Signet Buys SJR National Repair Center

Signet Jewelers has acquired the assets of SJR National Repair Center as the US retail giant looks to expand its services division.

The deal, which is already complete, comes alongside the transition of the Blue Nile fulfillment center in Seattle to a new central repair facility, a Signet spokesperson said Monday. The parties did not disclose financial details.

SJR, which stands for Service Jewelry Repair, was founded by former employees of Service Merchandise, a chain of catalog showrooms that shut in 2002. Its national repair center in Brentwood, Tennessee, serves more than 4,000 stores across the country.

Signet aims to grow its services division to $1.2 billion in annual revenue over time, some $500 million more than at present, management said at an investor day in April. Sales for the business rose 9% to $706.6 million in the fiscal year that ended January 28, 2023.

“The capabilities of SJR National Repair Center and the Blue Nile Seattle fulfillment center complement the capabilities of our existing team of 1,800 jewelers and further position Signet Jewelers as the most prominent services provider in the industry today,” the Signet spokesperson commented.

Image: Signet Jewelers’ headquarters in Akron, Ohio. (Signet Jewelers)