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
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
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.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
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.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
SourcingDec 30, 2025
India Chosen as KP Chair for 2026It marks the third time the country has headed the Kimberley Process. Ghana will serve as vice chair.
WatchesDec 30, 2025
Bulova, Stetson Collab on Watches With Western FlairThe new Bulova x Stetson designs highlight two animals often associated with the American West—the bison and the Texas Longhorn.
CollectionsDec 30, 2025
Rahaminov Diamonds Pops Up in FloridaIts residency at Yamron Jewelers will run through May 2026.
IndependentsDec 29, 2025
In Memoriam: Industry Friends We Lost in 2025From influential executives to innovative designers, we pay tribute to the people we said goodbye to this year.
MajorsDec 29, 2025
Tanishq Opens New Stores in Florida, VirginiaThe retailer is expanding into areas with large Indian and South Asian populations.
MajorsDec 29, 2025
Nanis Opens First Flagship Store The Italian brand has opened its first flagship amid the peaks of the Dolomites in Madonna di Campiglio, Italy.
SourcingDec 29, 2025
‘Unearthed: Raw Beauty’ Exhibition Opens at LA MuseumThe new curation at the Natural History Museum of Los Angeles County showcases rare gem and mineral specimens in their uncut, natural state.
CrimeDec 24, 2025
LA Jewelry District Couple Pleads Guilty to Hiding Millions from IRSThe couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.
SurveysDec 24, 2025
Consumer Confidence Falls Again in DecemberConsumers shared concerns about prices, inflation, tariffs, trade, and politics in the survey’s write-in response section.
