Loans for Jewelry Boca Raton
Two of the biggest specialty jewelers in the world are becoming one company. Wednesday morning, Zale Corp and Signet Jewelers Ltd. announced Signet will purchase Zale for $21 per share. The transaction has a total value of $1.4 billion. In order to buy a company that big you need some big loans for jewelry Boca Raton.
According to the press release, Zale will continue to operate under their current CEO Theo Killion and he will report directly to Signet CEO Mike Barnes. Furthermore, Signet intends to keep Zale’s brand as a name under the Signet portfolio. So I assume Zale’s stores in the mall will still be called Zale’s.
Signet and Zale were already ranked number one and four respectively in terms of jewelry stores in the US. Now the company will operate some of the most famous jewelry stores in the world. Those stores include Kay Jewelers, Jared the Galleria of Jewelry, Zales and the Piercing Pagoda in the United States, H. Samuel and Ernest Jones in the United Kingdom and Peoples Jewellers in Canada.
After the companies combine they are expecting over $6 billion in revenue every year. And they will employ around 30,000 people. They will have over 3,600 stores in the US and Canada.
Combining these two enormous jewelry companies is not good for consumers. It means higher prices and less competition. However, it may be advantageous to local jewelry stores. The local jeweler will be able to have more competitive prices.
by, Seth Marcus at Boca Raton Pawn
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