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This, mixed with chain-wide inventory down 14% from final yr while many unbiased retailers are sitting on unsold stock, offers Signet a competitive advantage. Its DTC Blue Nile banner is inextricably linked to diamonds in consumers’ minds, and diamonds are the specialty of its Diamonds Direct big-box vacation spot stores. The chain was acquired in late 2021 with 22 shops; Signet’s added seven stores since then to convey the whole to 30 Diamonds Direct stores. What provides Drosos hope for the coming quarter, subsequent 12 months and past is the return of the bridal jewelry market, which accounts for half of the company’s gross sales.

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“After talking with our clients and community, we realised so many of us have pieces gathering mud in our jewelry packing containers, and we needed to offer a sustainable answer to this. This is how the second life service was born,” says co-founder Jessica Warch. When Beyoncé appeared throughout her Renaissance tour sporting a Tiffany & Co. minidress made totally of diamonds, it grew to become clear that jewellers are thinking out the field.