Dive Brief:

• Kay Jewelers, the jewelry retailer owned by Signet Jewelers, is revamping its brand to engage a younger generation of shoppers, according to a press release. 
• The overhaul includes a new ad campaign and store redesigns that leverage technology for a more personalized experience. The company in October will also release a new Studio By Kay collection focused on more everyday jewelry.   
• Kay’s refresh comes as parent Signet ramps up personalization efforts, including by tapping into artificial intelligence, and tries to grow e-commerce sales. The jewelry category has seen upstarts find stronger favor with picky Gen Z and millennials.

Dive Insight:

Kay, which boasts of being the world’s largest diamond jewelry retailer, is evolving several aspects of its brand to better recognize the tastes and shopping preferences of the next generation of consumers. Modernized stores, fresh advertising creative and a new line of everyday jewelry aim to increase appeal with Gen Z and millennial buyers. Studio By Kay, which hits shelves Oct. 28, spans over 30 styles, such as hoop earrings and stackable rings, with prices ranging from $199.99 to $2,199.99. 

The over 100-year-old Kay brand operates in a retail vertical that has seen emerging rivals, including Mejuri and Catbird, win over younger consumers through on-trend casual jewelry and celebrity collaborations. Kay parent Signet, which also owns Zales and Diamonds Direct, is also building out its e-commerce capabilities to capitalize on changing purchasing habits.

To promote its refreshed approach, Kay debuted a new campaign earlier this month that depicts love as people experience it in the day-to-day (the long-standing “Every Kiss Begins with Kay” tagline is sticking around). Ads show a diverse array of couples as they get engaged and tie the knot. The creative will run across TV, online video, social, display and search. The marketer is also leveraging sports partnerships, including its existing work with the NFL, for the effort that hits airwaves ahead of the holiday shopping season.

On the retail front, Kay will evolve its footprint of over 200 stores throughout 2024 and into 2025, integrating more technology and adding customization and collaboration areas that cater to wedding parties, friend groups and other types of gatherings. The brick-and-mortar investment tops $60 million, Women’s Wear Daily reported. 

Signet recently enacted a similar brand refresh for Zales, which has passed 100 years in operations. The jewelry giant has been in a slump, with sales sliding 7.6% year over year to $1.5 billion in the second quarter of its fiscal year. Same-store sales, an important metric of retailer health, declined 3.4% for the period.