IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
Policies & IssuesNov 14, 2013
Kay, Jared parent company buys polishing plant
Signet Jewelers Ltd. has purchased a diamond polishing facility in Gaborone, Botswana, a not-unexpected move for a company that has been talking about increasing its direct sourcing of rough for some time.
Akron, Ohio--Signet Jewelers Ltd. has purchased a diamond polishing facility in Gaborone, Botswana, a not-unexpected move for a company that has been talking about increasing its direct sourcing of rough for some time.
Signet, parent company of Akron-based Sterling Jewelers Inc., which operates Kay Jewelers and Jared the Galleria of Jewelry, bought a factory in Botswana’s capital city from H&A Cutting Works (Botswana) (Proprietary) Ltd., a subsidiary of Exelco International Ltd.
Antwerp-based Exelco Group is a De Beers sightholder and its core business is hearts-and-arrows-cut diamonds. According to the sightholder directory, the company opened H&A in 2008.
Signet, which is the largest jeweler in the United States and attributes more than 75 percent of its U.S. sales to diamonds and diamond jewelry, joins retailers such as Tiffany & Co. in moving further up the diamond pipeline as supplies of rough are forecasted to decline in the coming years. Tiffany opened its Laurelton Diamonds cutting and polishing facility in Canada in 2003.
“By owning this state-of-the-art facility, Signet can ensure more consistent, cost-effective access to diamonds in the sizes and cuts it needs with less vulnerability to the fluctuations of the overall diamond market,” Signet Vice President of Corporate Affairs David Bouffard said in an email interview with National Jeweler.
This is not the first time Signet has attempted to secure a direct supply of rough.
A few years ago, the company subcontracted a diamond polishing facility in Vishakhapatnam, India but closed it in 2008, with Bouffard citing the volatile and challenging rough market. 2008 also was a tough year economically as it was the beginning of the global financial crisis.
“In that economic environment, when we were shortening and narrowing our focus across all areas of our business, we decided that discontinuing those operations was the appropriate action to take,” Bouffard said.
When asked what made the company certain this attempt would not fail like the last, he cited different geography and changing times.
Botswana is the world’s No. 1 diamond producer in value terms and is becoming more involved in trading and manufacturing, not just mining, especially with De Beers moving its sales operations there. Bouffard called it “the new heart of the diamond world.”
Still challenges remain to operating in the nation, chief among them electricity, cost and labor issues.
Bouffard said the H&A Cutting Works facility is state-of-the-art and that the retailer
has 230 people on the ground in Botswana, supported by experienced expatriate trainers. In addition, the facility is the only one to have a local Batswana production manager, which Signet sees as an advantage.
While Signet is not releasing figures on the yearly capacity of the polishing factory, it will, in the long run, account for only a small portion of the company’s overall diamond sourcing, Bouffard said.
The vast majority of stones procured by Signet is, and will remain, loose polished or is already set in finished jewelry.
While Signet is not releasing figures on the yearly capacity of the polishing factory, it will, in the long run, account for only a small portion of the company’s overall diamond sourcing, Bouffard said.
The vast majority of stones procured by Signet is, and will remain, loose polished or is already set in finished jewelry.
More on Policies & Issues
The Latest
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
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.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
SourcingAug 28, 2026
Gareth Penny to Give Opening Speech at CIBJO Centenary CongressThe former De Beers CEO, and perhaps its next owner, will be a featured speaker at the event, slated for Sept. 4-7 in Italy.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
SourcingAug 27, 2026
OFAC Renews License Allowing Import of ‘Grandfathered’ Russian Diamonds General License 104B supersedes General License 104A, which was set to expire on Sept. 1.
