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Owner of Kay Jewelers and Zales refuses to buy Russian gems

The move by Signet Jewelers, the largest diamond retailer in the industry's most important market, will create difficulties through the entire global supply chain.

Signage for Zales Jewelers, a subsidiary of Signet Jewelers Ltd., is displayed on the exterior of a store in New York in August 2017. Signet Jewelers, the owner of Kay Jewelers and Zales, told suppliers it would no longer buy stones mined in Russia, the world’s biggest source of gems. CREDIT: Bloomberg photo by Mark Kauzlarich
Signage for Zales Jewelers, a subsidiary of Signet Jewelers Ltd., is displayed on the exterior of a store in New York in August 2017. Signet Jewelers, the owner of Kay Jewelers and Zales, told suppliers it would no longer buy stones mined in Russia, the world’s biggest source of gems. CREDIT: Bloomberg photo by Mark KauzlarichRead moreMark Kauzlarich
    by Thomas Biesheuvel and Jeannette Neumann, Bloomberg
    Published