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Signet ( JA) buying blue nile.

There goes the neighborhood. :doh:
 
In Australia the competition authority ACCC would block such a takeover. But super smart move for Signet. Will be interesting to see if they fold or roll.
 
It remains to be seen if this is some sort of attempt to crush competition, buy a well recognized online brand, or to become so large that diamond dealers will fall all over themselves to sell and supply the leader of the pack. Buying the BN brand will open up a wealth of vendor relationships to the new owner. It is an opportunity to diversify their marketing approach.

If they fall into some sort of financial difficulty, it will put a lot of burden on small and large vendors who sell to them. Signet is a major market participant. I hope their game plan leads to a positive outcome for all concerned.
 
Hard to reconcile the sale price to Signet ($360M) with press statements of the company's value from just a few months ago :confused:

chainstoreage.com

Blue Nile to go public via SPAC deal; valued at $873 million

The pioneering online disruptor of the diamond jewelry market is returning to the public arena through an agreement with a special purpose acquisition company.
chainstoreage.com chainstoreage.com
 
Hi,
Who did JA sell to.?
About 6 weeks ago Signet reported its earnings. The CEO is a woman who quite proudly explained why they were doing so well and selling more diamonds at higher prices than ever before. She exuded confidence and was quite pleased with herself, which she had every right to be. considering how well the company had performed. So, It does not surprise me that they went looking to expand on the internet. What did cross my mind was whether or not the vendors on this site were doing as well as Signet or not as well. The traffic on Pricescope has slowed dramatically, I wondered if this effected the vendors here.
I recall JA retained some of their policies and let some others go. Perhaps Blue Nile will do the same.

I hope the consumer still can get a good diamond from the new entity.

Annette
 
smitcompton said:
Hi,
Who did JA sell to.?
About 6 weeks ago Signet reported its earnings. The CEO is a woman who quite proudly explained why they were doing so well and selling more diamonds at higher prices than ever before. She exuded confidence and was quite pleased with herself, which she had every right to be. considering how well the company had performed. So, It does not surprise me that they went looking to expand on the internet. What did cross my mind was whether or not the vendors on this site were doing as well as Signet or not as well. The traffic on Pricescope has slowed dramatically, I wondered if this effected the vendors here.
I recall JA retained some of their policies and let some others go. Perhaps Blue Nile will do the same.

I hope the consumer still can get a good diamond from the new entity.

Annette
Click to expand...

Blue Nile was purchased by Signet (JA, Jared, Kay's, etc).
www.signetjewelers.com

Signet Jewelers - Our Brands | Signet Jewelers

Explore our brands and what they have to offer. From engagement rings to casual everyday jewelry our brands will have what you looking for.
www.signetjewelers.com www.signetjewelers.com
 
No more checking lab reports on Blue Nile, then?
 
It is way to early to know if BN will continue as it has.
The CEO Stuart Kell seemed happy and my guess is he may stay.
When Signet bought James Allen in 2013ish from memory, they kept the existing business as it was but have since rolled it out as a virtual instore diamond selection business after James Allen ##### (surname deleted but thats where JA comes from). James, the founder and one of PS's first ever vendors, and his very savvy wife started a test virtual store in Maryland that has been placed in one of the chain mall store operations of Signet.
So I expect Signet has bought a major competitor but will let them run as is, but with bolt on benefits. BN has also been rolling out virtual boutiques.
 
Demon said:
No more checking lab reports on Blue Nile, then?
Click to expand...

JA now allows the grading reports to be viewed for their inventory of diamonds. :)
 
When did they add that back @DejaWiz ?
 
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Interesting development- sad from my perspective as a small business owner- and patron.
Less choice for consumers for sure.....but there are also concerns on how it will impact the wholesale end of it as well.

Like so many other products- large equity concerns buy companies- corner a market and it becomes increasingly difficult to find alternatives.
 
Rockdiamond said:
Interesting development- sad from my perspective as a small business owner- and patron.
Less choice for consumers for sure.....but there are also concerns on how it will impact the wholesale end of it as well.

Like so many other products- large equity concerns buy companies- corner a market and it becomes increasingly difficult to find alternatives.
Click to expand...

Almost all the diamonds these companies list are virtual apart from the Signet store already set David.
You and me can access most of them.
And as per my message half an hour ago - it maybe that Signet will drastically reduce it's instore inventory making more goods available to the likes of us!
 
Garry H (Cut Nut) said:
It is way to early to know if BN will continue as it has.
The CEO Stuart Kell seemed happy and my guess is he may stay.
When Signet bought James Allen in 2013ish from memory, they kept the existing business as it was but have since rolled it out as a virtual instore diamond selection business after James Allen ##### (surname deleted but thats where JA comes from). James, the founder and one of PS's first ever vendors, and his very savvy wife started a test virtual store in Maryland that has been placed in one of the chain mall store operations of Signet.
So I expect Signet has bought a major competitor but will let them run as is, but with bolt on benefits. BN has also been rolling out virtual boutiques.
Click to expand...
Apparently Jared stores are co branded JA
 
Garry H (Cut Nut) said:
Almost all the diamonds these companies list are virtual apart from the Signet store already set David.
You and me can access most of them.
Click to expand...

Yes! My point is that dealers supplying BN/ and or JA will have new situations to deal with. For dealers supplying the largest virtual sellers, it wasn't an easy road up to this point. Might get tougher - or maybe it will not be a big deal at all.....
 
Hi,

FYI-- The CEO of Signet is Virginia Dross, age 57. She has been on the board of signet since 2012. I had to check as I thought perhaps the woman I saw was the CFO, but no Virginia is the CEO. Perhaps Stuart is already gone.

Annette
 
The Jared near me is not co-branded, at least it wasn't the last time I drove by. So maybe it's only some of them?
 
While I was shopping for our engagement ring on JA recently, I was told that they don't perform vendor visual inspections for the questionable SI1/2 stones I was interested. Just the customer service people who look at the 360 video and then say 'it should be eyeclean'.

Went with Blue Nile in the end specifically because of this. At some point I think this will be the same thing for blue nile too, which cuts cost and kind of forces inexperienced buyers to go for VS2+ stones to increase profit margins, rather unfortunate.
 
Rain03 said:
While I was shopping for our engagement ring on JA recently, I was told that they don't perform vendor visual inspections for the questionable SI1/2 stones I was interested. Just the customer service people who look at the 360 video and then say 'it should be eyeclean'.

Went with Blue Nile in the end specifically because of this. At some point I think this will be the same thing for blue nile too, which cuts cost and kind of forces inexperienced buyers to go for VS2+ stones to increase profit margins, rather unfortunate.
Click to expand...

One of the biggest costs selling virtual diamonds is returns.
My eye clean may not be yours.
Margins on VS will be the same as margins on SI. Most people spend to a budget.
 
I think it is sad for consumers. I remember when James Allen was Dirt Cheap Diamonds. You could call them and speak directly to a short staff of people. Blending with Jared just cheapens JA somehow to me. Kay Jewelers advertises diamonds set in sterling silver or 10 kt. gold so that is obviously not high quality jewelry. The Leo diamonds that Kay and Jared sell now have several iterations of the line; most recently hearts and arrows Leo diamonds. I was told by a salesperson there many years ago that the Leo diamond far surpassed hearts and arrow diamonds and now they have their own version. Leo diamonds come in specific diamond sizes but the color/clarity is all over the place. VS or SI2 - one is as good as the other if you listen to the sales pitch. Targeted to the masses I suppose and visible in malls and shopping centers. The conglomerate makes money while the consumer often gets subpar goods.
 
MissGotRocks said:
I think it is sad for consumers. I remember when James Allen was Dirt Cheap Diamonds. You could call them and speak directly to a short staff of people. Blending with Jared just cheapens JA somehow to me. Kay Jewelers advertises diamonds set in sterling silver or 10 kt. gold so that is obviously not high quality jewelry. The Leo diamonds that Kay and Jared sell now have several iterations of the line; most recently hearts and arrows Leo diamonds. I was told by a salesperson there many years ago that the Leo diamond far surpassed hearts and arrow diamonds and now they have their own version. Leo diamonds come in specific diamond sizes but the color/clarity is all over the place. VS or SI2 - one is as good as the other if you listen to the sales pitch. Targeted to the masses I suppose and visible in malls and shopping centers. The conglomerate makes money while the consumer often gets subpar goods.
Click to expand...

But...every kiss begins with Kay.

I know exactly what you mean: my wife and I went into a Kay's a few months ago on a whim to look at LGD studs that she's been hinting at.
1.6ctw, GSI graded, "excellent cut", I-J color, SI1-SI2, 10k WG 4 prong...for $2400!
I held up a piece of paper over them to block out the showroom dazzle lights and create indirect lighting and immediately saw the rings of death clear as day.
Should be criminal.
 
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