Signet Jewelers has revealed its acquisition of jewellery rental subscription platform Rocksbox, a move that could signal a shift in focus for the “world’s largest diamond jewellery retailer” as Signet bills itself.
Rocksbox invites monthly members to rent and swap exclusive and designer jewellery styles through its online platform.
Rocksbox claims to offer customers the latest trending jewellery pieces at an affordable price point while also delivering sustainability benefits as items are circulated and re-used throughout the marketplace.
The 2012-founded company was started by Meaghan Rose, and thus far only operates in the US, but the acquisition could hint at a future change for Signet’s business strategy internationally too, including in the UK.
Signet, which in the UK runs H Samuel and Ernest Jones, said the move was part of its ‘Inspiring Brilliance’ business strategy.
Signet CEO Virginia C. Drosos commented: “I’m delighted to welcome the talented Rocksbox team to our Signet family and am confident this union will generate exciting opportunities to accelerate our growth in services and reach new customers.
“Under CEO Meaghan Rose’s leadership, Rocksbox has revolutionised the jewellery rental subscription marketplace by delivering personalised, online and data-driven customer experiences for jewellery lovers who prioritise fashion, online convenience and sustainability.
“We look forward to bringing Rocksbox’s outstanding services to more customers, and to introducing those new customers to the balance of Signet’s banners.”
Meanwhile, Meaghan Rose, founder and CEO of Rocksbox, said: “We are excited to join Signet and to play an important role in its purpose-driven growth strategy – Inspiring Brilliance – while also taking the company we’ve so passionately grown to an entirely new level.
“I started Rocksbox to make it easy and fun for women to discover jewellery that they love – and that won’t change.
“We’re excited to give even more members the opportunity to experiment with new, fashionable jewellery styles through a technology-enabled, personalised rental experience.
“As a customer-first, data-driven and values-oriented company, we were selective about finding the right partner. I am proud to join the Signet team and excited about the opportunities this alignment brings.”