Signet Jewelers has recently announced their plan to acquire Diamonds Direct, an off-mall, destination jeweler in the United States.
"The accretive addition of Diamonds Direct to our portfolio will further drive shareholder value with its distinct bridal-focused shopping experience and add a new entry point as we build lifetime customer relationships and strive to reach our $9 billion revenue goal over time. The Signet team continues to deliver strong business performance as part of our Inspiring Brilliance growth strategy. We are executing on our strategic priorities and investing in our business, while also returning cash to shareholders through our previously announced reinstated dividend and share buy-back program," said Signet CEO, Virginia C. Drosos.
According to a statement given by Itay Berger, President of Diamonds Direct, "I am excited about Diamonds Direct joining the Signet family as we share a passion for company culture that prioritizes our team members, our customers and our community. We are thrilled to continue to grow our business, leveraging Signet's strengths and strategic capabilities to bring even more innovation and value to our signature shopping experience."
About Diamonds Direct
Diamonds Direct is a direct-to-consumer destination retailer headquartered in Charlotte, North Carolina. Each location offers loose and mounted diamonds, including rare and unique stones, as well as a multitude of engagement ring mountings and wedding bands by America's top designers. Diamonds Direct's bridal jewelry selection is complimented by diamond and gemstone fashion jewelry, pearls and much more. The retailer backs their products with industry leading guarantees and warranties, including their unprecedented 110 percent lifetime upgrade. Diamonds Direct is a socially-responsible company that thinks globally and acts locally. The company ensures all diamonds are ethically sourced via the Kimberley Process and is responsible for hundreds of thousands of dollars raised for local philanthropies and cultural organizations that are critical to the communities Diamonds Direct calls home. For more information visit www.DiamondsDirect.com.
About Signet and Safe Harbor Statement
Signet Jewelers Limited is the world's largest retailer of diamond jewelry. As a purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Signet is a Great Place to Work –Certified™ company and has been named to the Bloomberg Gender-Equality Index for three consecutive years. Signet operates approximately 2,800 stores primarily under the name brands of Kay Jewelers, Zales, Jared, H. Samuel, Ernest Jones, Peoples, Piercing Pagoda, and JamesAllen.com and the jewelry subscription service, Rocksbox.
Information originally sourced from PRNewswire.