No doubt on the first part of what you're talking about, the 'Jewelry' part is certainly more subjective. Hiding it further by making the second 'E' and the 'L' fully visible suggests, if he did do it with intent, that he knew that what he was doing was in tremendously poor taste and he felt enough shame or fear in doing so to add those extra two characters as camouflage.
Of course, the 'Jewelry' sign may be a complete coincidence, but after the rest, I see no strong reason to be too charitable in my view on this. I do hope Mr. Ardian learns something from all of this situation, it is true that some people have realized the error of their ways in similar scenarios, but in general, I tend toward the old adage that 'people don't change' and look forward to being pleasantly surprised if I'm ever proven wrong.