Blue Nile, a division of Signet Jewelers, became the exclusive North American retailer of Royal Asscher diamonds and jewelry through a multiyear licensing agreement that was disclosed Monday.
The company will be using the six Royal Asscher patented cut diamonds for collections, as well as selling the recently launched Curated by the Asscher Family and the Six by Royal Asscher collections.
The collaboration with the Royal Asscher Diamond Co. is an important component of Blue Nile’s strategy to focus more on natural diamonds and establish itself as the premiere luxury jewelry brand within Signet’s portfolio.
“This partnership will help Blue Nile cement an elevated position within the diamond jewelry market,” Joan Hilson, Signet’s chief financial and operating officer, told WWD. At Blue Nile, “Our intention is to be natural diamond leading, and to focus on the enduring value of a natural diamond. We will offer our customers other gemstones as well as lab-grown diamonds. But we’re seeing revenue being driven in natural diamonds, particularly in the engagement market. Ninety percent of engagement rings over $5,000 are natural diamonds. So we’re focused on continuing to drive that aspect of the business.”
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There have been other initiatives aimed at elevating Blue Nile. The Clear Cut, a concierge service providing guidance from gemologists on purchasing diamonds and proprietary technology, was acquired earlier this year. And the James Allen brand, purchased by Signet about a decade ago, became a proprietary brand on the Blue Nile website while jamesallen.com was discontinued.
In addition, Pam Cloud, a 30-year veteran of the jewelry industry joined Blue Nile in August after nearly 26 years working at Tiffany & Co., most recently as senior vice president and chief merchandising officer.
The initiatives at Blue Nile fall under Signet’s overall “Grow Brand Love” strategy to differentiate four core brands — Kay, Zales, Jared and Blue Nile — bring greater style and design-led items to the assortments, pump up bridal jewelry, centralize certain functions and consolidate some brands in pursuit of operating efficiencies and greater agility.
“If you think of how we are positioning our brands, the top of the house would be Blue Nile. Then it would be Diamonds Direct, then Jared, and the mid market would be Kay and Zales,” Hilson said. “That is the goal.”
“For more than two decades, Blue Nile has transformed how consumers shop for diamonds through transparency, innovation and trust,” Cloud said. “Now, we are building on that legacy with Royal Asscher, one of the most respected names in diamond craftsmanship.…There’s a feature of this program called Curated by the Asscher family, which is a mark of trust giving reassurance to customers that these stone have been cut for the most beautiful light return possible.”
Founded in Amsterdam in 1853, the Royal Asscher Diamond Company has been led by six generations of the Asscher family. The company is recognized for pioneering the Asscher Cut and earned a chapter in history when in 1908, Joseph Asscher cleaved the 3,106-carat Cullinan Diamond, the largest gem-quality rough diamond ever discovered. Some of the stones cut from that diamond are in the British Crown Jewels.
“There’s some level of familiarity with the Royal Asher name,” Hilson said. “We have a significant opportunity to market with the Royal Asher name in the U.S. and really drive that benefit. Being the exclusive retailer and putting our scale behind the Royal Asscher name is really what we believe will help us grow Blue Nile overall.”
Lita Asscher, copresident of Royal Asscher, said in a statement: “For our family, ‘Cut for Beauty’ is not a new idea, it is a philosophy that has shaped six generations of diamond innovation. In 1902, Joseph Asscher designed the original Asscher Cut, a diamond design that became recognized around the world. More than a century later, our responsibility is not simply to preserve that heritage, but to keep innovating.”
Mike Asscher, copresident and Lita’s brother, added: “Our six patented Royal Asscher cuts build on generations of knowledge about proportion, symmetry, light and beauty. We continue to ask the same question: not simply, ‘What is its grade?’ but ‘Is it beautiful?’ That is what Cut for Beauty means to us.”
