Signet Acquires Jewelry Subscription Service Rocksbox
The platform lets customers rent jewelry on a monthly basis, then swap it or buy it.
The purchase price was not disclosed.
Launched in 2012 by CEO Meghan Rose, the San Francisco-based company allows subscribers to rent different pieces of jewelry every month, swapping out their picks for something new the following month or buying the pieces.
For $21 per month, subscribers can rent up to three pieces from brands like Kate Spade and Kendra Scott.
“I started Rocksbox to make it easy and fun for women to discover jewelry that they love—and that won’t change,” said Rose in a press release about the acquisition.
“We’re excited to give even more members the opportunity to experiment with new, fashionable jewelry styles through a technology-enabled, personalized rental experience.”
The Rocksbox acquisition is expected to strengthen Signet’s current banners, which includes Kay Jewelers and Zales, by providing an additional point of entry for self-purchasing women.
The segment is “currently underdeveloped,” said Signet, and this could expand its share of the market.
“With jewelry rental subscription, Signet will tap into a highly engaged customer base, generate a new revenue stream, and bring yet another capability into its connected-commerce strategy, which is focused on serving customers whenever, wherever and however they want to engage with Signet and its retail banners,” said the company.
The acquisition follows the jewelry giant’s announcement about the next phase of its turnaround plan, “Inspiring Brilliance,” which prioritizes growth in the services category.
The company has said it is looking to expand in areas such as repair, warranty services and piercings, while also branching out into new services, like jewelry rental.
The Latest
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.