1. Introduce Signet team: 1. Ron Ristau 2. Mark Light 3. Seb Hobbs
4. Ed Hrabak
5. George Murray
6. Tryna Kochanek
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2. Exciting things to share. How the present is driving the future.
Stakeholders benefit from …
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3. Multitude of competitive advantages.
Outstanding Customer Experience, driven by …
In-store teams.
Training.
Service.
Technology.
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4. Sector-leading advertising & creative campaigns. Strong store brands
Branded, differentiated, exclusive merchandise
Diversified store base
Supply chain leadership
In-house customer finance programs (US)
Solid financial performance & strong balance sheet = ability to invest
[trans] Solid foundation has led us to develop …
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5. Vision 2020: Long-term growth strategy.
With our future, our team & the investment community in mind.
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6. Bold moves … proactive …
Evolved approach to what we’ve done to this point.
Excited about where we can take this company over next 7 years.
Gives us a time frame to focus on what we need to do.
Evolution, not a revolution.
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7. Overarching Vision 2020 objectives: Maximize mid-to-upper-midmarket.
Be “best in bridal.”
Be best in class in digital ecosystem.
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8. V-2020 Objective #1: Our Goal: Lead mid-to-upper-mid market jewelry.
We’re a mid market jeweler now.
We’ve had a “specialty jeweler” mindset.
Competition goes beyond traditional jewelers.
Examples of other “mid-to-upper-midmarket” jewelers
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9. Mid Market Jewelry:
Above costume jewelry in US, above discounters in UK … but not “uber” luxury.
Lot of crossover.
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10. Expand opportunities to fulfill customers’ needs.
Opportunity to grow our market: people buy jewelry from a lot of retailers.
Expand opportunities to fulfill customers’ needs.
Explore formats, locations, product mix, field training, marketing.
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11. V-2020 will strengthen position as most relevant & prevalent company.
Bold evolution building on competitive strengths in both markets.
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12. Creating consistent initiatives: Company-wide.
Adjustments to localize offerings & execution.
Profitably grow share in mid-price tier jewelry / watch market.
Test growing products & adding new services.
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13. Mid market is our strength Largest growth opportunity.
Companies that build from core strengths are more likely to create sustained value.
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14. Core brands will stay true to heritage of Kay & Jared.
Strengthen targeting of younger demos.
More about merchandise, marketing, store growth & productivity later.
Initiatives that support our plans. Example …
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15. One aspect of mid-to-upper-mid market plan: Outlet.
Grew U.S. outlet store base with Ultra acquisition.
Why?
To gain a leadership position in an underdeveloped channel.
Exciting growth opportunity in strong or weak economy.
Different consumer mindset.
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16. Market has total sales of over $24 billion.
Major retailers are thriving there.
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17. Jewelry is $321 million … just over 1%.
Major market share to be gained in Outlet.
Acquisition took us from #3 to leadership position.
[trans] That’s one major initiative for maximize midmarket … you’ll hear more.
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18. Our next V-2020 objective is just as important …“Best in Bridal.”
We believe our U.S. bridal market share is around 15%
We’re very good at selling high-quality bridal merchandise.
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19. Goal is to be the destination for bridal:
In consumer & industry perception & in industry results.
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20. Working on this every day by enhancing … Great jewelry brands.
Great targeted marketing programs.
Outstanding store operations / selling systems.
Optimum real estate.
In-house credit program (U.S.).
Trade-ins & warranties.
Total merchandise accessibility.
Unparalleled customer engagement.
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21. We’re securing our own long-term supply of diamonds for the midmarket.
One aspect of Best in Bridal plan: Strategic Diamond Sourcing Initiative.
We’re securing our own long-term supply of diamonds for the midmarket.
Years in development.
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22. Direct access: gives us more control of the diamond supply.
Create sustainable competitive advantages to support growth of retail diamond business.
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23. Over 80% of world’s diamonds are cut / polished there.
Expect to open a polished diamond buying office in India – buyer is there 365 days. Why?
Over 80% of world’s diamonds are cut / polished there.
Expands supplier base to include more specialized & niche vendors.
Takes advantage of daily market fluctuations.
Accumulate our goods consistently & strategically.
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24. Result: More consistent quality, even better value for customers.
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25. We plan to acquire diamond factory in Gaborone, Botswana.
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26. Botswana: One of the largest producers of rough diamonds in the world.
Supplements our buying operation in India.
Supplements rough supplies from Rio Tinto & Dominion Diamond, etc..
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27. Factory + partnerships with other manufacturers is long-term win. How?
Ensure that our merchandising objectives will be met.
Cut diamonds exactly as we need to meet our customers’ demands.
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28. If it doesn’t fit our objectives, it doesn’t matter.
Comparable to credit operation: gives us control of the process.
Builds another competitive strength.
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29. Strategic Diamond Sourcing Initiative:
Gives us intimate knowledge & control of entire production process.
Costs, time, every phase of process.
Helps us manage our vendor base & improve supplier relationships.
Improves product availability.
Faster, more efficient, more linear.
Consistent supply of diamonds.
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30. An initiative that benefits U.S. & UK.
Controlling our destiny for long-term growth in both markets.
[Trans] Third V-2020 plan is equally critical …
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31. Best-in-class Digital EcoSystem in U.S. & UK. Supports our goals of:
Leading mid-to-upper-midmarket.
Being best in bridal.
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32. Working to make every selling environment integrated & supportive:
Brick & mortar stores
Design & Service Centers
Internet channels
Social media platforms
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33. Many e-commerce sales are completed in-store.
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34. We’re optimizing customer experiences for desktop & mobile.
Surround customer with e-commerce & social media touchpoints.
Focuses on accelerating customers’ engagement with brands.
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35. Websites: Evolving Kay.com & Jared.com. Redesigning UK systems.
Engaged teams in the UK & U.S.
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36. New KayOutlet.com website & Mobile apps.
Launching this month.
KayOutlet.com has become e-commerce enabled.
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37. Launched micro sites in UK for key brands & categories
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38. Education Center (compare to WebMD)
Immediate access to relevant information available about jewelry.
Rich-media content including video & infographics.
Accessible from anywhere.
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39. US Mobile Site:
40+% of Kay/Jared.com e-commerce sessions originate from smartphones or tablets.
2nd-quarter e-commerce sales up 36% in U.S.
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40. Launched a high-value app for smart phones & tablets.
US Mobile App
Launched a high-value app for smart phones & tablets.
Allows customers to manage credit.
See account & bill-pay with phone.
Store locator.
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41. UK mobile site launched in summer
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42. Deployed new tablet-optimized version of our site(s) for iPad.
Makes browsing / shopping experience easier.
Android tablet-optimized version is coming.
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43. Tablets in stores:
Enables team’s mobility & fingertip access to every item.
Helps deliver user-friendly & cutting edge customer experience.
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44. Rolling out tablets to all UK stores later this year
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45.
Customers very particular how they connect & who they connect with.
Launched Customer Preference Center w/ExacTarget.
Allows customers to tell us what notices they want; e.g.: LeVian content only.
address captures: sweepstakes promotions, on Facebook, at the register.
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46. Social media: Being relevant means personalized communication.
Social Media is ultimate personalization.
One-to-many / many-to-one global conversation you can’t get through other channels.
Talk to a person, a targeted group – all-encompassing communication.
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47. Ultimate engagement leads to Ultimate Customer Experience.
We linked ratings / reviews between our websites & social media platforms.
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48. Partnership with TheKnot.com
“What’s Your Wedding Ring Style Quiz & Sweepstakes.”
1000s checked out their wedding ring, & entered our sweepstakes.
Came to our stores to see their perfect wedding band style in real life.
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49. Kay YouTube Channel: Features brand videos. Educational videos.
Fashion tips & trends videos.
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50. Facebook pages: Facebook is top referring site to Kay & Jared.com.
Positive feedback
Exceptional customer service.
Excitement over products.
Enthusiasm surrounding promotions.
Ratings/reviews tied to our websites
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51. Digital EcoSystem marketing.
Part of Omni-Channel approach which includes TV, radio, print, outdoor, collateral.
All paths lead to Signet/Sterling:
Kay/Jared.com -Twitter
The Knot -YouTube TV
Facebook
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52. Our goal: be best in class in Digital EcoSystem in both markets.
Launch new products & services for all touchpoints.
Drive outstanding customer experience.
Increase our international customer reach.
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53. [BRIDGE TO CONCLUSION: Sponsorship with Pro Football HoF]
Exciting new sponsorship
Looking at every opportunity to maximize our sponsorships.
Kay is now the Official Jewelry Store of the Pro Football Hall of Fame Ring.
Providing rings to the inductees of the Pro Football Hall of Fame
Another example of placement power that supports our strategic goals.
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54. Conclusion re: Vision 2020
Three main objectives are road map to a new perception of industry leadership for Signet:
Lead mid-to-upper-midmarket.
Be “Best in Bridal.”
Be best in class in Digital EcoSystem.
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55. Next three speakers will go deeper, followed by Q&A. Intro Mark Light.
Cue 48