MajorsJul 13, 2021
Signet Lands on NRF’s Top 100 Retailers ListMajorsOct 07, 2021
Why Signet Is One of the ‘Best-Positioned’ Retailers This Holiday Season
In a recent note, Wells Fargo outlined how the jewelry giant avoided the supply chain woes currently plaguing retail.
A 1.25-carat oval diamond engagement ring in 18-karat rose gold from the new “Monique Lhuillier Bliss” collection at Signet-owned banner Kay Jewelers ($11,000). A recent note from Wells Fargo analysts delves into how Signet Jewelers avoided the supply chain issues hampering many retailers.
New York—Supply chain troubles are weighing on some retailers ahead of the holiday season, but Signet Jewelers is all set for a happy holiday, according to Wells Fargo.
On Monday, analysts sat down for a virtual investor meeting with Signet’s management, including CEO Gina Drosos, CFO Joan Hilson, and Vice President of Investor Relations Vinnie Sinisi, to talk about where the jewelry giant stands in the market.
“Signet is one of the few companies in our universe where supply chain disruptions are not having a material impact on the company’s business,” Wells Fargo said in an analyst note shared with National Jeweler.
The company has no exposure to Vietnam, a country hard-hit with supply chain struggles. Its raw material mining happens in India, Russia, Botswana, and Brazil, while its cutting and polishing takes place in India, China, Indonesia, The Philippines, Thailand, Israel, and Belgium.
Signet has a partially vertically integrated supply chain, giving the company more control over delivery times, the note states.
The retailer relies less on cargo ships for product transportation, which means it avoids port delays into the United States from Asia. Most of its products are sent via airfreight.
Signet also placed orders with its vendors early, with more than half of its holiday inventory already on hand.
“Signet is likely one of the best-positioned retailers heading into holiday regarding supply chain headwinds,” said the note.
The analyst note delves into other aspects of Signet’s business, including its service offerings.
There may be big money to be made in its services business, which includes repairs, jewelry care, extended service plans, warranty and insurance, and its customizations services, like through the new Jared Foundry.
The segment could reach $1 billion in revenue over the next few years, a marked difference from the $300 million it generated in the last fiscal year.
Wells Fargo estimates the U.S. jewelry service and repair business to be in the $3 billion range total, though it is “highly fragmented.”
As Signet is the market share leader, the company has the opportunity to gain greater market share by leveraging its size, making the most of its 1,400 “jewelry experts.”
Services also foster customer loyalty, said analysts, keeping shoppers in the Signet ecosystem.
The jewelry giant has also been prioritizing differentiating its banners, tailoring each to cater to a specific set of customers rather than cannibalizing each other.
The change has brought new customers to each banner, said the note, and has also been a winning strategy for retaining customers.
Related stories will be right here …
On Monday, analysts sat down for a virtual investor meeting with Signet’s management, including CEO Gina Drosos, CFO Joan Hilson, and Vice President of Investor Relations Vinnie Sinisi, to talk about where the jewelry giant stands in the market.
“Signet is one of the few companies in our universe where supply chain disruptions are not having a material impact on the company’s business,” Wells Fargo said in an analyst note shared with National Jeweler.
The company has no exposure to Vietnam, a country hard-hit with supply chain struggles. Its raw material mining happens in India, Russia, Botswana, and Brazil, while its cutting and polishing takes place in India, China, Indonesia, The Philippines, Thailand, Israel, and Belgium.
Signet has a partially vertically integrated supply chain, giving the company more control over delivery times, the note states.
The retailer relies less on cargo ships for product transportation, which means it avoids port delays into the United States from Asia. Most of its products are sent via airfreight.
Signet also placed orders with its vendors early, with more than half of its holiday inventory already on hand.
“Signet is likely one of the best-positioned retailers heading into holiday regarding supply chain headwinds,” said the note.
The analyst note delves into other aspects of Signet’s business, including its service offerings.
There may be big money to be made in its services business, which includes repairs, jewelry care, extended service plans, warranty and insurance, and its customizations services, like through the new Jared Foundry.
The segment could reach $1 billion in revenue over the next few years, a marked difference from the $300 million it generated in the last fiscal year.
Wells Fargo estimates the U.S. jewelry service and repair business to be in the $3 billion range total, though it is “highly fragmented.”
As Signet is the market share leader, the company has the opportunity to gain greater market share by leveraging its size, making the most of its 1,400 “jewelry experts.”
Services also foster customer loyalty, said analysts, keeping shoppers in the Signet ecosystem.
The jewelry giant has also been prioritizing differentiating its banners, tailoring each to cater to a specific set of customers rather than cannibalizing each other.
The change has brought new customers to each banner, said the note, and has also been a winning strategy for retaining customers.
While the note focuses on Signet, it also highlights the strength of the jewelry category overall.
“Jewelry has been a clear COVID category winner,” said the note, highlighting its strong double-digit growth over the last six to eight months.
While the strength of the overall category may have helped to lift Signet, the management team told analysts it intends to continue its growth trajectory, even as spending may shift to experiential purchases.
The company is using its data to better understand its consumers, which is evidently working as store productivity increases and new customers flock to its banners, as per the note.
Signet will also use its e-commerce capabilities to scoop up more market share.
The mid-market jewelry category is worth around $35 billion, with nearly 70 percent of the market share held by less tech-savvy independents, analysts noted.
“As consumers continue to become more comfortable buying jewelry online, Signet is positioned to capitalize on this trend and take share from independents who lack e-commerce capabilities,” said the note.
“The company has numerous competitive advantages that cannot be replicated by its smaller, independent and regional competitors, including robust digital and omnichannel capabilities.”
However, competition from department stores entering the market and digital-only companies could be an impediment to Signet achieving its goal of a 9 percent market share, up from its current 6 percent.
Wells Fargo maintained its “Overweight” rating on the company with a price target of $100.
More on Majors
The Latest
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of CoverageLilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship WinnersThe organization has awarded a total of $42,000 through its scholarship programs this year.
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging DesignersThe winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright BaublesAs summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in QueensMoshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.
