Diamond News Archives
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(IDEX Online) - Signet today said it had signed a deal to buy the online jeweler Blue Nile in a $360m all-cash deal.
Signet, the world's largest retailer of diamond jewelry, said it was a strategic acquisition that would "accelerate efforts to expand its bridal offerings and grow its Accessible Luxury portfolio."
Blue Nile claims to have over 650,00 diamonds available for sale, and says it has served more than 2.7 million customers to date.
CEO Virginia C. Drosos said: "Blue Nile is a pioneer and innovator in online engagement rings and fine jewelry, providing a unique and highly desirable shopping experience for customers."
Blue Nile, established in Seattle in 1999, and went public in 2004. It was bought privately by Bain Capital Private Equity and Bow Street LLC for $500m in 2016. Last month it revealed plans to rejoin the stock market, with a valuation of $873m....
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(IDEX Online) - The growth in US sales of jewelry and watches in June dropped to its lowest level in two years, barely above zero at 0.8 per cent (and too small to register on the graph below).
Think back just over a year to April 2021, when year-on-year growth was an unprecedented 218 per cent. And to the previous April when it was minus 54 per cent.
June 2022 was the month when the US annual inflation rate hit 9.1 per cent, the highest since November 1981, although consumer spending generally was higher than predicted, at 1.1 per cent.
IDEX Online subscribers please click here [1]to read the full report....
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