MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
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
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsSep 22, 2026
NYCJAOS Returns for Autumn EditionThe four-day show is slated for Nov. 19-22 at the Metropolitan Pavilion in New York City’s Chelsea neighborhood.
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
AuctionsSep 18, 2026
Noonans To Auction Medieval Gold Seal Ring Recovered By 2 FriendsTwo metal detectorists discovered the ring, which may have belonged to English noblewoman Matilda of Lancaster, in Suffolk.
Policies & IssuesSep 17, 2026
Tariffs on India Could Increase as Russian Sanctions Bill Heads to Trump’s DeskThe bill has a provision that allows the president to raise tariffs on countries that import Russian oil and gas to as much as 100 percent.
Events & AwardsSep 17, 2026
This Is the Winner of the 2026 Robert M. Shipley AwardThe American Gem Society presented the annual award to a former president of its board.
CollectionsSep 17, 2026
Cynthia Erivo, Zoë Chicco’s Jewelry Collab Is an Ode to TransformationThe “Chrysalis” capsule centers butterfly motifs representing growth, transformation, and the unfolding of who you are.
Events & AwardsSep 17, 2026
Louisiana Retailer Kevin Patton Wins Lifetime Achievement AwardJewelers of Louisiana presented Patton, the third-generation president of Pattons Fine Jewelry, with the award at its annual convention.
PodcastsSep 16, 2026
Episode 9: Remembering Cindy EdelsteinTwo special guests join the podcast to commemorate the 10th anniversary of the designer advocate, mentor, and author’s untimely passing.
CollectionsSep 16, 2026
Jessica McCormack, L’Objet Collab on Homewares CollectionMcCormack brings sea-inspired motifs from her “Beaches” collection to L’Objet’s tableware, vanity pieces, and first-ever cutlery set.
CrimeSep 16, 2026
JSA Issues Warning to NJ Jewelers After Rash of Smash and GrabsNine New Jersey jewelers have been victims of smash-and-grab robberies this year, prompting JSA to circulate a list of recommendations.
IndependentsSep 16, 2026
Bromberg & Co. Names New PresidentMarlin “Brian” Hood, who has been with the store for 20 years, will succeed Ricky Bromberg, who died earlier this month.
MajorsSep 16, 2026
Midas Chain Releases ‘House of Midas’ Bridal CatalogThe new bridal catalog features the latest jewelry collections and designs from timeless classics to modern silhouettes.
EditorsSep 15, 2026
2026 Emmys Jewelry: An Either/Or Proposition Stars wore either a necklace or earrings at 78th Primetime Emmy Awards but rarely both, Natalie Francisco notes.
ColumnistsSep 15, 2026
The Levels Your Website Must Clear Before AI Recommends YouJennifer Shaheen compares this new era of AI-powered SEO to a video game: your website must clear one level before advancing to the next.
IndependentsSep 15, 2026
Armadani Launches Retail Support Program for Holiday SeasonThe program highlights “Made in Italy” fine jewelry with digital merchandising, sales education, and local marketing support.
