Model Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
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.

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
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.
The Latest

The board elected 9 new directors at its recent ICA Congress in Brazil.

Three winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

JD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.


The new inventory, all untreated, features vibrant hues and unique bicolor combinations.

Acquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

President Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.

The “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.

Columnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.

Peter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.

The retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.

The Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.

Associate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.

The organization has raised more than $1.3 million for charity since its inception.

The brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.

The first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.

The catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.

The company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.

An additional 25 percent tariff has been added to the previously announced 25 percent.

The jewelry and accessories retailer plans to close 18 stores as part of the proceedings.

Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.

Designer Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.

She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.

Omar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.

The New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.