Post on 11-Jan-2016
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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• Exciting things to share.• How the present is driving the future.• Stakeholders benefit from …
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• Multitude of competitive advantages.• Outstanding Customer Experience,
driven by …– In-store teams.– Training.– Service.– Technology.
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• 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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• Vision 2020: Long-term growth strategy.
• With our future, our team & the investment community in mind.
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• 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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Overarching Vision 2020 objectives:1.Maximize mid-to-upper-midmarket.2.Be “best in bridal.”3.Be best in class in digital ecosystem.
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• 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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Mid Market Jewelry:–Above costume jewelry in US,
above discounters in UK … but not “uber” luxury.– Lot of crossover.
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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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V-2020 will strengthen position as most relevant & prevalent company.
• Bold evolution building on competitive strengths in both markets.
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• 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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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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• 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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• 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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• Market has total sales of over $24 billion.
• Major retailers are thriving there.
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• 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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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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Goal is to be the destination for bridal: • In consumer & industry perception & in
industry results.
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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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• 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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–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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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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Result: More consistent quality, even better value for customers.
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We plan to acquire diamond factory in Gaborone, Botswana.
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• 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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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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• 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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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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• 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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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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Working to make every selling environment integrated & supportive:– Brick & mortar stores– Design & Service Centers– Internet channels– Social media platforms
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Many e-commerce sales are completed in-store.
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• 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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Websites:• Evolving Kay.com & Jared.com.• Redesigning UK systems.• Engaged teams in the UK & U.S.
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New KayOutlet.com website & Mobile apps.– Launching this month.– KayOutlet.com has become
e-commerce enabled.
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Launched micro sites in UK for key brands & categories
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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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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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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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UK mobile site launched in summer
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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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Tablets in stores:• Enables team’s mobility & fingertip
access to every item. • Helps deliver user-friendly & cutting
edge customer experience.
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Rolling out tablets to all UK stores later this year
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E-mail:• Customers very particular how they
connect & who they connect with.• Launched Customer E-mail Preference
Center w/ExacTarget.– Allows customers to tell us what notices they
want; e.g.: LeVian content only.– E-mail address captures: sweepstakes
promotions, on Facebook, at the register.
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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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• Ultimate engagement leads to Ultimate Customer Experience.
• We linked ratings / reviews between our websites & social media platforms.
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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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Kay YouTube Channel: • Features brand videos.• Educational videos.• Fashion tips & trends videos.
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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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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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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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[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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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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• Next three speakers will go deeper, followed by Q&A.
• Intro Mark Light.