Diamond retailer Signet Jewelers has announced the acquisition of Rocksbox, a jewellery rental subscription platform for an undisclosed sum.
Driven by the group’s “inspiring brilliance” strategy, the deal will provide Signet with a foothold and accelerated growth in the growing online service.
Founded in 2012, Rocksbox allows subscribers to rent and swap exclusive designer pieces through the online platform.
The group provides an additional point of entry for self-purchasing women, an area where Signet’s operations are currently lacking.
Rose, CEO at 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.
“We’re excited to give even more members the opportunity to experiment with new, fashionable jewellery styles through a technology-enabled, personalised rental experience.”
The deal represents an expansion to Signet’s portfolio of banners, which also includes Kay, Zales, Jared, Peoples, H Samuel, Ernest Jones, and Piercing Pagoda.
Virginia Drosos, CEO at the diamond retailer, said that she is “confident this union will generate exciting opportunities” to facilitate growth in the services area.
She added: “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.”