Overview
Signet Group plc is the world’s largest speciality retail jeweller and operates leading operations in both the US and UK. The US market accounts for approximately 50% of worldwide jewellery sales and the UK for around 7%.
Signet is the largest US speciality retail jeweller by sales having an approximate 4.2% share of the $64.7 billion total jewellery market from 1,399 stores in 50 states at 2 February 2008. Its mall stores trade nationwide as Kay Jewelers (“Kay”), and regionally under a number of well-established and recognised names. Destination superstores trade as Jared The Galleria Of Jewelry (“Jared”).
In the UK, Signet is the largest speciality retailer of fine jewellery with 563 stores at 2 February 2008 and 12.1% share of the £4.5 billion total jewellery market. Primarily situated in prime ‘High Street’ locations (main shopping thoroughfares with high pedestrian traffic) or shopping malls, the stores trade as “H.Samuel”, “Ernest Jones” and “Leslie Davis”.
Building long term value through customer focus
The Group aims to build long term value through focussing on the customer by providing a superior merchandise selection in high quality real estate locations. Effective advertising draws consumers into our stores, where they are provided with oustanding service. The operating philosophies that help the Group achieve these aims are:
- excellence in execution;
- test before we invest;
- continuous improvement; and
- disciplined investment.
The Group's strategy to deliver shareholder value is to:
- continue to acheive sector leading performance standards on both sides of the Atlantic;
- increase store productivity in the US and the UK;
- grow new store space in the US; and
- maintain a strong balance sheet.
Maintaining our competitive edge
Our strengths lie in our superior staff, processes and systems accross all retail disciplines. These have been built up over time and developed according to the above objectives and philosophies.
Excellence in customer service
- Continuous training in customer service & product knowledge
- Highly motivated staff
- Sales-facilitating credit programmes
Superior merchandise selection
- Demand-driven merchandising systems
- Value adding supply chain capabilities
- Increasingly exclusive product ranges
- Sales growth driving marketing leverage
- Largest marketing budgets in speciality jewellery sector
- Building brand values
- Repair service building trust & customer visits
- Prime store locations
- Service oriented design
- Improved customer experience through consistent store investment