FinancialsSep 01, 2022
Signet Sets Sights on Bridal Market as Q2 Sales SlipMajorsSep 07, 2022
Signet Seals the Deal on Blue Nile Acquisition
The jewelry giant has purchased Blue Nile for $360 million in cash as it looks to draw in younger, richer tech-savvy consumers.
Pictured is the Blue Nile showroom in Silicon Valley in California. Signet Jewelers recently finalized its acquisition of the retailer.
Akron, Ohio—Signet Jewelers Ltd. has finalized its acquisition of Blue Nile.
The jewelry giant announced its plan to acquire Blue Nile last month, signing a definitive agreement to buy the company for $360 million in cash.
Founded in 1999, the Seattle-based retailer got its start as an online-only operation but has since expanded to physical retail.
Its 23 showrooms stock little inventory, allowing customers to view products in person before ultimately purchasing them online.
“We can learn from this low inventory showroom model,” said Signet CEO Virginia Drosos on a recent earnings call. “We see incredible synergy opportunities with Blue Nile and James Allen.”
According to National Jeweler estimates, Blue Nile’s 2021 sales clocked in at $741.1 million, landing the retailer in the No. 10 spot on the magazine’s most recent list of $100 Million Supersellers.
Related stories will be right here …
The jewelry giant announced its plan to acquire Blue Nile last month, signing a definitive agreement to buy the company for $360 million in cash.
Founded in 1999, the Seattle-based retailer got its start as an online-only operation but has since expanded to physical retail.
Its 23 showrooms stock little inventory, allowing customers to view products in person before ultimately purchasing them online.
“We can learn from this low inventory showroom model,” said Signet CEO Virginia Drosos on a recent earnings call. “We see incredible synergy opportunities with Blue Nile and James Allen.”
According to National Jeweler estimates, Blue Nile’s 2021 sales clocked in at $741.1 million, landing the retailer in the No. 10 spot on the magazine’s most recent list of $100 Million Supersellers.
Signet said it scooped up the company in an effort to boost its bridal offerings and digital capabilities.
“It has the highest brand recognition of any digital pure-play jewelry retailer and expands the top end of our accessible luxury offerings,” said Drosos.
Its “Accessible Luxury” portfolio includes Jared, James Allen and recently acquired Diamonds Direct.
The company is also looking to reach a customer demographic that is younger, more affluent and ethnically diverse.
It’s official – Blue Nile is now part of the Signet family of banners. Blue Nile furthers our goal to be the growth and innovation leader of the jewelry industry by welcoming a new, younger, affluent and diverse customer and expanding our share of the jewelry market. (1/2) pic.twitter.com/VQIL24nfMn
— Signet Jewelers (@SignetJewelers) August 24, 2022
Drosos confirmed the acquisition had closed during the company’s second-quarter earnings call last week.
“We now expect the Blue Nile acquisition to be accretive through both revenue and cost synergies no later than Q4 of next year,” she said.
Chief Financial Officer Joan Hilson shared more details about the closing of the deal.
“We closed the transaction recently. Our team has been on the ground over the last week or so, really pulling together and working hand-in-hand with the Blue Nile team to put together our holiday plans,” said Hilson.
“Based on the work that we’ve done, we’re very excited about the opportunities for synergy and the ability to integrate the two banners with the James Allen team and really leveraging the synergies of the back office,” she added.
Blue Nile joins a list of recent acquisitions for Signet Jewelers, including Diamonds Direct and Rocksbox.
“We now expect the Blue Nile acquisition to be accretive through both revenue and cost synergies no later than Q4 of next year,” she said.
Chief Financial Officer Joan Hilson shared more details about the closing of the deal.
“We closed the transaction recently. Our team has been on the ground over the last week or so, really pulling together and working hand-in-hand with the Blue Nile team to put together our holiday plans,” said Hilson.
“Based on the work that we’ve done, we’re very excited about the opportunities for synergy and the ability to integrate the two banners with the James Allen team and really leveraging the synergies of the back office,” she added.
Blue Nile joins a list of recent acquisitions for Signet Jewelers, including Diamonds Direct and Rocksbox.
Editors' Picks
Sponsored by
More on Majors
The Latest
WatchesSep 25, 2026
Smaller Rolex Watches Showing Strength on Secondary Market, Data ShowsFive of the 10 fastest-appreciating Rolex models on Bob’s Watches were Datejust 31 or Lady Datejust watches.
Lab-GrownSep 25, 2026
Brilliant Earth Collabs with Elizabeth Taylor Estate on Jewelry Collection“The Elizabeth Taylor Collection” uses lab-grown diamonds and gemstones in contemporary designs inspired by the icon.
TrendsSep 25, 2026
A Peek at Taylor Swift’s Game-Day DiamondsThe artist wore Dana Rebecca Designs’ marquise diamond-set gold hoops at the Chiefs game last Sunday. Now they’re our Piece of the Week.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
Weekly QuizSep 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsSep 24, 2026
8-Carat Blue Diamond Heads to UK Jewelry AuctionThe fancy light blue diamond is estimated to fetch up to $2.6 million at Elmwood’s next week.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
TrendsSep 24, 2026
This New Jewelry Book Decodes the Secret Meaning in Victorian Jewelry“Secret Language of Victorian Jewelry” unveils the meaning behind the symbols, motifs, and gemstones used in Victorian-era jewelry.
Lab-GrownSep 24, 2026
Kira Jewels Opens B2B E-Commerce Portal for Lab-Grown Diamond Jewelry KIRAJewels.one gives retailers access to more than 500 SKUs of lab-grown diamond rings, earrings, necklaces, and bracelets.
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
Events & AwardsSep 22, 2026
NYCJAOS Returns for Autumn EditionThe four-day show is slated for Nov. 19-22 at the Metropolitan Pavilion in New York City’s Chelsea neighborhood.
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
