Signet Jewelers, the world’s largest retailer of diamond jewelry, has announced that it has completed the acquisition of R2Net, the owner of JamesAllen.com and Segoma Imaging Technologies. In late August, it was reported that Signet had agreed to pay $328 million in an all cash transaction.
According to IDEX Online, “Signet sees significant growth and value creation opportunities from the implementation of R2Net’s technology across its physical and online retail platforms” and expects R2NET to “contribute approximately $80 million to $90 million to revenue […]”.
Following the acquisition, R2Net brands will largely operate as an independent division of Signet and its current leadership team will remain intact. In addition to his role as President of JamesAllen.com, Oded Edelman will become Chief Digital Innovation Advisor of Signet.
