We love to use wedding imagery when discussing corporate mergers, because it’s a useful metaphor: months of preparation and due diligence lead to a joyous union and (we hope) decades of happiness as life partners. In the case of the acquisition of Zale Corp. by Signet Jewelers Ltd., the comparison is just poor writing, since all companies involved are mall jewelry stores, where Americans buy their wedding bling.
You might remember the name Signet because it comes up whenever a reader has a problem with an item purchased at Kay or Jared. We always recommend that people take their complaints up the food chain at the company’s corporate parent. Signet also owns Piercing Pagoda, a chain of large kiosks that sell less expensive jewelry. Combined, the companies will control 14.6% of the retail jewelry business in the United States. Taking over Zales will also give the company a bigger presence in Canada.
The last decade has been rough on Zales, and the chain’s competitor is taking the company over as its comeback succeeds. The companies say that Zales will continue to exist as an independent subsidiary, with its current CEO staying on as president and CEO.
Mall jewelers Zales and Kay get hitched [Dallas Morning News]
Signet and Zale tie the knot, create mall-based jewelry giant [CNN] (via Chain Store Age)
by Laura Northrup via Consumerist
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