“Rocksbox is a great fit for us and builds on trends in sustainable commerce and the circular economy,” she continued. “Rocksbox shares our values and exists to offer joy of jewelry for all. They are highly data-oriented, active in social media and digital marketing, and have a highly innovative and entrepreneurial spirit which is the culture we’ve been building at Signet and which helped us perform so well during Covid.
Acquired for an undisclosed price, the company also didn’t release the number of Rocksbox subscribers, but it said the Rocksbox customer base shores up a weakness in Signet’s own: that of self-purchasing women. This new phase hinges on attracting new customers to grow market leadership; expanding in ‘accessible’ luxury and value segments; accelerating digital e-commerce; and growing its service offerings.
Considering that Signet is roughly a $6 billion business, though it hit a speedbump in the pandemic year, that represents a huge potential growth segment for the business.