Diamonds and diamond jewelry continue to be the main merchandise items at Signet Jewelers Limited (SIG). The bridal category is predominantly diamond jewelry.
New merchandise initiatives
Signet Jewelers has taken on several merchandise initiatives in 2015, including the following:
- Kay’s Miracle Links collection, which includes a pendant for new mothers representing the birth of a child
- a partnership with ALEX AND ANI, a leading eco-friendly and positive-energy lifestyle brand with a trendy fashion collection
- the launch of Jared’s “Chosen Diamond” program in 60 stores, under which Signet is planning to provide documentation explaining to the customer the journey of his or her diamond purchase
- cross-selling Zale’s Vera Wang Love bridal collection at Jared
Additionally, in the 2015 holiday season, Signet’s Kay stores will display Star Wars fine jewelry and beads while Zale stores will feature new custom jewelry technology.
“Ever Us,” a new trend in the jewelry industry?
In October 2015, Signet launched a new must-have jewelry product, “Ever Us,” which features two diamonds of the same size, representing the bond between the two people. This initiative represents the first time that Signet has launched a collection available in all of its national store banners across all the geographies wherein the company operates, namely, the US, the UK, and Canada.
Signet expects “Ever Us” to become a new trend in the jewelry industry (XRT) and considers the initiative the company’s the most comprehensive marketing program ever designed. It expects these merchandise initiatives to attract traffic and to boost average sales.
Likewise, Signet’s peers, Tiffany & Company (TIF) and Fossil Group (FOSL) also introduced new merchandise for the 2015 holiday season. Signet, Tiffany, and Fossil Group all have exposure in the iShares Russell 1000 Growth ETF (IWF). Together they make up 0.12% of the portfolio holdings of IWF.
Continue to the next part of this series for an analysis of Signet’s aim to improve its vertical integration.