FinancialsSep 01, 2022
Signet Sets Sights on Bridal Market as Q2 Sales SlipMajorsSep 07, 2022
Signet Seals the Deal on Blue Nile Acquisition
The jewelry giant has purchased Blue Nile for $360 million in cash as it looks to draw in younger, richer tech-savvy consumers.
Pictured is the Blue Nile showroom in Silicon Valley in California. Signet Jewelers recently finalized its acquisition of the retailer.
Akron, Ohio—Signet Jewelers Ltd. has finalized its acquisition of Blue Nile.
The jewelry giant announced its plan to acquire Blue Nile last month, signing a definitive agreement to buy the company for $360 million in cash.
Founded in 1999, the Seattle-based retailer got its start as an online-only operation but has since expanded to physical retail.
Its 23 showrooms stock little inventory, allowing customers to view products in person before ultimately purchasing them online.
“We can learn from this low inventory showroom model,” said Signet CEO Virginia Drosos on a recent earnings call. “We see incredible synergy opportunities with Blue Nile and James Allen.”
According to National Jeweler estimates, Blue Nile’s 2021 sales clocked in at $741.1 million, landing the retailer in the No. 10 spot on the magazine’s most recent list of $100 Million Supersellers.
Related stories will be right here …
The jewelry giant announced its plan to acquire Blue Nile last month, signing a definitive agreement to buy the company for $360 million in cash.
Founded in 1999, the Seattle-based retailer got its start as an online-only operation but has since expanded to physical retail.
Its 23 showrooms stock little inventory, allowing customers to view products in person before ultimately purchasing them online.
“We can learn from this low inventory showroom model,” said Signet CEO Virginia Drosos on a recent earnings call. “We see incredible synergy opportunities with Blue Nile and James Allen.”
According to National Jeweler estimates, Blue Nile’s 2021 sales clocked in at $741.1 million, landing the retailer in the No. 10 spot on the magazine’s most recent list of $100 Million Supersellers.
Signet said it scooped up the company in an effort to boost its bridal offerings and digital capabilities.
“It has the highest brand recognition of any digital pure-play jewelry retailer and expands the top end of our accessible luxury offerings,” said Drosos.
Its “Accessible Luxury” portfolio includes Jared, James Allen and recently acquired Diamonds Direct.
The company is also looking to reach a customer demographic that is younger, more affluent and ethnically diverse.
It’s official – Blue Nile is now part of the Signet family of banners. Blue Nile furthers our goal to be the growth and innovation leader of the jewelry industry by welcoming a new, younger, affluent and diverse customer and expanding our share of the jewelry market. (1/2) pic.twitter.com/VQIL24nfMn
— Signet Jewelers (@SignetJewelers) August 24, 2022
Drosos confirmed the acquisition had closed during the company’s second-quarter earnings call last week.
“We now expect the Blue Nile acquisition to be accretive through both revenue and cost synergies no later than Q4 of next year,” she said.
Chief Financial Officer Joan Hilson shared more details about the closing of the deal.
“We closed the transaction recently. Our team has been on the ground over the last week or so, really pulling together and working hand-in-hand with the Blue Nile team to put together our holiday plans,” said Hilson.
“Based on the work that we’ve done, we’re very excited about the opportunities for synergy and the ability to integrate the two banners with the James Allen team and really leveraging the synergies of the back office,” she added.
Blue Nile joins a list of recent acquisitions for Signet Jewelers, including Diamonds Direct and Rocksbox.
“We now expect the Blue Nile acquisition to be accretive through both revenue and cost synergies no later than Q4 of next year,” she said.
Chief Financial Officer Joan Hilson shared more details about the closing of the deal.
“We closed the transaction recently. Our team has been on the ground over the last week or so, really pulling together and working hand-in-hand with the Blue Nile team to put together our holiday plans,” said Hilson.
“Based on the work that we’ve done, we’re very excited about the opportunities for synergy and the ability to integrate the two banners with the James Allen team and really leveraging the synergies of the back office,” she added.
Blue Nile joins a list of recent acquisitions for Signet Jewelers, including Diamonds Direct and Rocksbox.
More on Majors
The Latest
WatchesFeb 24, 2026
Chrono24 Names New VP, U.S. General ManagerFormer Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.
IndependentsFeb 24, 2026
Sherry Smith Now Principal Partner at The Retail SmithsThe industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.
SourcingFeb 23, 2026
Designer Eddie Sakamoto, a Humble Artist, Dies at 72Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
Policies & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsIn a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
