Post # 1
Just a heads up. Signet Jewelers, the parent company of both Kay and Jared is having legal problems. It’s serious enough that trading of their stock was halted today after an 8% drop.
Signet is being sued for paying women less than men and sexual harassment.
I have no idea how the pending litigation will affect Kay or Jared. I personally would not get into any business transactions with any company whose parent company is in such a precarious position. They only halt trading when a stock is dropping too fast.
I won’t comment on the case against Signet as I have no clue as to whether the plaintiffs will be able to prove their allegations.
Post # 2
That’s not their only issue. The forward outlook on the major jewelry companies, including Signet in the mix, is stagnant. Market trend has shifted to a new group, the millenials, who have not shown strong preference for “fine jewelry” products. The growth of fine jewelry industry has not had a major boost in decades–they enjoy median growth. They have not made significant increase in market share, in fact the trend of on-coming 24-35 YO workforce has not been kind to this industry; many forego fine jewelry for the latest technology.
So, decreasing market share, increasing rent (those 30 year mall leases are up), AND a major scandal? Yeah I would sell those too–faster than hotcakes.
Post # 4
They were a horrible company to work for. I am not the least bit surprised by any of this. Really unscrupulous company. They are also in scandal for swapping diamonds out of customer’s settings for other lesser quality stones. They are terrible, absolutely terrible to their employees as well.
Post # 5
Post # 6
I also heard this recently from a friend, so I agree with OP. Probably not a good idea to have any transactions with them…
Post # 7
Yup all over the news. Shady as hell.
Post # 8
I told Fiance when we started ring shopping that we’d be buying from a local jeweler because I didn’t want to deal with Kay and Jared.
Post # 9
sassy411 : So true! I unexpectedly ended up designing my own engagement ring, but even before we decided to go that route I told my Boyfriend or Best Friend never to shop with Kay’s. Years ago, they were extremely rude and unprofessional to my parents when they were engagement ring shopping (as in they wouldn’t let my mom try on any rings without holding her ID and purse). So, I’ll never showed there either! Buyer beware!! xoxo
Post # 10
We have always bought our jewelery at Jared and they’ve been great. I don’t like Kay’s. My husband’s ex-wife worked for Jared and enjoyed many years with them.
Post # 11
Seriously – they STOLE my freaking diamond! Stole it! When I brought it in for cleaning! I mean, I don’t think the people in the store knew about it when they handed it back to me, smiling, but some slimy BASTARD took my ring, removed the diamond, and replaced it with some type of fake. We spent YEARS trying to get reimbursed for the stone that my ex husband PURCHASED FROM THEM. So they not only made money off of my ring, they probably resold the diamond, which was non-gia graded (this was like seven years ago and my ex didn’t know any better) and therefore untraceable.
SCREW. THEM. Makes me so heated just thinking about it. 😡
Post # 12
ohana : Wow. It’s really awful to hear your story! The company is overcome with greed. I’m sorry you had to go through that. Shame on them.
Post # 13
- Wedding: December 2017 - Lake Louise Canada
Just the icing on the long cake of shame for that place.
Post # 14
Omg 😦 this is so horrible! I never knew about any of this… I just showed my SO (he wanted to take me to both places to browse), but he told me f*ck that after I showed him this thread.
Post # 15
Here’s the best part. When they gave me it back I made them test it in the store. It came back as fake and they TOLD ME THAT IT WAS FAKE WHEN I DROPPED IT OFF. They literally told me that a ring THEY sold me was a fake diamond and it wasn’t their problem.
DESPITE THE FACT THAT THEY SOLD IT AS A REAL DIAMOND!
I wasn’t there when it was purchased, as that proposal was a surprise. But I had a reciept that said “Diamond 3 stone ring in 14k white gold” I told them that I actually had the reciept at home and I’d be happy to bring it back to them, and they said “Well you can’t prove you didn’t bring it to someone else before us and they stole the diamond.”
UMMM. He purchased the ‘protection plan’ (most ironic name ever!) through you bastards so that we wouldn’t have to go anywhere else! Why would we bring it somewhere else when we’ve basically prepaid you for your service!?!?
Ladies, my takeaway from this is that no matter where you go – whenever you drop your ring off for service, make them TEST that sucker in front of you, make them write down that they tested it, and make sure they know that you know your ring is either engraved with a GIA number, or you know your ring’s identifying characteristics. Then make them show it to you under a loupe and test it again upon pick up.
I am now NEUROTIC because of those bastards.