Kay Jewelers was founded in 1910 by Henry Shaw in Akron, Ohio. The company is a subsidiary of Sterling Jewelers, which is owned by Signet Jewelers. The company offers fine jewelry, with their specialty being diamond wedding and engagement rings.
Kay Jewelers, along with the other Sterling Jeweler names such as Marks & Morgan, and Belden, is the second biggest jewelry seller in the US. The company offers a wide range of insurance and cleaning plans on almost all jewelry that is sold.
Sterling Jewelers, along Kay Jewelers, were accused in an online story, published May of 2016, which stated that customers discovered that their diamonds and other gemstones were removed and replaced with cheaper quality stones when their items were left for cleaning or repair. The company denies these allegations.
In response, the company has stepped up its store promotions and is offering bigger discounts to attract new customers in hopes of bolstering the parent company’s sagging stock.
One of Signet’s subsidiaries, Sterling, was accused in 2017 of gender discrimination. The CEO retired for “health reasons.” There are at least 2 class action lawsuits claiming gender discrimination that are pending.
In May 2019, the Consumer Protection Bureau announced an $11 million settlement with Signet/Kay Jewelers after receiving complaints that customers were signed up for credit cards that they did not authorize.
A law enforcement officer was denied entry into a Kay Jewelers location because of his service weapon. After the story went viral on social media, the company quickly issued an apology and stated that its “no weapon” policy should not have been applied to a uniformed police officer.
Company headquarters for Kay/Signet Jewelers is located in Akron, Ohio.