Signet Jewelers Limited

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Signet Jewelers Limited
legal form Limited
ISIN BMG812761002
founding 1949
Seat Hamilton , BermudaBermudaBermuda 
management Virginia C. Drosos ( CEO )
Number of employees 24,888
sales 6.25 billion US dollars
Branch Jewelry stores
Website www.signetjewelers.com
Status: 2018

One of Signet Jewelers Limited's Jared stores in Hillsboro , Oregon

Signet Jewelers Limited , known as the Ratner Group from 1949 to 1993 and Signet Group plc from 1993 to September 2008 , is the world's largest jewelry chain . The Bermuda-based company, which is headquartered in Birmingham, UK, is traded on both the New York Stock Exchange and the London Stock Exchange . The company focuses on mid-range jewelry and watch sales and is the market leader in the US and UK. The chains "Jared" in the USA and "Ernest Jones" and "Leslie Davis" in Great Britain, which are part of the company, are active in the upper price segment.

Company history

The company was founded in 1949 by Leslie Ratner. The company was able to expand on its own until the late 1980s. In the late 1980s and the beginning of the 1990s, the group of companies, which at the time was still largely family-owned, grew mainly by taking over other jewelry stores.

The company's reputation was badly damaged when Gerald Ratner , son of Leslie Ratner and at the time the company's CEO, made derogatory comments in a 1991 speech to the UK Institute of Directors about the quality of individual products:

“We also have crystal sherry carafes complete with six glasses and a silver-plated tray for £ 4.95 for your butler to serve your drink on. People ask how can you sell something like this for such a low price? I say we can because it's total crap. "

He then went on to say that some of the earrings would cost no more than a Marks & Spencers crab sandwich but would last less than this. In the following days, the press reported in detail about his statements. The company's share price fell from £ 2 to less than 8 pence, wiping out more than £ 500 million in market value. The company, which had posted a profit of £ 112 million in 1991, posted a loss of £ 122 million in 1992. Marketing expert Tom Blacket commented that consumers are now embarrassed to own one of the company's products. As a result, more than 300 branches were closed between January 1992 and May 1994. The company had to be restructured, Ratner himself was forced to leave the company.

The Patzer Ratner, classified as evidence of a lack of judgment and contempt for one's own customers, led to the expression “doing a ratner” in English - a play on words that denotes the meaning of “to rat” (German: betraying someone or whistling over someone or someone in Let down).

marketing

One of the UK branches in Leeds

In January 2010, Signet had 1933 branches. 1,379 of the stores were in the United States, where the company was named Kay Jewelers, Jared - The Galleria of Jewelry and with regional branches JB Robinson Jewelers, Marks & Morgan Jewelers, Belden Jewelers, Osterman Jewelers, Shaw's Jewelers, Weisfield's Jewelers, LeRoy's Jewelers , Rogers Jewelers, Goodman Jewelers and Friedlander's Jewelers occurs. Kay Jewelers is the most important brand among them that has branches exclusively in shopping centers . Jared - The Galleria of Jewelry, on the other hand, operates exclusively outside of shopping centers. All US branches are managed by a subsidiary of Signet Jewelry, Sterling Jewelers, Inc. The 553 stores in the UK operate under the names H. Samuel, Ernest Jones and Leslie Davis. H. Samuel is the most important British brand with 348 branches.

The British brand Ernest Jones focuses on more expensive goods than H. Samuel. The watches sold by Ernest Jones include the brands TAG Heuer , RADO Switzerland, Gucci , Longines and Omega; some of the branches also carry Rolex watches . As of January 2, 2010, 191 branches were operating under this name.

The Leslie Davis brand is marketed by Signet Jeweler as Jewelers of Distinction (the jeweler with the subtle difference). The selection is a little more fashion-oriented than in the Ernest Jones branches. In addition to watches from brands such as Omega and TAG Heuer, watches from fashion designers such as Gucci, Armani , Christian Dior and Burberry are also offered. In 2011, the company had eleven Leslie Davis branches.

literature

  • Matt Haig: Brand Failures, The Truth About The 100 Biggest Branding Mistakes of All Time . Kogan Page, London / Philadelphia, PA 2011, ISBN 978-0-7494-6300-7 (English).

Web links

Single receipts

  1. ↑ Signet Jewelers: Executive Officers - Signet Leadership Team , accessed February 14, 2019
  2. ↑ Signet Jewelers: 2018 Annual Report , accessed February 14, 2019
  3. ↑ Annual Report 2013, published on February 2, 2013 ( memento of the original from April 18, 2014 in the web archive archive.today ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. , accessed on April 18, 2014 @1@ 2Template: Webachiv / IABot / ir.signetjewelers.com
  4. ↑ Company history on the Signet Jewelers Limited website , accessed May 3, 2014
  5. ↑ A body to support, represent interests and provide guidelines for business leaders
  6. ↑ Doing a Ratner and other famous gaffes, The Telegraph of December 22, 2007 , accessed on April 18, 2014. The original quote is: We also do cut-glass sherry decanters complete with six glasses on a silver-plated tray that yours butler can serve you drinks on, all for £ 4.95. People say, 'How can you sell this for such a low price?' I say, because it's total crap.
  7. ↑ a b c d Matt Haig: Brand Failures . Kogan Page, London 2011, ISBN 978-0-7494-6300-7 , p. 137 (English).
  8. ↑ BBS News reminds of Ratner's mistake , accessed on April 18, 2014
  9. ^ 'Doing a Ratner' and other famous gaffes . In: The Daily Telegraph , December 22, 2007. Retrieved April 18, 2014. 
  10. ↑ Bill Wilson: Barclay chief's gaffe recalls Ratner howler . In: BBC News Online , October 17, 2003. Retrieved April 14, 2010. 
  11. ↑ Annual Report 2013, published on February 2, 2013 ( memento of the original from April 18, 2014 in the web archive archive.today ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. , accessed on April 18, 2014 @1@ 2Template: Webachiv / IABot / ir.signetjewelers.com