Signet Jewellers are securing supplies of diamonds by developing rough diamond sourcing and manufacturing capabilities. Signet has hired Hennig, an international diamond consultancy and broking firm, to act as its strategic consultant of rough diamond related issues.

"Our sales are increasing faster than our competitors. This is a next logical development in buying rough and manufacturing and securing additional supplies to support our customers," said Tim Jackson, a spokesperson at Signet. The company, which targets the middle segment of the diamond jewellery market, has appointed Hennig, the DTC broker, as a consultant for its upstream strategy.

The next stage in enhancing Signets supply chain will be to develop the companys existing capacity for sourcing and polishing rough diamonds by developing and expanding relationships with current suppliers of polished diamonds and jewelry. The Signet Group operates in the United States and in the United Kingdom with 1,781 specialty retail jewelry stores.

"The development of direct rough diamond sourcing and manufacturing capacity is designed to enhance Signets industry-leading supply chain expertise and our ability to provide the consumer with superior value," said Terry Burman, group chief executive. "This initiative builds on our well established operational and financial strengths," he added.