E-commerce

Signet Jewelers acquiring Blue Nile in $360M cash deal

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August 16, 2022

Signet Jewelers Limited, a global retailer of diamond jewelry, is buying online fine jewelry company Blue Nile Inc. for $360 million in cash.

The acquisition will strengthen Signet's market share in the retail bridal and accessible luxury space, according to a press release.

Blue Nile's revenue was more than $500 million in calendar year 2021. Blue Nile will be strategically positioned at the top tier of Signet's Accessible Luxury banners along with Jared, James Allen and Diamonds Direct.

"Blue Nile is a pioneer and innovator in online engagement rings and fine jewelry, providing a unique and highly desirable shopping experience for customers," Signet CEO Virginia Drosos said in the release. "Adding Blue Nile to our strong and diversified portfolio of banners will further drive our Inspiring Brilliance growth strategy — expanding customer choice, building new capabilities and achieving meaningful operating synergies that will increase value for both our consumers and shareholders."