Pursuits
Kay Jewelers Owner Steps Up Promotions Amid Gem-Swapping Scandal
- Signet’s Mark Light says company is reviewing its process
- CEO complains of ‘orchestrated campaign’ by short sellers
This article is for subscribers only.
Signet Jewelers Ltd., owner of the Kay, Zales and Jared chains, is stepping up store promotions after diamond-swapping allegations tarnished the company’s reputation and dragged down its stock.
To get more customers in the door, Signet is amplifying previously planned discounts, Chief Executive Officer Mark Light said in an interview at Bloomberg’s New York headquarters. Signet is also reviewing the seven-step process the company uses to confirm the authenticity of gemstones.