🠈 Signet / Sterling Jewelers 🠊
Signet Group PLC (based in Hamilton, Bermuda) is the world's largest specialty jeweler with over 17,000 employees and over 1900 stores in England, the US, Ireland and other choice locations [drawn from Wikipedia 9/12]. Brands owned by the company include Kay Jewelers, Jared The Galleria Of Jewelry, Sterling Jewelry, Ernest Jones, Morgan and Marks, Osterman Jewelers, Sterling Gold Exchange, Friedlanders, Goodman Jewelers, Weisfield Jewelers, and others.
The company was founded by Gerald Ratner. It expanded through organic growth through its first decades. The company began a phase of aggressive expansion in the 1980s. Much of their growth came by selling costume jewelry at premium prices.
In a famous incident. Gerald Ratner gave a speech with jokes about the low quality of the jewelry which went viral. The stock price plummeted. The company was forced to close stores. The company fired Ratner and changed its name. Scholars coined the phrase "Doing a Ratner," It is estimated that he lost the company $10 billion in ten seconds.
Signet trades on the NYSE with the symbol SIG. You can find information on employment at the site Sterling Careers.
This section shows select transactions in the merger chain.
- 1949: Gerald Ratner founded the company in Richmond, Surrey, England. Ratner created the manufacturing company Jadales.
- 1975: Ratner expanded into The Netherlands.
- 1984: Ratner acquired Terry's which had 26 jewelry stores.
- 1985: Ratner sold Jadales. and its Netherlands operations.
- 1986: Ratner acquired H. Samuel Jewelry, which was the largest jeweler in the United Kingdom.
- 1987: Ratner acquired Ernest Jones jewelry which offered high priced jewelry.
- 1987: Ratner acquired Sterling Jewelers, based in Ohio, from Thomas H Lee Partners.
- 1987: Ratner acquired Westhall which was based in Ohio.
- 1988: Ratner acquired Ostermans, Time (Jersey) Ltd., Zales Jewelry Ltd. (U.K.), Salisbury's, and 73 additional U.K. stores from Next.
- 1989: Ratner acquired Weisfeld out of Seattle, Wa.
- 1990: Ratner acquired Kay Jewelers from Virginia bringing its total of US stores to over 1,000
- 1992: Gerald Ratner made a joke about the quality of jewelry in his store and ends up being forced out of the company.
- 1993: Ratner changes its name to Signet Group. The Ratner stores are rebranded as H. Samuel and they close 300 stores.
- 1998: Company relaunches Jared superstore brand.
- 2000: Signet aquired Marks & Morgan..
- 2003: Signet Jewelers acquired Zales
- Coconino County - Shopping: Kay Jewelers
- Phoenix Color - Jewelry: Kays Jewelers / Jared
- Pima County - Jewelry Stores: Signet Jewelers
- Yuma County - Jewelry Stores: Kay Jewelers
- Boulder Color - Jewelry: Signet Jewelers
- Colorado Springs Color - Jewelry: Kays Jewelers / Jared
- Denver Color - Jewelry Stores: Signet / Sterling Jewelers
- Durango Colorado - Shopping: Kays Jewelers
- Grand Junction - Gifts: Kays Jewelers / JB Robinson
- Pueblo Color - Shopping: JB Robinson and Kay Jewelers
- Missoula Websites - Flowers and Gifts: Kay Jewelers
- Ogden, Utah - Jewelry: Kay Jewelers
- Provo Utah - Jewelry: Kays Jewelers
- Saint George - Gifts: Kay Jewelers
- Salt Lake Sites - Jewelry: Jared and Kays Jewelers
- Cheyenne, Wyoming. US - Gifts: Kays Jewelers
- Funding Universe - Signet Group (Drawn 6/4/2019)
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