Rocksbox closes jewelry rental business, changes name to second-hand site

Rocksbox changes its business model.

The jewelry platform, owned by Signet Jewelers Ltd., is shutting down its rental service this month and transforming into a full e-commerce platform selling pre-owned, semi-precious and fine jewelry.

According to Rocksbox CEO Allison Vigil, the change is intended to allow the company to reach a larger customer base and reflects changing consumer behavior.

“(Rocksbox) started in 2012 as a subscription model, and at the time it was a really innovative way to drive discovery and bring new trends, new styles, new designers to our customers,” Vigil said. “We loved the experience of bringing that to life for our customers. It was just incredibly fun to hear their stories of discovering new styles, expressing themselves in new ways, and getting unique pieces. We want to continue to be at the forefront of bringing those kinds of excitement and experiences to our customers, and we feel like times are changing a bit. Instead of being a new way to discover, the subscription (model) feels like a bit of a barrier to access.

The Rocksbox subscription model was structured as a $21 monthly service where subscribers received three pieces of jewelry. Users could swap out their three pieces as many times as they wanted and buy them.

Vigil explained that the new business model will allow Rocksbox to expand its jewelry assortment. The executive declined to name brands, but said Rocksbox will add new jewelry brands by the end of the summer.

“We really see an opportunity to bring our unique perspective on curation to the market, and we see our curation as an opportunity to really collaborate with people who share those values,” she said. “(We’re looking at) designers who also share a passion for sustainability and circularity in many forms, so our selection will reflect that.”

Rocksbox offers fashion jewelry brands like Kate Spade, Kendra Scott and Lele Sadoughi, as well as its own demi-fine offering and pre-owned jewelry from other Signet brands like Kay Jewelers, Zales and Jared.

The company recently expanded its jewelry offering in 2021 to include semi-precious pieces, which are created from 925 sterling silver and plated with 18-carat gold. This move was Rocksbox’s first initiative after its acquisition by Signet.

Vigil said that in terms of price, Rocksbox’s range of fashion jewelry ranges from $35 to $250, with semi-fine and fine jewelry models ranging from $800.

Overall, Vigil said the goal of the Rocksbox rebrand is to offer more customers the opportunity to experiment with self-expression through jewelry.

“We’ve found that no matter (what), customers seem to have a desire to find something unique and find it at a great price,” she said. “Second-hand jewelry offers a great way to do this. There are customers who also love its cyclical nature and keeping something in circulation rather than producing a new item, but ultimately we find that it comes down to finding that uniqueness at a great price, really.”