MajorsJul 13, 2021
Signet Lands on NRF’s Top 100 Retailers ListMajorsOct 07, 2021
Why Signet Is One of the ‘Best-Positioned’ Retailers This Holiday Season
In a recent note, Wells Fargo outlined how the jewelry giant avoided the supply chain woes currently plaguing retail.
A 1.25-carat oval diamond engagement ring in 18-karat rose gold from the new “Monique Lhuillier Bliss” collection at Signet-owned banner Kay Jewelers ($11,000). A recent note from Wells Fargo analysts delves into how Signet Jewelers avoided the supply chain issues hampering many retailers.
New York—Supply chain troubles are weighing on some retailers ahead of the holiday season, but Signet Jewelers is all set for a happy holiday, according to Wells Fargo.
On Monday, analysts sat down for a virtual investor meeting with Signet’s management, including CEO Gina Drosos, CFO Joan Hilson, and Vice President of Investor Relations Vinnie Sinisi, to talk about where the jewelry giant stands in the market.
“Signet is one of the few companies in our universe where supply chain disruptions are not having a material impact on the company’s business,” Wells Fargo said in an analyst note shared with National Jeweler.
The company has no exposure to Vietnam, a country hard-hit with supply chain struggles. Its raw material mining happens in India, Russia, Botswana, and Brazil, while its cutting and polishing takes place in India, China, Indonesia, The Philippines, Thailand, Israel, and Belgium.
Signet has a partially vertically integrated supply chain, giving the company more control over delivery times, the note states.
The retailer relies less on cargo ships for product transportation, which means it avoids port delays into the United States from Asia. Most of its products are sent via airfreight.
Signet also placed orders with its vendors early, with more than half of its holiday inventory already on hand.
“Signet is likely one of the best-positioned retailers heading into holiday regarding supply chain headwinds,” said the note.
The analyst note delves into other aspects of Signet’s business, including its service offerings.
There may be big money to be made in its services business, which includes repairs, jewelry care, extended service plans, warranty and insurance, and its customizations services, like through the new Jared Foundry.
The segment could reach $1 billion in revenue over the next few years, a marked difference from the $300 million it generated in the last fiscal year.
Wells Fargo estimates the U.S. jewelry service and repair business to be in the $3 billion range total, though it is “highly fragmented.”
As Signet is the market share leader, the company has the opportunity to gain greater market share by leveraging its size, making the most of its 1,400 “jewelry experts.”
Services also foster customer loyalty, said analysts, keeping shoppers in the Signet ecosystem.
The jewelry giant has also been prioritizing differentiating its banners, tailoring each to cater to a specific set of customers rather than cannibalizing each other.
The change has brought new customers to each banner, said the note, and has also been a winning strategy for retaining customers.
Related stories will be right here …
On Monday, analysts sat down for a virtual investor meeting with Signet’s management, including CEO Gina Drosos, CFO Joan Hilson, and Vice President of Investor Relations Vinnie Sinisi, to talk about where the jewelry giant stands in the market.
“Signet is one of the few companies in our universe where supply chain disruptions are not having a material impact on the company’s business,” Wells Fargo said in an analyst note shared with National Jeweler.
The company has no exposure to Vietnam, a country hard-hit with supply chain struggles. Its raw material mining happens in India, Russia, Botswana, and Brazil, while its cutting and polishing takes place in India, China, Indonesia, The Philippines, Thailand, Israel, and Belgium.
Signet has a partially vertically integrated supply chain, giving the company more control over delivery times, the note states.
The retailer relies less on cargo ships for product transportation, which means it avoids port delays into the United States from Asia. Most of its products are sent via airfreight.
Signet also placed orders with its vendors early, with more than half of its holiday inventory already on hand.
“Signet is likely one of the best-positioned retailers heading into holiday regarding supply chain headwinds,” said the note.
The analyst note delves into other aspects of Signet’s business, including its service offerings.
There may be big money to be made in its services business, which includes repairs, jewelry care, extended service plans, warranty and insurance, and its customizations services, like through the new Jared Foundry.
The segment could reach $1 billion in revenue over the next few years, a marked difference from the $300 million it generated in the last fiscal year.
Wells Fargo estimates the U.S. jewelry service and repair business to be in the $3 billion range total, though it is “highly fragmented.”
As Signet is the market share leader, the company has the opportunity to gain greater market share by leveraging its size, making the most of its 1,400 “jewelry experts.”
Services also foster customer loyalty, said analysts, keeping shoppers in the Signet ecosystem.
The jewelry giant has also been prioritizing differentiating its banners, tailoring each to cater to a specific set of customers rather than cannibalizing each other.
The change has brought new customers to each banner, said the note, and has also been a winning strategy for retaining customers.
While the note focuses on Signet, it also highlights the strength of the jewelry category overall.
“Jewelry has been a clear COVID category winner,” said the note, highlighting its strong double-digit growth over the last six to eight months.
While the strength of the overall category may have helped to lift Signet, the management team told analysts it intends to continue its growth trajectory, even as spending may shift to experiential purchases.
The company is using its data to better understand its consumers, which is evidently working as store productivity increases and new customers flock to its banners, as per the note.
Signet will also use its e-commerce capabilities to scoop up more market share.
The mid-market jewelry category is worth around $35 billion, with nearly 70 percent of the market share held by less tech-savvy independents, analysts noted.
“As consumers continue to become more comfortable buying jewelry online, Signet is positioned to capitalize on this trend and take share from independents who lack e-commerce capabilities,” said the note.
“The company has numerous competitive advantages that cannot be replicated by its smaller, independent and regional competitors, including robust digital and omnichannel capabilities.”
However, competition from department stores entering the market and digital-only companies could be an impediment to Signet achieving its goal of a 9 percent market share, up from its current 6 percent.
Wells Fargo maintained its “Overweight” rating on the company with a price target of $100.
More on Majors
The Latest
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
EditorsNov 07, 2025
Piece of the Week: An MVP’s Sapphire Tennis Necklace At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.
IndependentsNov 07, 2025
Foundrae’s New Palm Beach Location Is a ‘Golden Solarium’The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.
FinancialsNov 07, 2025
Watches of Switzerland’s H1 Sales Up 8%The retailer also shared an update on the impact of tariffs on watch customers.
SourcingNov 06, 2025
Pink Tourmaline Bracelet, Emerald Suite Take Top Spectrum Honors Pink and purple stones were popular in the AGTA’s design competition this year, as were cameos and ocean themes.
IndependentsNov 06, 2025
Greenwich St. Jewelers Hosts Raffle Supporting Food RescueAll proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.
IndependentsNov 06, 2025
Cornell’s Jewelers Names New PresidentCourtney Cornell is part of the third generation to lead the Rochester, New York-based jeweler.
SourcingNov 06, 2025
De Beers’ Production, Sales Increase in Q3 De Beers also announced more changes in its upper ranks ahead of parent company Anglo American’s pending sale of the company.
WatchesNov 05, 2025
Shinola President Steps Down Just as He Starts Former Signet CEO Mark Light will remain president of Shinola until a replacement for Ulrich Wohn is found.
AuctionsNov 05, 2025
Taylor Swift’s Engagement Ring Designer Makes Her Auction DebutKindred Lubeck of Artifex has three rings she designed with Anup Jogani in Sotheby’s upcoming Gem Drop sale.
