Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-InA trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.
MajorsJun 09, 2016
Signet Refutes Allegations of Systematic Diamond Swapping
The jeweler says it “strongly objects” to “grossly amplified” allegations on social media that its team members regularly switch customers’ diamonds for moissanite or diamonds of lesser quality.
Signet Jewelers, parent company of Kay Jewelers stores, says it “strongly objects” to “grossly amplified” allegations on social media that its employees systematically mishandle customers’ jewelry repairs or swap out their diamonds.
Akron, Ohio--Signet Jewelers is refuting reports of widespread “stone swapping”--switching out customers’ diamonds for moissanite or diamonds of lesser quality--at its Kay Jewelers stores.
In a statement issued after a BuzzFeed report generated a deluge of negative comments on social media, the country’s largest jeweler said it has vigorous product quality procedures in place that are consistently monitored. Its teams review the characteristics of the item with the customer both when they drop it off and when they pick it up following service or repair to ensure the safe return of their original piece.
Signet said it “strongly objects” to the allegations on social media, which have been “grossly amplified,” that its team members systematically mishandle customers’ jewelry repairs or swap out their diamonds. “Incidents of misconduct, which are exceedingly rare, are dealt with swiftly and appropriately,” the company added.
It also noted that its customer service team has not received an unusual number of complaints lately and that it manages more than 4 million service and repair transactions each year, with more than 99 percent completed without negative customer feedback.
Even so, the jeweler noted in a further statement to National Jeweler that it is “actively reviewing” the issues brought up by the BuzzFeed story and is evaluating its processes to see if there’s any way they can be improved.
Signet Jewelers, which operates Zales and Jared the Galleria of Jewelry as well as Kay, sent out its statement last week, a day after its stock price dropped when stone-swapping allegations as well as renewed criticisms about the size and quality of its credit portfolio was mentioned in James Grant’s investment newsletter.
As noted in its first quarter results released May 26, the company’s board of directors has authorized management to conduct a strategic evaluation of its credit portfolio and has hired Goldman Sachs to be its financial advisor in this process.
“Signet will consider a full range of options with respect to its credit operations and update investors as appropriate,” the company said.
The BuzzFeed story that ignited the social media firestorm ran on May 25 and detailed the experiences of a trio of women who claimed their diamonds were switched for moissanite or lesser-quality stones by employees at three different Kay stores.
More than a week later, the social media chatter has yet to die down, with the subject of diamond swapping dominating many posts on the Kay’s Facebook page.
On
Wednesday, Kay Jewelers posted a photo of a ring set with a Leo Diamond with the text, “Love shines brighter when you find your perfect match.”
“Pretty ring and cute quote,” one Facebook user responded. “Too bad that perfect match gets swapped out for a less attractive and lesser quality diamond.”
Many posts met with similar responses, though it appears the social media team at Kay Jewelers was making an effort to reply to each and every one, offering avenues for resolution in many cases.
“The trust of our customers is not something we take lightly. It has been an honor to help our customers celebrate life and express love through our high quality jewelry for almost 100 years, and dedication to superior customer service and quality control is integral to who we are and how we conduct business,” Signet CEO Mark Light said in the company statement. “Our guests are our most precious commodity, and we are committed to maintaining their trust.”
“Pretty ring and cute quote,” one Facebook user responded. “Too bad that perfect match gets swapped out for a less attractive and lesser quality diamond.”
Many posts met with similar responses, though it appears the social media team at Kay Jewelers was making an effort to reply to each and every one, offering avenues for resolution in many cases.
“The trust of our customers is not something we take lightly. It has been an honor to help our customers celebrate life and express love through our high quality jewelry for almost 100 years, and dedication to superior customer service and quality control is integral to who we are and how we conduct business,” Signet CEO Mark Light said in the company statement. “Our guests are our most precious commodity, and we are committed to maintaining their trust.”
More on Majors
The Latest
SourcingSep 25, 2025
2 African Countries Aim to Take Stake in De Beers Botswana’s president said his country wants a controlling share, while Angola envisions multiple countries holding minority stakes.
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond ProductionThe manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
IndependentsSep 25, 2025
Alex Moss’ New Flagship Brings Bold Jewels to SoHoThe jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.
Weekly QuizSep 25, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesSep 25, 2025
Wilson & Son Jewelers Donates to the Horological Society of New YorkThe Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.
Policies & IssuesSep 24, 2025
Tariffs Throw Diamond Trade Into DisarrayThe 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
SourcingSep 24, 2025
De Beers Adopts New Strategies to Drive Natural Diamond Demand in IndiaDe Beers’ refreshed, multipronged approach, which includes generic promotions and retail partnerships, is delivering positive dividends.
Policies & IssuesSep 24, 2025
For Jewelry Manufacturers, Higher Tariffs Create Long-Term WorriesThey are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.
SourcingSep 24, 2025
A Helping Hand: An Effort to Boost Inclusivity in the IndustryJewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.
CollectionsSep 24, 2025
Greenwich St. Jewelers Goes Back in Time With First Estate CollectionThe collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.
Policies & IssuesSep 24, 2025
Diamonds Do Good Names Marcus ter Haar as President-ElectHe previously served as co-chair of the nonprofit’s beneficiary committee.
CollectionsSep 24, 2025
Brilliant Earth’s New Jane Goodall Collection Calls for PeaceIts second collaboration with the conservationist features jewelry with dove and olive branch motifs.
SourcingSep 24, 2025
SRK Launches Kriam PharmaThe diamond manufacturer’s new company will provide accessible and affordable high-quality medicines across India.
ColumnistsSep 23, 2025
Quiet Luxury: What Fall’s Top Trend Means for JewelersEmmanuel Raheb shares tips on how a jeweler’s showcases, marketing, and social media presence can whisper, instead of shout.
SourcingSep 23, 2025
Super Smalls’ New Book Introduces Kids to Gems, Fine JewelryThe “Super Book of Gems” dives into the Mohs Hardness Scale, the Four C’s, and designs from jewelers like Cartier and Bulgari.
CollectionsSep 23, 2025
Monique Lhuillier Adds Fashion Jewelry to Kay Jewelers LineThe new lab-grown diamond jewelry offering is the latest expansion of the designer’s “Bliss” collection.
SourcingSep 22, 2025
Rio Tinto Announces Final ‘Beyond Rare’ TenderThe miner is honoring the end of an era with an offering of 52 lots from the now-closed Argyle and the soon-to-close Diavik mines.
MajorsSep 22, 2025
Jewelry Manufacturer Vibhor Acquires AlorThe California-based fine jewelry brand will retain its identity post-acquisition, with new collections launching next year.
CollectionsSep 22, 2025
Gurhan's Collection is an 'Untamed' ZooThe “Untamed” collection centers on carved gemstone jewelry depicting a range of animals embodying one of the four elemental forces.
Policies & IssuesSep 22, 2025
Ethical Metalsmiths Has a New Name Founded in 2004, the organization is now called the Community for Ethical Jewelry.
EditorsSep 19, 2025
These Female Athletes Had the Best Jewelry of the SummerFrom Coco Gauff’s hoops to Madison Keys’ diamond medallion, these are Senior Editor Lenore Fedow’s standout jewelry looks of the season.
CollectionsSep 19, 2025
Piece of the Week: Vanessa Fernández Studio’s ‘Curva’ Wrap HoopsThe trendy earrings feature asymmetrical drops, one with a grossular garnet and the other with a diamond.
Recorded WebinarsSep 19, 2025
Watch: A Step-by-Step Guide to Using TikTok and Instagram ReelsFour social media marketing experts discuss their go-to methods and favorite tools for making high-quality short-form video content.
Supplier BulletinSep 18, 2025
Will Your Design Define 2026? Enter The Spectrum & Cutting Edge AwardsSponsored by American Gem Trade Association
SurveysSep 18, 2025
Deloitte Thinks the Holidays Will Be Merry, PwC Isn’t So Sure In its holiday report, PwC said the season will be more like jazz—improvisational and less predictable—than an easy-to-follow melody.
