Piercing Pagoda® Expresses Its Uniqueness, Testing a New Master Brand: Banter™ by Piercing Pagoda®

DALLAS, Aug. 2, 2021 /PRNewswire/ -- Piercing Pagoda®, the rapidly growing, affordable fine jewelry and piercing retailer, today announced it's ushering in a bold new chapter in its 50-year evolution with the testing and introduction of a new master brand name, "Banter™ by Piercing Pagoda®." This new name reflects the personal relationship the retailer has with both its new and long-held customers, its innovative customer experiences and omnichannel growth strategy. "Banter™ by Piercing Pagoda®" has plans to roll out the name to its more than 500 U.S. locations, digital and social media channels.  Already, one-fifth of existing locations are testing the new Banter by Piercing Pagoda name in cities including New York, Chicago, Los Angeles, and Seattle.

"Our new Banter by Piercing Pagoda name is full of energy, invoking the excitement of playful conversation, like the adrenaline of a new piercing or piece of jewelry. Our customers are fiercely individual, creative people who inspire us to reject labels and celebrate our unique identities each day." said Kecia Caffie, President, Banter by Piercing Pagoda. "Guided by our Inspiring Brilliance strategy, our passionate team draws inspiration directly from our customers to continually evolve our product offerings and our connected commerce experiences so that we're there for them whenever, wherever and however they choose to shop with us."

Known by its distinctive gold-script capital letter "B," Banter by Piercing Pagoda aims to empower more customers to express themselves with chains, charms, necklaces, and earrings that are gender neutral – and safely offers piercing services for their face, nose, and ears. Banter by Piercing Pagoda combines stylish designs and approachable service at affordable price points with tech-enabled stores and warm, modern service.

Banter by Piercing Pagoda is part of Signet Jewelers, the world's largest retailer of diamond jewelry. Within the Signet portfolio, which features nine jewelry retail brands with distinct value propositions, Banter by Piercing Pagoda caters to the tech-savvy Gen Z and millennial customer, who is passionate about jewelry and fashion – and lets their style tell their story. Banter by Piercing Pagoda takes inspiration directly from its customers to evolve product offerings, underscoring the company's consumer-inspired strategy based on data-driven insights. In recent years, Piercing Pagoda has significantly grown its market share.

Over the last three years, under Signet's Path to Brilliance growth strategy, Banter by Piercing Pagoda accelerated its transformation and continues to drive forward momentum. The brand had its strongest quarter ever in Q1 FY22 and in FY21 completed its sixth consecutive year of positive same-store sales growth amid stable merchandise margins. This year alone, Banter by Piercing Pagoda has more than 135 stores on track to deliver one million dollars in sales, with plans to open up to 100 additional locations in FY22 in regional malls, where data-driven analyses show opportunity. Among these new locations will be new inline store formats that provide customers with an even more enhanced shopping experience. The store layout will include a lounge designated for piercing, offering a more comfortable, private piercing experience and smart mirrors to virtually try on product in select locations.

New and Enhanced Products and Services
Banter by Piercing Pagoda will also continue to roll out its newest service – nose and facial piercings – across the US, addressing rising consumer demand during the pandemic. Banter by Piercing Pagoda prides itself on offering safe piercing services and has strictly followed COVID-related health and safety protocols issued by the CDC and other health organizations. The brand also offers virtual piercing follow-up appointments and virtual styling sessions.

Banter by Piercing Pagoda is also redoubling efforts to provide customers an inspiring mobile experience as part of a connected commerce strategy.  In FY21, Piercing Pagoda delivered approximately 140% year-over-year eCommerce growth, with mobile phones playing a critical role. In addition, enhanced virtual capabilities— including sales and search—set the bar for the level of service customers can expect beyond the physical stores. The brand's updated website design is intentionally optimized to augment the mobile user's experience, while still ensuring an enjoyable desktop experience.

Complementing its new name, Banter by Piercing Pagoda is also launching a new marketing campaign that will spotlight bold, diverse models who epitomize self-expression and pride – a hallmark of the brand. That marketing campaign is scheduled to debut in additional select locations today.

ABOUT BANTER™ BY PIERCING PAGODA®
Banter by Piercing Pagoda remains the leader in ear and other piercings. As the nation's largest specialty kiosk retailer, Banter by Piercing Pagoda's history is one of serving and satisfying customers with an extensive selection of popularly priced 10K and 14K gold chains, charms, bracelets, rings, and earrings, as well as a variety of silver and diamond jewelry. Visit www.banter.com to view Banter by Piercing Pagoda's latest styles or to find a location near you. Follow us on Facebook , Twitter , Instagram, Pinterest , and YouTube.

ABOUT SIGNET JEWELERS
Signet Jewelers Limited is the world's largest retailer of diamond jewelry.  As a purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Signet is a Great Place to Work –Certified™ company and has been named to the Bloomberg Gender-Equality Index for three consecutive years. Signet operates approximately 2,800 stores primarily under the name brands of Kay Jewelers, Zales, Jared, H. Samuel, Ernest Jones, Peoples, Piercing Pagoda, and JamesAllen.com and the jewelry subscription service, Rocksbox.  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, www.pagoda.com, www.rocksbox.com 
and www.jamesallen.com.

Safe Harbor Statement
This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, based upon management's beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, Signet's results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words "expects," "intends," "anticipates," "estimates," "predicts," "believes," "should," "potential," "may," "preliminary," "forecast," "objective," "plan," or "target," and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties which could cause the actual results to not be realized, including, but not limited to: the negative impacts that the COVID-19 pandemic has had, and continues to have, on Signet's business, financial condition, profitability and cash flows; the effect of steps we take in response to the pandemic; the severity, duration and potential resurgence of the pandemic, including whether it is necessary to temporarily reclose our stores, distribution centers and corporate facilities or for our suppliers and vendors to temporarily reclose their facilities; the pace of recovery when the pandemic subsides and the heightened impact it has on many of the risks described herein, including without limitation risks relating to disruptions in our supply chain (specifically in India), consumer behaviors such as willingness to congregate in shopping centers and shifts in spending away from the jewelry category and the impact on demand of our products, our level of indebtedness and covenant compliance, availability of adequate capital, our ability to execute our business plans, our lease obligations and relationships with our landlords, and asset impairments; general economic or market conditions; financial market risks; our ability to optimize Signet's transformation strategies; a decline in consumer spending or deterioration in consumer financial position; changes to regulations relating to customer credit; disruption in the availability of credit for customers and customer inability to meet credit payment obligations; our ability to achieve the benefits related to the outsourcing of the credit portfolio, including due to technology disruptions, future financial results and operating results and/or disruptions arising from changes to or termination of the relevant non-prime outsourcing agreement requiring transition to alternative arrangements through other providers or alternative payment options and our ability to successfully establish future arrangements for the forward-flow receivables; deterioration in the performance of individual businesses or of the Company's market value relative to its book value, resulting in impairments of long-lived assets or intangible assets or other adverse financial consequences; the volatility of our stock price; the impact of financial covenants, credit ratings or interest volatility on our ability to borrow; our ability to maintain adequate levels of liquidity for our cash needs, including debt obligations, payment of dividends, and capital expenditures as well as the ability of our customers, suppliers and lenders to access sources of liquidity to provide for their own cash needs; changes in our credit rating; potential regulatory changes, global economic conditions or other developments related to the United Kingdom's exit from the European Union; exchange rate fluctuations; the cost, availability of and demand for diamonds, gold and other precious metals; stakeholder reactions to disclosure regarding the source and use of certain minerals; seasonality of Signet's business; the merchandising, pricing and inventory policies followed by Signet and failure to manage inventory levels; Signet's relationships with suppliers including the ability to continue to utilize extended payment terms and the ability to obtain merchandise that customers wish to purchase; the failure to adequately address the impact of existing tariffs and/or the imposition of additional duties, tariffs, taxes and other charges or other barriers to trade or impacts from trade relations; the level of competition and promotional activity in the jewelry sector; our ability to optimize Signet's multi-year strategy to gain market share, expand and improve existing services, innovate and achieve sustainable, long-term growth; the maintenance and continued innovation of Signet's OmniChannel retailing and ability to increase digital sales; changes in consumer attitudes regarding jewelry and failure to anticipate and keep pace with changing fashion trends; changes in the supply and consumer acceptance of and demand for gem quality lab created diamonds and adequate identification of the use of substitute products in our jewelry; ability to execute successful marketing programs and manage social media; the ability to optimize Signet's real estate footprint; the ability to satisfy the accounting requirements for "hedge accounting," or the default or insolvency of a counterparty to a hedging contract; the performance of and ability to recruit, train, motivate and retain qualified sales associates; management of social, ethical and environmental risks; the reputation of Signet and its banners; inadequacy in and disruptions to internal controls and systems, including related to the migration to new information technology systems which impact financial reporting; security breaches and other disruptions to Signet's information technology infrastructure and databases; an adverse development in legal or regulatory proceedings or tax matters, including any new claims or litigation brought by employees, suppliers, consumers or shareholders, regulatory initiatives or investigations, and ongoing compliance with regulations and any consent orders or other legal or regulatory decisions; failure to comply with labor regulations; collective bargaining activity; changes in corporate taxation rates, laws, rules or practices in the US and jurisdictions in which Signet's subsidiaries are incorporated, including developments related to the tax treatment of companies engaged in Internet commerce or deductions associated with payments to foreign related parties that are subject to a low effective tax rate; risks related to international laws and Signet being a Bermuda corporation; difficulty or delay in executing or integrating an acquisition, business combination, major business or strategic initiative; risks relating to the outcome of pending litigation; our ability to protect our intellectual property or physical assets; changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions; or the impact of weather-related incidents, natural disasters, strikes, protests, riots or terrorism, acts of war or another public health crisis or disease outbreak, epidemic or pandemic on Signet's business.

For a discussion of these and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward looking statement, see the "Risk Factors" and "Forward-Looking Statements" sections of Signet's Fiscal 2021 Annual Report on Form 10-K filed with the SEC on March 19, 2021 and quarterly reports on Form 10-Q and the "Safe Harbor Statements" in current reports on Form 8-K filed with the SEC. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Media Contact: 
Nike Communications Contact: Sam Steiner
Email: [email protected]
Phone: (646) 654-3469

Signet Jewelers Contact: Taylor Green
Email: [email protected]
Phone: (330) 800-6691

SOURCE Banter by Piercing Pagoda

Related Links

https://www.pagoda.com