Signet Jewelers (SIG) Confirms Acquisition of Rocksbox

Signet Jewelers Limited (NYSE: SIG), the world's largest retailer of diamond jewelry, today announced it has acquired Rocksbox, an innovative jewelry rental subscription platform, giving it a significant foothold in a growing online service that speaks to next-generation jewelry customers. The acquisition is driven by Signet's "Inspiring Brilliance" strategy and is intended to accelerate growth in the services category.

"I'm delighted to welcome the talented Rocksbox team to our Signet family and am confident this union will generate exciting opportunities to accelerate our growth in services and reach new customers," said Signet CEO Virginia C. Drosos. "Under CEO Meaghan Rose's leadership, Rocksbox has revolutionized the jewelry rental subscription marketplace by delivering personalized, online and data-driven customer experiences for jewelry lovers who prioritize fashion, online convenience and sustainability. We look forward to bringing Rocksbox's outstanding services to more customers, and to introducing those new customers to the balance of Signet's banners."

Rocksbox was launched in 2012 by Rose, a jewelry lover and former strategy consultant, with an inspiring mission: "To bring the joy of jewelry to every person." Rocksbox invites monthly members to rent and swap exclusive and designer jewelry styles, using its intuitive online platform. Today, the company's growing customer base consists of women who are stylish and tech savvy. Rocksbox is a leader in the circular economy, ensuring customers have the latest trending jewelry at an affordable price point while also delivering sustainability benefits as items are circulated and re-used throughout the marketplace. Rocksbox further strengthens Signet's industry-leading portfolio of banners that includes Kay, Zales, Jared, Peoples, jamesallen.com, H. Samuel, Ernest Jones, and Piercing Pagoda. It provides an additional point of entry for self-purchasing women customers, a segment where Signet is currently under-developed, and is expected to help Signet continue extending its market share.

"We are excited to join Signet and to play an important role in its purpose-driven growth strategy - Inspiring Brilliance - while also taking the company we've so passionately grown to an entirely new level," said Meaghan Rose, founder and CEO of Rocksbox. "I started Rocksbox to make it easy and fun for women to discover jewelry that they love – and that won't change. We're excited to give even more members the opportunity to experiment with new, fashionable jewelry styles through a technology-enabled, personalized rental experience. As a customer-first, data-driven and values-oriented company, we were selective about finding the right partner. I am proud to join the Signet team and excited about the opportunities this alignment brings."

Signet recently announced that it is focusing on the acceleration of its Services business as part of the company's Inspiring Brilliance growth strategy. The company expects to expand its current services such as repair, warranty services and piercings, while also introducing new ones. With jewelry rental subscription, Signet will tap into a highly engaged customer base, generate a new revenue stream, and bring yet another capability into its connected-commerce strategy, which is focused on serving customers whenever, wherever and however they want to engage with Signet and its retail banners.

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