SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
SurveysFeb 09, 2017
1,564 Jewelry Businesses Ceased Operations in 2016
The figure from the Jewelers Board of Trade includes the U.S. and Canada and represents a 64 percent increase over the prior year.
Warwick, R.I.--Year-end statistics from the Jewelers Board of Trade are what we thought they would be.
After rising sharply throughout the year, the number of retail jewelers, wholesalers and manufacturers in the United States and Canada that closed down in 2016 totaled 1,564, compared with 956 in 2015.
That is a 64 percent year-over-year increase.
Breaking it down by category, there were 1,190 retail jewelers in the U.S. and Canada that ceased operations, up 53 percent from 2015; 235 wholesalers, up 81 percent; and 139 manufacturers, up 190 percent.
Including consolidations (sales/mergers) and bankruptcies, the total number of business discontinuances reached 1,718 in 2016, a 54 percent increase over 2015.
In an interview with National Jeweler on Tuesday, JBT President Anthony Capuano said the fact that business discontinuances increased did not surprise him, though end number of closures was slightly higher than expected.
RELATED CONTENT: Demographic Drop-offHe said that the main factor driving the increased rate of closures is that many business owners are at or near the age of retirement, and they are finding themselves at the helm of companies that are no longer as robust as they once were with, in many cases, no next generation waiting to enter the family business.
RELATED CONTENT: What It Feels Like to Close My StoreDuring the interview, Capuano also addressed an online conversation that cropped up following publication of the JBT’s third quarter statistics about jewelers shuttering their stores but remaining in the business either as private, appointment-only jewelers or custom designers.
The commenter felt that the JBT’s numbers for jewelry store closures were inflated because they did not take into account these individuals, but Capuano said they are not.
“That might be some of them, but it’s certainly not 1,190 of them.
“I don’t believe that 1,190 (jewelers) are going to home businesses, or seasonal businesses or part-time businesses. I think the majority of them are just discontinuances,” he said.
He added that even if some jewelers are remaining active in the industry, a store closure “still represents a contraction in the business; they don’t have a reason to open full time in a distinct location.”
New Business Openings
While more companies continue to exit the industry, new business listings have remained relatively flat over the past three years, with the JBT adding about 260 to 290 new jewelry business listings in the
U.S. and Canada each year.
In 2014, there were 261 new jewelry business recorded by the JBT. The following year, that number rose to 289 but fell again in 2016, to 275. The Northeast and the Southeast accounted for the majority of new listings last year.
“There are people willing to take a chance in this business,” Capuano said.
He also noted that retailers accounted for the vast majority of new businesses in the industry last year. There were 218 new jewelers, compared with 43 wholesalers and 18 new manufacturers.
At the end of 2016, JBT’s total listings stood at 27,950: 21,007 retailers, 4,119 manufacturers and 2,824 manufacturers in North America. That is down 6 percent from 2015.
Here are some other trends for 2016, as outlined by the JBT:
--Bankruptcies continued to decline, totaling 34 in 2016 compared to 40 in 2015. (On a comparative note, that number was three times as high around the peak of the financial crisis.)
Capuano said the jewelry industry is not alone in seeing bankruptcies slide, as it is a trend being seen in many industries nationwide. Company bankruptcies as a whole in the U.S. were down 2 percent year-over-year in the first three quarters of 2016, with what filings there were concentrated in the oil, gas and energy exploration industries.
--Business consolidations (mergers and acquisitions) were relatively flat year-over-year, 118 in 2016 vs. 114 in 2015. Capuano said there are fewer interested parties that want to buy a brand, company or a store in a nearby market today.
--Credit rating metrics remained stable, with an upgrade to downgrade ratio of 0.97x at year-end compared with 0.95x at the end of 2015.
--Collection claim activity was down, and so was the size of the average claim, which fell 8 percent to $7,299.
In 2017, Capuano said he expects consolidation to continue. While the rate at which businesses are closing might abate slightly, he does not expect the trend to reverse itself this year.
In 2014, there were 261 new jewelry business recorded by the JBT. The following year, that number rose to 289 but fell again in 2016, to 275. The Northeast and the Southeast accounted for the majority of new listings last year.
“There are people willing to take a chance in this business,” Capuano said.
He also noted that retailers accounted for the vast majority of new businesses in the industry last year. There were 218 new jewelers, compared with 43 wholesalers and 18 new manufacturers.
At the end of 2016, JBT’s total listings stood at 27,950: 21,007 retailers, 4,119 manufacturers and 2,824 manufacturers in North America. That is down 6 percent from 2015.
Here are some other trends for 2016, as outlined by the JBT:
--Bankruptcies continued to decline, totaling 34 in 2016 compared to 40 in 2015. (On a comparative note, that number was three times as high around the peak of the financial crisis.)
Capuano said the jewelry industry is not alone in seeing bankruptcies slide, as it is a trend being seen in many industries nationwide. Company bankruptcies as a whole in the U.S. were down 2 percent year-over-year in the first three quarters of 2016, with what filings there were concentrated in the oil, gas and energy exploration industries.
--Business consolidations (mergers and acquisitions) were relatively flat year-over-year, 118 in 2016 vs. 114 in 2015. Capuano said there are fewer interested parties that want to buy a brand, company or a store in a nearby market today.
--Credit rating metrics remained stable, with an upgrade to downgrade ratio of 0.97x at year-end compared with 0.95x at the end of 2015.
--Collection claim activity was down, and so was the size of the average claim, which fell 8 percent to $7,299.
In 2017, Capuano said he expects consolidation to continue. While the rate at which businesses are closing might abate slightly, he does not expect the trend to reverse itself this year.
More on Surveys
The Latest
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
Weekly QuizJul 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
Events & AwardsJul 09, 2026
AGS, GIA Name 2026 Beatrice Shipley Scholarship WinnerAGS also announced the recipient of its “Women in Leadership” scholarship.
MajorsJul 08, 2026
Kendra Scott Joins ‘Shark Tank’ As Permanent Investor The founder of the billion-dollar jewelry and lifestyle brand will debut as a full-time “Shark” on the upcoming season of the show.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
MajorsJul 08, 2026
Richline Group Promotes 2 ExecsArien Gessner and Moss Makhoulian have been elevated into newly created roles.
