CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police 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
Editors' Picks
Sponsored by
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
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
TechnologyOct 13, 2026
GemFind Is a New JA Member Benefit Partner The partnership will give JA members access to preferred pricing, exclusive benefits, technology solutions, education, and resources.
