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Forbes
16-06-2025
- Business
- Forbes
Rocksbox Opens Stores To Sell Not Rent Jewelry Under Signet's New ‘Grow Brand Love' Strategy
Close-up of bohemian woman with freckles wearing boho style silver turquoise rings and necklaces Rocksbox just opened a fashion jewelry store in Walnut Creek, CA's Broadway Plaza outdoor mall. This marks Rocksbox's third store, following its Fillmore Street location in San Francisco and Elizabeth Street store in the Nolita neighborhood of New York City. A handful of other Rocksbox store openings will follow this year as Rocksbox transforms from a jewelry rental subscription model to a bricks-and-clicks retail destination for fashion-forward jewelry. It will feature leading designer brands, including Kendra Scott, Kate Spade, Ana Luisa, and Lele Sadoughi, as well as Rocksbox private label and pre-owned jewelry selections. This move is part of Signet Jewelers' new 'Grow Brand Love' growth strategy introduced by new CEO J.K. Symancyk in March. One of its aims is to continue to grow its core bridal jewelry business while expanding into 'adjacencies,' such as the much larger fashion jewelry segment. Signet figures it has a 28% share of the $10 billion addressable market in bridal jewelry compared to only a 6% share of the $50 billion fashion jewelry space. 'This is a test of what a fashion offering can mean to our business,' CFO Joan Hilson shared with me, adding that Rocksbox's move into stores is 'an exciting new format for us.' Rocksbox was launched by entrepreneur Meaghahn Rose in 2012 as a digitally-native jewelry rental subscription service. It was acquired by Signet Jewelers in 2021 and continued to operate under the subscription rental model until the middle of last year. It discovered the Rocksbox model was not a good fit with Signet's core businesses and brands, which include: Finding the subscription rental model was becoming a barrier to growth, it ended the rental program, which had also been tested in Signet's Zales stores in 50 markets, and shifted to a retail sales model. 'We've increasingly seen customers interested in purchasing the jewelry outright and adding to their collection – especially styles that are pre-owned and from designers that represent their values,' Rocksbox president Allison Vigil shared with RetailDive at the time of the shift. Now it is carrying forward Rocksbox' brand transformation into physical stores where Signet has proven itself to be a leader. It operates some 2,600 retail stores, making it the jewelry retail market leader in the U.S. It is also the world's largest retailer of diamond jewelry. As Rocksbox introduces itself to new customers as a jewelry fashion destination for self-purchase and gifting, it will serve as a proving ground for another pillar of the 'Grow Brand Love' strategy: to grow through a brand mindset. Rocksbox is just getting started honing its new image, unlike others in its portfolio which have long-standing relationship with customers and an identify built over the years. Previously, Signet always referred to its numerous jewelry businesses, such as Kay, Zales and Jared, as banners, not brands. However, the focus on branding is more than just a change in semantics. 'We're moving to think about our brands so each can focus on what is unique to their customers,' Hilson explained. 'Each team is dedicated to fully owning and bringing their brand to life for their customer.' The new branding initiative will focus on refining, realigning, and further differentiating each brand, and learnings from one will undoubtedly transfer to others, especially in the fashion jewelry market where it has the greatest growth potential. Signet has started with sharpening the branding sword for its core flagship brands – Kay, Zales and Jared. For example, Kay – 'Every kiss begins with K' and its bridal and gifting core – has just appointed its first chief love officer, Teddy Swims. Jared is launching a new fashion campaign to enhance its aspirational positioning in the luxury jewelry market, and Zales has found success with its 'Own it' campaign targeting its fashion jewelry collections as a means for personal self-expression. Signet's success depends heavily on these three flagship brands. In the latest first quarter earnings call, Symancyk explained that one point of comp group in these three brands has the same impact on Signet's overall performance as six points of growth in its remaining brands. 'Results for these three brands is already delivering a combined 4% comp sales in the first quarter, with continued trend in May,' he added. Signet has been battling headwinds recently after revenues dropped nearly 15% from fiscal 2023 through fiscal 2025, from $7.8 billion to $6.7 billion. Yet, in the first quarter 2026, ended May 3, overall revenues were up 2% to $1.5 billion and same-store sales rose 2.5%, which Jefferies reports is the first time in 12 successive quarters that comp sales in North America inflected positive. And adjusted operating income rose from $57.8 million last year to $70.3 million this. Average unit retail sales also got an 8% boost, partly owing to a 60% increase in lab-grown diamond sales in fashion jewelry. Fashion price points in the $200 to $500 range are particularly strong. Jefferies analyst Randal Konik wrote in an investor note that Signet is turning the corner: 'Signet Jewelers, a leading jewelry and watch retailer in North America, is undergoing a strategic transformation under its 'Grow Brand Love' initiative," and demonstrating early signs of success, including consumer engagement outpacing peers, steadily improving web traffic growth, which just inflected positive, steadily improving comp growth across all regions which just inflected positive in NA, increased higher-margin Service sales penetration, and overall enhanced profitability.' Another positive sign is plans to shrink mall revenue penetration to less than 30% of revenues from around 35% currently in North America and move to more productive off-mall locations and e-commerce channels. Just under 100 underperforming stores will close this year, primarily those in weaker mall locations with leases set to expire this year. Over the next three years, some 200 'high-value' stores in declining venues will be shifted. And Symancyk reassured investors that threatened Trump tariffs aren't going to hold it back as it revised guidance upward at the lower end of its revenue range between $6.57 billion and $6.8 billion and adjusted EBITDA to between $615 million and $695 million. 'We believe that we can navigate tariffs as they stand today within our full-year guidance through a combination of vendor negotiations, value engineering of new and existing styles, as well as promotion and life cycle management,' he concluded. See also:
Telegraph
19-05-2025
- Entertainment
- Telegraph
How folksy grandad became the coolest guy in fashion
Homespun knitwear once ran the risk of making you look like Compo from Last of The Summer Wine, however in 2025 you're more likely to see a jumper featuring a novelty mallard in trendy east London than at a country fair. Kombucha-swigging hipsters are embracing folksy grandad style, clad in artfully 'unfinished' designer knitwear featuring hanging threads of yarn and backless clogs that make the wearer look as if they probably own a ukulele. Harry Styles has become a poster boy for this boho-adjacent look, however the trend isn't just reserved for popstars with the confidence to wear a beaded necklace. SS Daley, the cult British brand launched by fashion wunderkind Steven Stokey-Daley and famed for its bird-watching shirts and farmyard knitwear, is launching at John Lewis on 19 May. It's a strategic move by the retailer to boost its fashion credentials – Harry Styles is such a fan of the house that he became a 'minority stake' investor. The goldfish jumper featured in the John Lewis collection looks as if it could have been knitted from a pattern and wool found in the store's beloved haberdashery department, which epitomises the founder's nostalgic sensibilities and the modern perspective he brings to eccentric, heritage dressing. SS Daley Archie Lambswool Fish Zip-Through Knit in Blue Fish, £525, John Lewis The makers themselves are at the heart of this homespun trend and no one epitomises this better than British brand Folk, which this spring celebrates its 25th anniversary with an archive collection that celebrates nostalgic design. To reiterate the focus on the artisan, it is also collaborating with five creatives to create special artworks inspired by the humble pencil. Another British brand that deserves an honourable mention is Story MFG – Zak Maoui, style director of Gentleman's Journal, says it is 'the label that comes to mind most for this look', as he believes 'it's the UK's answer to Bode, and is perhaps even better when it comes to its attention to craftsmanship'. 'It's not hard to see these craft-focused brands as an antidote to the digital age: something that's not fast fashion, covered in logos, and has at least some evidence of the human hand,' explains Johnny Davis, style director at Esquire. 'These clothes have an individuality, a meaning and they invite conversation.' It's also part of a wave of anti-algorithm styling – Maoui explains this is a direct protest against Shein and Boohoo's conveyor belt of polyester. The spiralling cost of luxury fashion is also sparking a renewed appreciation for the art of making clothes. 'I think we're seeing more and more people wake up to the fact that just because something is the most expensive brand doesn't necessarily mean that it's the best-made product,' says Liam Hess, American Vogue 's senior lifestyle editor. With brands like Bode, Story MFG or By Walid, 'you really feel like you're spending that money getting something unique and truly special, as opposed to a jacket from a conglomerate-owned brand that is produced in its thousands'. Hess also notes that not only is the attention to detail higher, but 'their business practices are generally more sustainable, and you're supporting an independent brand in the process'. While a Bode quilted shirt costs around £700 (enough to make an original folk grandad spit out their ginger tea), you can also master the look on a charity shop budget. 'The cool thing about this folksy, craft-led trend is that if you're into it, you can achieve the look by investing some time to scour vintage stores and eBay,' adds Hess. 'It's fun that it feels more democratic.' Plus, visible repairs and imperfections only add to the charm. 'Nothing says folksy grandad like something well-worn and mended,' adds Will Halbert, menswear writer. 'Invest in good vintage – that way, most of the mileage and natural patina is done for you – and remember that scuffs and scars are character building, as is learning how to sew on a button.' It does, however, require considered styling so that you don't actually look like Nicholas Hoult in About A Boy. 'Stick to one statement garment that leans into the trend,' advises Maoui. 'Going too OTT will make you, as with anything, look costume-like and pretentious.' Davis agrees that it's essential you 'avoid the crime of everything at once'. There is such a thing as too much craft, so don't mix patchwork with embroidery with novelty knits, or you will rapidly enter into retired art teacher territory. 'Your grandad has always dressed better than you, it just took you this long to see it,' quips Halbert, who notes that 'the gorp-core hangover is real and skinny-fit fatigue is at full peak', so people are experimenting with looser silhouettes and returning to natural fabrics. 'The rises are getting higher, the legs are getting wider, and people are having more fun with denser textures and less conventional volumes,' he explains. SS Daley Clarence Cotton Blend Trousers in Yellow, £525, John Lewis You do need to exercise some caution when it comes to the volume, however, in order to not look like an actual grandad. 'Lots of these pieces are cut big, with natural volume, so don't lean into that,' advises Davis. 'Don't tuck shirts in, or overly layer up accessories and other distracting items.' Take the mustard yellow SS Daley trousers that you can buy at John Lewis, which have a curved, tapered leg and lots of excess fabric at the knee, for example. Davis advises you style these with a structured coat or jacket on top to focus attention on the voluminous shape of the trousers, which is 'the point of them'. The idea is to bring a youthful energy and a wink and a nod to once dusty, grandad staples. 'Harry Styles is a good person to look at, as he gives folksy dressing a modern edge, wearing band tees with cardigans and Bode shorts,' says Maoui, along with Saltburn 's Jacob Elordi who 'loves an oversized cardi'. These stars are ushering in a more playful approach to menswear, with clothing that invites conversation and has a sense of humour. If a mallard jumper can't spark some interesting chat, then what can? Folksy grandad brands to discover
