CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
FinancialsAug 24, 2017
Signet to Acquire JamesAllen.com Owner for $328M
The jeweler said it will operate JamesAllen.com as an independent division while also adding parent company R2Net’s technology to its own stores’ websites.
A screenshot from JamesAllen.com, which allows users to build their own engagement rings on its website.
New York--Signet Jewelers Ltd. has acquired R2Net, the owner of online retailer JamesAllen.com, for $328 million in cash, the retailer announced Thursday morning.
The acquisition allows Signet to add what new CEO Gina Drosos described as a “very strong, fast-growing e-commerce brand” to its portfolio and gives the retailer control of R2Net’s technology arm, Segoma Imaging Technologies, which Drosos said will enable it to “deliver a new-generation digital shopping strategy for jewelry.”
These technologies include a diamond imaging camera, which can create 360-degree HD images with a 40x super-zoom and can be used on any device; 3-D imaging technology that allows shoppers to pair loose diamonds with rings; a ring try-on app; and 24/7 customer service and chat capabilities.
Signet will be bringing the JamesAllen.com executive team on board, including co-founder and CEO Oded Edelman, who will become Signet’s chief digital innovation adviser, reporting directly to Drosos.
Drosos said for now, the plan is to operate JamesAllen.com as an independent division of Signet, while also applying R2Net’s technologies to their stores’ websites and using it in stores. Over time, the retailer will look at whether a showroom-type concept makes sense for JamesAllen.com.
Signet took out a short-term loan to pay for the acquisition, which it will repay with proceeds from the sale of its prime-only credit accounts under its credit outsourcing program.
The transaction is expected to close in the third quarter and is subject to customary closing conditions and regulatory approval.
The announcement came as Signet released its results for the second quarter ended July 29, the first call it has held since Mark Light stepped down and Drosos became CEO at the end of July.
Same-store sales were up 1 percent, driven by e-commerce platform improvements--online sales were up 18 percent in the quarter--Mother’s Day, which is typically split between Q1 and Q2 but fell squarely in Q2 this year, and a July bridal event.
This included a 7 percent increase in same-store sales at Piercing Pagoda and 3 percent at Kay Jewelers. Comps were essentially flat for both Jared the Galleria of Jewelry and Zales in the quarter.
Signet’s total sales were $1.40 billion, a 2 percent year-over-year increase.
Operating income was $135.6 million, or 9.7 percent of sales, compared with $119.9 million, or 8.7 percent of sales, in the prior-year period.
So far this year, Signet has closed 98 stores, mostly regional brands and underperforming mall stores, and opened 53, for a net loss of 45 stores.
On
Editors' Picks
Sponsored by
Thursday morning’s call, the company also provided an update on the outsourcing of its credit portfolio.
Signet said that part one of the plan, the sale of $1 billion of prime-only credit accounts, is on track for completion in October. The retailer also said that its lease-purchase program has been rolled out ahead of schedule.
Signet said that part one of the plan, the sale of $1 billion of prime-only credit accounts, is on track for completion in October. The retailer also said that its lease-purchase program has been rolled out ahead of schedule.
More on Financials
The Latest
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
SourcingMay 13, 2026
Smithsonian Acquires ‘Winston Red’ Diamond PaintingReena Ahluwalia’s painting of the rare red diamond is the first contemporary painting to join the National Gem Collection.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
TrendsMay 13, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
IndependentsMay 12, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
MajorsMay 06, 2026
Saks Global Begins Layoffs, Reorganization Plans Closer to ApprovalThe retailer will cut 16 percent of its corporate workforce as part of its plan to exit bankruptcy.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
