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Sourcing & manufacturing ability for rough diamond by Signet

Dec '05
Speciality retail jeweler Signet Group plc has taken important steps in securing supplies of diamonds by further developing its rough diamond sourcing and manufacturing capabilities.

The Group envisages that it will obtain supplies of rough diamonds from several sources and that they will be polished in state-of-the-art manufacturing units. The objective of this initiative is to secure additional, reliable and consistent supplies of diamonds for Signet's customers. As part of this process, Signet has appointed Hennig, the world's largest international diamond consultancy and broking firm, to act as its strategic consultant on rough diamond related issues.

The methodical development of a rough diamond sourcing and manufacturing capacity is set to augment Signet's well established capabilities for sourcing polished diamonds. These goods will complement the Group's existing polished resources and further ensure consistent availability of desired sizes and qualities of diamonds for its customers.

Signet's understanding of the demand for polished stones and the ability to use the output of this initiative gives the Group an advantage in building a rough diamond capacity.

This initiative is one of a number of steps, with regards to the supply chain, being taken by Signet to support its growth and reinforce its leading position in the retail jewellery sector. It is the next stage in developing its existing capacity for sourcing and polishing rough diamonds. As part of the on-going process to enhance its supply chain, Signet also continuously develops and expands its relationship with its current suppliers of polished diamonds and diamond jewellery.

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