The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Right now, the force is with Signet
I missed hearing the live broadcast of Signet Jewelers’ second quarter earnings call last week, as I was on vacation visiting my family in Pittsburgh and soaking in some very Western Pennsylvania-esque things: a Pirates game at PNC Park (highly recommended); Fallingwater, the spectacular home Frank Lloyd Wright designed for the Kaufmann family in the Laurel Highlands (highly recommended); and my extended family (less highly recommended.)
Notice that I said noteworthy, not surprising: It’s no shock that a company that has a history of hitting the right note with consumers—Open Hearts with Jane Seymour is just one example—continues to introduce lines with great potential. And it’s even less surprising now, considering Signet’s size (its 3,500 stores make it the world’s largest specialty jeweler by store count and second only to Chow Tai Fook in sales), spending power and vertical integration. (Signet became a De Beers sightholder last year.)
Here are a few of the product highlights that caught my ear on the earnings call.
--Alex and Ani. Let’s start off with the big one. As we reported (perhaps under-reported) last week, Signet CEO Mark Light said on the call that they would be testing the popular fashion bangle brand in 108 of the approximately 250 Jared the Galleria of Jewelry stores beginning mid-month. Following a question from an analyst, he made it clear that it wouldn’t be an Alex and Ani line designed exclusively for Jared but, rather, just an assortment of the brand’s already existing products.
--Star Wars. Go ahead. Watch the trailer for The Force Awakens below. I did while I was writing this, twice.
As everyone likely knows by now, the seventh installment in the epic space soap opera is set for release this December. Just this week, we’ve reported on two companies that have received licenses to sell Star Wars-themed fine jewelry, Berlin-based designer Malaika Raiss and Signet. Light said Kay Jewelers will be “one of select jewelers” that will peddle jewelry and beads based on the uber-popular movie franchise this holiday season.
WATCH: The trailer for Star Wars: The Force Awakens
Disney, which added Star Wars to its stable when paid $4 billion for Lucasfilm in 2012, is putting together a massive retail push for Star Wars VII, and analysts predict the new film could generate as much as $5 billion in merchandise sales in its first year of release.
The push actually starts today, Sept. 4, with the official release of The Force Awakens merchandise
I don’t know how sales of Star Wars jewelry will stand up to, say, toys, lunch boxes, backpacks, etc., but I think jewelers would be happy with even a small cut of that estimated $5 billion. Not to mention, what retailer wouldn’t want to be involved in any kind of event that gets consumers inspired to buy? Excited, must they be.
--Miracle Links. Miracle Links are circular pendants available in karat gold or set with colored gemstones and diamonds that are a subtle take on personalized jewelry, which continues to be popular. A new mom has one larger link that represents herself and can tack on additional links in varying metal and stone colors as additional children are born. I can see this product having widespread appeal.
--Chosen Diamond. Signet hasn’t released a ton of detail on this one just yet and so far the test market is pretty small, only 60 Jared stores. Light said it will “resonate with the sentimentalist customer that Jared attracts,” as customers will be able to trace the journey of their diamond from mine to market. It sounds a lot like Forevermark, which is still being tested in select Jared stores, four in Virginia and six in Maryland.
There’s also a “new must-have jewelry product” that Signet first mentioned at its investor conference in June and that Light referenced again in the call last week. Whatever this “must-have” item is, Signet will be selling it in all its stores in the U.S., Canada and the U.K. beginning in late October and will support it with “one of the most comprehensive marketing programs in the history of our company,” Light said.
Enjoy the long weekend. It is shaping up to be an interesting fall.
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.