Signet to Source Rough, Manufacture Diamonds

December 20, 2005

Signet to Source Rough, Manufacture Diamonds

Signet Group said Dec. 20 that it will broaden its sourcing of rough diamonds and increase its manufacturing capabilities to secure additional, reliable and consistent supplies of diamonds for its customers, the U.K.-based retailer said in a press statement. Signet is the parent company of Sterling Jewelers and Jared the Galleria of Jewelry.

The group appointed I. Hennig, the international diamond consultancy and brokering firm, to act as its strategic consultant on rough diamond-related issues. I. Hennig services many large industry companies and procures rough diamonds from De Beers' Diamond Trading Co., as well as from other sources.

"The development of direct rough diamond sourcing and manufacturing capacity is designed to enhance Signet's industry-leading supply chain expertise and our ability to provide the consumer with superior value," said Terry Burman, Signet's group chief executive .

by Peggy Jo Donahue

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