Zales

Whatever the occasion, a gift from Zales is a reason to celebrate. Since 1924, Zales, The Diamond Store, has been committed to providing our guests with stylish diamond, gemstone and fashion jewelry along with extensive industry expertise and exceptional customer service. Whether you shop in stores or online, you can count on Zales to stand behind the quality of your purchase and ensure you are completely satisfied with your shopping experience.

History

The company began in 1924 in Wichita Falls, Texas, when the two Russian-Jewish immigrant brothers Morris (M. B.) Zale and William Zale (born Zalefsky), along with Ben Lipshy opened the first Zales Jewelers store (now a division in the multi-division company).

As a marketing strategy, the Zale brothers instituted a credit plan whereby customers could pay “a penny down and a dollar a week,” making jewelry and other merchandise affordable for the average working American. The success of this credit policy led to the company expanding to a total of 12 stores in Oklahoma and Texas by 1941. Zales Jewelers moved its headquarters from Wichita Falls to Dallas in 1946. In 1998, online shopping was opened at www.zales.com.

Corporate restructuring

In 1957, Zales Jewelers opened its first store in a shopping center—a major shift from operating only in downtown locations. The same year, Zales announced the initial public offering of its stock (ZLC) and began trading its public shares on the American Stock Exchange in 1958. In 1989, Zale acquired Gordon’s Jewelers, which had been a major competitor. Zales bought the Skillern Drug pharmacy chain in the 1960s, but sold it in 1980.

Until 1986, Zales operated a catalog showroom called O. G. Wilson.

People’s Jewelers bought Zales in 1986, .

Zale expanded (in 1999 and 2000) with two major acquisitions: Peoples Jewellers of Canada and Piercing Pagoda.

In 2007, the Company divested its Bailey Banks & Biddle brand to Finlay Enterprises.

Signet Jewelers agreed to buy Zale Corporation (in February 2014), with Zale shareholders receiving USD$21 a share in cash in USD$1.3 billion deal. The merger created a $6.2 billion firm.