epitomize self-expression and pride—a hallmark of the brand.”

The campaign launched Monday in select locations.

Also this week, Signet Jewelers announced it has renegotiated its $1.5 billion asset-based lending facility, extending it by nearly two years to July 2026 for greater financial flexibility.

Signet also entered into new, long-term receivable purchase agreements, which improved the terms of the agreement and removed the consumer credit risk from its balance sheet.

The new agreements mark the final step in Signet fully outsourcing its credit offerings. 

Genesis remains its long-term third-party credit servicer and it also provides other payment options, including via Affirm and Progressive Leasing.

“These actions, as well as S&P’s recent upgrade of Signet’s issuer credit rating resulting from our enhanced financial profile, demonstrate the progress we are making with our Inspiring Brilliance growth strategy,” said Chief Financial and Strategy Officer Joan Hilson in a press release.

Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

Supplier BulletinMay 26, 2022
Extraordinary Italian Jewelry at JCK and COUTURE

Sponsored by Italian Trade Agency

SourcingMay 26, 2022
Q&A: Deciphering De Beers’ Blockchain Platform

David Prager virtually sat down with Editor-in-Chief Michelle Graff to answer questions about the rollout of Tracr at scale.

AuctionsMay 26, 2022
Bonhams New York Jewels Auction Is a White Glove Sale

Jewelry and objects belonging to Bette Midler, heiress Hélène Irwin Crocker Fagan, and Lady Sylvia Ashley were among the highlights.

Brought to you by
Dive into GIA’s Pearl Expertise

When it comes to knowing the identity and quality of your pearls, count on GIA as your independent pearl experts.

FinancialsMay 26, 2022
Movado Posts Record Q1 Sales Despite ‘Challenging’ US Market

The company opted not to raise its fiscal guidance, citing a slowdown in the U.S. market as a key reason.

Weekly QuizMay 26, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
TechnologyMay 26, 2022
State of Retail: The Pros and Cons of 4 Jewelry-Selling Platforms

From “old-school” eBay to new kid on the block 1stDibs, we asked jewelers about their experiences selling jewelry in non-traditional places.

Policies & IssuesMay 26, 2022
Barbara Wheat Named Executive Director of Ethical Metalsmiths

She has nearly 30 years’ experience in the gem and jewelry industry and a background in nonprofit management.

Brought to you by
A.I. Grading is Changing Conversations at the Retail Counter

Advanced technology levels the playing field, helping jewelers give customers what they want.

EditorsMay 25, 2022
7 Standout Tiaras in Sotheby’s Platinum Jubilee Exhibition

Senior Editor Brecken Branstrator chooses the pieces she’d most want to see in person.

IndependentsMay 25, 2022
The Mexican Shack to Close After 47 Years

Owner Steve Delzio shares his thoughts on retirement after nearly five decades in the jewelry industry.

IndependentsMay 25, 2022
Designer Theo Fennell Has Written a Memoir

“I Fear for This Boy” takes readers through the ups and downs of his business and is available for pre-order now.

IndependentsMay 25, 2022
MVEye, Wedding Report Partner on New Jewelry Research Platform

“Today’s Wedding Jewelry Consumer” shares data about engagement ring market size, lab-grown and natural diamonds, and more.

ColumnistsMay 24, 2022
The PR Adviser: 10 Questions to Contemplate

Columnist Lilian Raji wants to walk you through the customer journey. But first, she’d like you to answer a few questions.

Events & AwardsMay 24, 2022
8 Gold Jewelry Designers Unveil New Platinum Designs

Several Couture brands have partnered with Platinum Guild International ahead of the jewelry trade show.

Lab-GrownMay 24, 2022
Kendra Scott Unveils Lab-Grown Engagement Ring Collection

The jewelry company is moving into bridal just a month after branching out into the watch world.

SourcingMay 24, 2022
State of the Diamond Industry: Where Does Supply Go From Here?

The 2008 economic crisis, COVID-19, and sanctions on Russian goods have set the stage for an interesting decade for natural diamond supply.

Events & AwardsMay 24, 2022
WJA to Host Diversity Keynote at New Las Vegas Breakfast Event

The Generating Community Impact fundraiser on June 11 will feature Karine Bah Tahé of Blue Level Training.

WatchesMay 23, 2022
Steven Kaiser, Watch Industry Veteran and Beloved Mentor, Dies at 68

Kaiser, whose illustrious career spanned decades, died suddenly on Friday.

IndependentsMay 23, 2022
Long’s Jewelers to Open New Location

The family-owned jeweler is relocating its Braintree, Massachusetts, store to a new space.

IndependentsMay 23, 2022
Luxury Goods Veteran Olivier Stip Joins Chicago Jeweler CD Peacock

He will step into the retailer’s newly created role of chief development officer.

GradingMay 23, 2022
Gem-A Launches Digital Entry-Level Gemology Course

GemIntro is meant to give a broad introduction to gems and gemology.

Recorded WebinarsMay 20, 2022
Watch: Responsible Sourcing and the Gold Supply Chain

Three industry experts discuss “recycled” gold vs. mined, their challenges and benefits, and how jewelers can navigate the area.

FinancialsMay 20, 2022
Richemont’s 2022 Jewelry Sales in the Americas Nearly Double

Cartier, Van Cleef & Arpels, and Buccellati put on stellar performances.

AuctionsMay 20, 2022
Piece of the Week: ‘Birds in Flight’ by Oscar Heyman

The New York jeweler made this incredible, colorful Art Deco bracelet featuring tropical birds in 1927.

SurveysMay 19, 2022
5 Predictions for Jewelry Retail in the Second Half of 2022

From a slowdown in sales growth to rising costs, Fruchtman Marketing outlines its expectations for the second half of the year.

SourcingMay 19, 2022
De Beers’ Rough Sales Up 21% So Far This Year

One analyst cited rising diamond prices and the sanctions on Alrosa as contributing factors.

CollectionsMay 19, 2022
Brilliant Earth Collaborates with Jade Trau

The two have partnered on a capsule collection.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy