Signet Group plc (NYSE: SIG) is the world's largest specialty jewelry retailer with over $3.3 billion in sales in fiscal 2010.^[1] The company operates in the United Kingdom and the United States, where it owns jewelry chains such as Kay Jewelers and JB Robins Jewelers. The US Bureau of Economic Analysis (BEA) estimates that Signet has approximately 4.4% of the $58.8 billion total jewelry market.^[2]

Despite being the world's largest specialty jeweler, Signet only earned a 8.3% operating margin,^[1] considerably lower than some of its competitors, including Tiffany's. This is because of the relatively low price points Signet sets for its jewelry, placing it in the "affordable luxury" space. The company's goal is to provide value and pass along cost savings to shoppers, which appeals to the middle-income consumer. Signet's low gross margin is also partially because the company buys polished diamonds directly, rather than finishing rough diamonds in-house.

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