IndependentsMar 08, 2023
Indiana Independent Jeweler Closes After Nearly 70 YearsIndependentsMar 28, 2023
D.C. Jeweler That Honored 50-Year-Old Gift Certificate Closes
Bensons Jewelers closed for good Feb. 24, impacted in part by the decline in foot traffic downtown since the onset of the pandemic.
The exterior of Bensons Jewelers in downtown Washington, D.C. The store closed last month after more than eight decades in business, with the owner citing a decline in foot traffic due to more people working from home.
Washington, D.C.—Bensons Jewelers, the 84-year-old Washington D.C. retailer that made headlines for an altruistic act a few years ago, has closed its doors for good.
Owner Ken Stein told National Jeweler Monday that a confluence of factors fed into his decision to close the store where he’s worked for 40-plus years.
Bensons Jewelers is on F Street N.W. in downtown Washington, D.C., a few blocks east of the White House.
The retailer’s business depended heavily on downtown foot traffic from employees of the federal government and other companies with government-related business.
Since COVID-19, however, Stein said a lot of workers haven’t returned to the office full time or at all, while visitors aren’t coming downtown as often either, due to part to the view that the city’s train system, Metro, has become more dangerous.
He said his store has lost money every year since the onset of the pandemic in 2020.
Another contributing factor is, Bensons Jewelers was not drawing in younger consumers, particularly younger female consumers (ages 20-45), to replace the older customers who are phasing out of jewelry buying.
Stein attributes the shift to younger consumers’ desire to spend money on experiences instead of jewelry.
“I truly believe, certainly for me and for people I’ve spoken to, the trends have changed for young women. They don’t buy jewelry like the older clients did,” he said.
Related stories will be right here …
Owner Ken Stein told National Jeweler Monday that a confluence of factors fed into his decision to close the store where he’s worked for 40-plus years.
Bensons Jewelers is on F Street N.W. in downtown Washington, D.C., a few blocks east of the White House.
The retailer’s business depended heavily on downtown foot traffic from employees of the federal government and other companies with government-related business.
Since COVID-19, however, Stein said a lot of workers haven’t returned to the office full time or at all, while visitors aren’t coming downtown as often either, due to part to the view that the city’s train system, Metro, has become more dangerous.
He said his store has lost money every year since the onset of the pandemic in 2020.
Another contributing factor is, Bensons Jewelers was not drawing in younger consumers, particularly younger female consumers (ages 20-45), to replace the older customers who are phasing out of jewelry buying.
Stein attributes the shift to younger consumers’ desire to spend money on experiences instead of jewelry.
“I truly believe, certainly for me and for people I’ve spoken to, the trends have changed for young women. They don’t buy jewelry like the older clients did,” he said.
Ben Stein (no relation) was the original owner of Bensons Jewelers, opening the store alongside his sons in 1939. The store’s name, Bensons, is a combination of the words “Ben” and “sons.”
Ken’s father, Paul Stein, bought the business from Ben in the 1960s. Ken started working there in 1979 and bought out his father in the 1990s.
Bensons Jewelers was the store that made national news in 2019 when Ken honored a gift certificate from 1969 for a knife, spoon and fork.
This image provided by Bensons Jewelers shows the gift certificate for Stieff silverware dated Nov. 8, 1969. George and Cathy Jones (née Swindell) found the unclaimed gift while flipping through their wedding album on their 50th anniversary.
Stein got numerous emails through his website thanking him for restoring their faith in humanity and pledging their allegiance to the store.
Ken shared a few of those emails with National Jeweler when it reported the story in November 2019.
“Dear Bensons,” one man wrote, “I saw the ‘feel good’ story today on NBC News 4 of you honoring a 50-year-old gift certificate. Great job on your part, I will certainly use Bensons for my future jewelry needs. Thanks for [an] act of kindness seldomly seen.”
But any bump in business related to Ken’s kind act was not enough to sustain Bensons Jewelers through what hit just a few months later, the COVID-19 pandemic and its life-altering aftermath.
Bensons Jewelers closed Feb. 24. Stein said he’ll be liquidating all his inventory.
“It’s all very bittersweet,” he said when asked about his unplanned retirement.
“I didn’t want to go out this way. I wanted to go out on my own terms.”
More on Independents
The Latest
EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
SourcingNov 22, 2024
Facets of Fire Expands to Include Pear, Marquise DiamondsThe company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
Weekly QuizNov 21, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsNov 21, 2024
Gold Watch Gifted to Titanic Rescue Ship Captain Sells for $2MThree Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
Policies & IssuesNov 20, 2024
Columbia Gem House Raises $10K for Reforestation EffortsThe money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
Events & AwardsNov 20, 2024
The Jewelry Symposium Opens Registration, Scholarship ApplicationsThe event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
CrimeNov 19, 2024
Woman Killed in Armed Robbery of Sacramento Jewelry StoreLocal reports identified the woman as the wife of the jewelry store owner.
AuctionsNov 19, 2024
‘A Tsar’s Treasure’ Fetches $2.9M at Sotheby’s Jewelry SaleA collection of pieces owned by Ferdinand I, the first king of modern Bulgaria, and his family, blew away estimates in Geneva last week.
MajorsNov 19, 2024
Trove Opens First US Flagship in NYCThe Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
CollectionsNov 19, 2024
Snoop Dogg’s New Jewelry Collection Is All About Love“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
EditorsNov 18, 2024
Q&A: Helzberg CEO Brad Hampton on the Jeweler’s RebrandHampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
Policies & IssuesNov 18, 2024
Reciprocity Jewels Returns to NYC Jewelry WeekThe group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
CollectionsNov 18, 2024
Dolly Parton Shines in Collaboration with Kendra ScottThe collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
Events & AwardsNov 18, 2024
IGI Jewelry Design Competition ReturnsThis year’s theme asks designers to take inspiration from classic fairy tales.
EditorsNov 15, 2024
Why Fine Jewelry Belongs at New York Comic ConSenior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
CollectionsNov 15, 2024
Marie Lichtenberg Battles Counterfeits with New ‘Raiz’in Scapular’ DesignsThe latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
WatchesNov 15, 2024
Piece of the Week: Citizen’s Commemorative Pocket WatchNo. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.
Recorded WebinarsNov 15, 2024
Watch: 10 Tips to Keep Your Jewelry Store Secure On the latest episode of “My Next Question,” two experts share best practices for store security during the holidays and year-round.
