As increasingly diverse couples lead the
U.S. engagement recovery, Signet and De Beers are re-introducing
natural diamonds to Zillennials, the newest generation of diamond
engagement ring consumers in the U.S.
AKRON,
Ohio, and LONDON,
May 22,
2024 /PRNewswire/ -- Signet Jewelers, the world's
largest retailer of diamond jewelry, whose iconic retail brands
include KAY Jewelers, Zales, Jared, Diamonds Direct and
Blue Nile, and De Beers Group, the world's leading diamond
company, today announced a collaboration to share the unique
attributes of natural diamonds with a new generation of U.S.
couples, ahead of an expected 25% increase in engagements over the
next three years1.
Utilizing Signet's trusted brands, digital capabilities and
extensive store network and De Beers Group's expertise in creating
iconic campaigns, the collaboration will showcase the inherent
rarity and timelessness of natural diamonds. A new campaign will
fully roll out in the third quarter and feature online content,
in-store experiences and targeted marketing messages.
Signet's proprietary research indicates that there will be an
upswing in proposals and engagements amongst U.S. Zillennials over
the next 36 months, following a recent lull due to a lack of
couples forming during the pandemic. The engagement uptick is
expected to be driven by couples from diverse racial and ethnic
backgrounds and the LGBTQIA+ community.
To support consumer marketing activities, training will be
provided to Signet's 20,000 sales associates to help educate their
customers on natural diamonds' unique attributes, including their
enduring emotional and financial value and the enormous
socioeconomic benefits natural diamonds help deliver for the people
and places where they are discovered. Natural diamond visual
merchandising will also be revamped and refreshed within Signet's
banners to appeal to pre-engagement consumers.
"Natural diamonds are the perfect symbols to celebrate life's
most meaningful moments – they are as unique, timeless, rare and
precious as the emotions they represent," said De Beers Group CEO
Al Cook. "We now have the
opportunity to connect a diverse new generation to the
extraordinary attributes of natural diamonds. I am so proud of the
good that diamonds do for the people and places they come from. To
maximise the reach and impact of our activities, we know that new
approaches and strategic collaborations will be vital. This is
why we are so pleased to be working with a leading retailer like
Signet to share the story of natural diamonds with consumers.
Signet is a true authority for pre-engagement couples as they
decide which diamond to choose, and I am particularly pleased
that we will be working together to equip Signet's sales
associates to share the unique attributes of natural diamonds."
"When choosing a piece of jewelry, it's vital to have complete
confidence and trust in who you buy it from and how it was
sourced," said Signet Jewelers CEO Virginia C. Drosos. "Our
industry-leading position in responsible sourcing is an asset we
want to communicate to the next generation of diamond buyers. We
are proud to stand by the "Signet Promise" – our commitment to
upholding the integrity of the global diamond supply chain through
responsible sourcing."
"Our selection of diamonds is unrivaled, and our jewelry experts
know the ins and outs of the diamond purchasing journey and value
proposition," said Drosos. "Our team members overwhelmingly
choose natural for their own purchases – more than 4 out of 5
times, in fact – which speaks volumes. We are looking forward to
investing in new trainings and initiatives to equip our field team
to share the natural diamond story with our customers."
As a leading natural diamond supplier, all De Beers diamonds are
sourced in accordance with the company's Best Practice Principles
and its Building Forever sustainability framework, ensuring that
every diamond discovered by De Beers is responsibly sourced and has
helped create a positive impact for the people and place it came
from.
Contact
Signet Jewelers
Katie
Spencer
katie.spencer@signetjewelers.com
De Beers Group
Press office
Tel +44 (0) 20 7430 3434
pressoffice@debeersgroup.com
About Signet Jewelers
Signet Jewelers Limited is the world's largest retailer of
diamond jewelry. As a Purpose-driven and sustainability-focused
company, Signet is a participant in the United Nations Global
Compact and adheres to its principles-based approach to responsible
business. Signet operates eCommerce sites and approximately 2,700
stores under the name brands KAY Jewelers, Zales, Jared, Banter by
Piercing Pagoda, Diamonds Direct, Blue Nile, James Allen, Rocksbox, Peoples Jewellers,
H.Samuel, and Ernest Jones. Our
sales derive from the retailing of jewelry, watches, and associated
services.
About De Beers Group
Established in 1888, De Beers Group is the world's leading
diamond company with expertise in the exploration, mining,
marketing and retailing of diamonds. Together with its joint
venture partners, De Beers Group employs more than 20,000 people
across the diamond pipeline and is the world's largest diamond
producer by value, with diamond mining operations in Botswana, Canada, Namibia and South
Africa. Innovation sits at the heart of De Beers Group's
strategy as it develops a portfolio of offers that span the diamond
value chain, including its jewellery houses, De Beers Jewellers and
Forevermark, and other pioneering solutions such as diamond
sourcing and traceability initiatives Tracr and GemFair. De Beers
Group also provides leading services and technology to the diamond
industry in the form of education and laboratory services via De
Beers Institute of Diamonds and a wide range of diamond sorting,
detection and classification technology systems via De Beers Group
Ignite. De Beers Group is committed to 'Building Forever,' a
holistic and integrated approach for creating a better future –
where safety, human rights and ethical integrity continue to be
paramount; where communities thrive and the environment is
protected; and where there are equal opportunities for all. De
Beers Group is a member of the Anglo American plc group. For
further information, visit www.debeersgroup.com.
1 Based on Signet's proprietary data
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SOURCE Signet Jewelers Ltd.