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
SourcingSep 04, 2025
Lucara Unveils Unusual 37-Carat Pink DiamondThe Type IIa stone, recovered from Botswana’s Karowe diamond mine last month, features unique coloration.
Events & AwardsSep 04, 2025
27 Can’t-Miss Converge Sessions, Events From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
WatchesSep 04, 2025
Breitling Takes Its NFL Game to the Next Level Breitling is now the NFL’s official timepiece partner, a move that puts the brand in front of the millions of Americans who watch football.
Weekly QuizSep 04, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsSep 04, 2025
The NYC Jewelry, Antique, & Object Show Returns in NovemberNYCJAOS is set for Nov. 21-23 in New York City’s Chelsea neighborhood.
SourcingSep 03, 2025
Gemfields Confirms Completion of Fabergé SaleU.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
MajorsSep 03, 2025
These Are the Nearly 300 Claire’s Stores Set to CloseA new court filing details the locations of the stores that will close, as well as the 830 that will remain open.
MajorsSep 03, 2025
Stuller Releases 2 New Catalogs The new catalogs are “Tools, Equipment, & Metals” and “Findings & Metals.”
TrendsSep 03, 2025
Amanda’s Style File: A Perfect BirthstoneSapphire’s variety of colors make it the perfect birthstone for September.
FinancialsSep 02, 2025
Lab-Grown Diamonds, Lower-Priced Fashion Jewelry Drive Signet Jewelers’ Q2 SalesThe retailer has raised its guidance after seeing total sales increase 3 percent in the second quarter, beating expectations.
MajorsSep 02, 2025
Birks CEO Jean-Christophe Bédos Steps DownNiccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.
MajorsSep 02, 2025
Harry Winston Opens Its Largest Flagship in JapanThe three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.
CollectionsSep 02, 2025
Stephanie Gottlieb Debuts Silver Designs in ‘All Hours’ CollabThe collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.
AuctionsAug 29, 2025
Sotheby’s UAE Sale to Feature 32-Carat Fancy Vivid Orangy Pink DiamondThe highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.
FinancialsAug 29, 2025
Movado’s Q2 Sales Rebound Despite Tariff ImpactCEO Efraim Grinberg noted a resurgence in the fashion watch market.
CollectionsAug 29, 2025
Piece of the Week: Mark Davis’ ‘Bullseye’ Necklace The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.
Supplier BulletinAug 28, 2025
Clientbook Is Helping Jewelers Turn Clienteling Challenges into Wins with Hands-On Training and CoachingSponsored by Clientbook
GradingAug 28, 2025
GIA’s New ‘Quality Assessment’ for Lab-Grown Diamonds Is Coming It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.
SourcingAug 28, 2025
Botswana Declares Public Health Emergency Amid Diamond Sales SlumpPresident Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.
MajorsAug 28, 2025
Borsheims Names New Jewelry BuyerFormer Free People buyer Afton Robertson-Kanne recently joined the retailer.
EditorsAug 27, 2025
Taylor Swift’s Engagement Ring Is a Fairy Tale for Vintage Diamond CutsThe singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.
SourcingAug 27, 2025
11,685-Carat Emerald Recovered From Zambia’s Kagem MineDubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.
SurveysAug 27, 2025
Consumer Confidence Slips in August Amid Job, Income WorriesPlans for dining out, booking vacations, and buying big-ticket items were down.
CollectionsAug 27, 2025
Mined + Found’s New Collection Gets Playful The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.
