GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
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
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
Events & AwardsMar 02, 2026
JVC to Honor Rebecca Foerster at Annual LuncheonFoerster is this year’s Stanley Schechter Award recipient.
Events & AwardsMar 02, 2026
JFC Names 2026 ‘Facets’ Honorees Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.
CrimeFeb 27, 2026
Man Charged in Murders of Father, Son Jewelers in ChicagoChicago police and members of the U.S. Marshals Service tracked down the 35-year-old suspect earlier this week in St. Louis.
