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Signet Jewelers Launches Responsible Sourcing Protocol For Diamonds

02/16/2016

HAMILTON, Bermuda -- February 16, 2016 -- Signet Jewelers Limited (“Signet”) (NYSE and LSE: SIG), the world's largest retailer of diamond jewelry, today launched the Signet Responsible Sourcing Protocol for Diamonds (D-SRSP), a protocol that provides increased transparency and further commitment to the continuous improvement in the integrity of the global  diamond supply chain.

Signet has collaboratively developed and piloted the D-SRSP with input from experts in the diamond industry, civil society and governments. These included the De Beers Group, Rio Tinto, Dominion Diamond Corporation, the World Federation of Diamond Bourses (WFDB), the United States Jewelry Council, the International Diamond Manufacturers Association, Partnership Africa Canada, the Diamond Development Initiative, Jewelers of America, officials from the Organisation for Economic Cooperation and Development (OECD), Governments and Signet diamond suppliers from around the world.

“The D-SRSP builds on existing diamond industry standards, the UN Guiding Principles on Business and Human Rights and the OECD’s Due Diligence Guidance for Responsible Supply Chains to ensure transparency through a collaborative process that is practical and workable,” said Mark Light, Signet CEO. “We have been active in the development of harmonized industry guidance and standards for many years and with the new Responsible Sourcing Protocol for Diamonds, we are asking our suppliers to carefully map their supply chains more rigorously than ever before.”

Conformance with the Protocol, which requires suppliers to undertake due diligence on the sources of the diamonds they deliver to Signet, builds on years of initiatives by industry and governments. Over time, Signet envisions that the collaborative, workable and practical manner in which the Protocol was designed will lead the D-SRSP to become an accepted industry reference for responsibly sourced diamonds. All companies involved in the diamond industry are encouraged to adopt the D-SRSP and use it in their own supply chains.  

“Today’s consumers increasingly expect that companies act as responsible corporate citizens, held accountable for ensuring the integrity of our supply chain,” said Light. “Signet has been at the forefront of responsible sourcing in the jewelry supply chain, and as the D-SRSP becomes more engrained across the industry, the diamond supply chain will continue to become more transparent.”

Contacts:
Investors:          James Grant, VP Investor Relations, Signet Jewelers, +1 (330) 668 5412
Media:                David Bouffard, VP Corporate Affairs, Signet Jewelers, +1 (330) 668 5369
 
About Signet Jewelers

Signet Jewelers is the world's largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H. Samuel, Ernest Jones, Peoples and Piercing Pagoda. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.