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MJSA to Become Part of Jewelers of America
The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.
Jewelers of America and Manufacturing Jewelers & Suppliers of America have signed an agreement that will bring MJSA under the JA umbrella. Both organizations are over 100 years old; JA was founded in 1906, and MJSA was incorporated in 1903.
New York—Manufacturing Jewelers & Suppliers of America and Jewelers of America are slated to sign an affiliation agreement that will bring MJSA under the JA umbrella, the organizations announced Tuesday.
The boards of both organizations have agreed to the affiliation and the MJSA membership approved it in a vote that took place April 18.
All that remains now is for JA to complete a standard due diligence process, with the agreement expected to be finalized in the coming weeks.
In a letter published in the June issue of the MJSA Journal, which was mailed out today, MJSA Board Chair Edward DeCristofaro explained that the board’s decision to become part of JA was not taken lightly but came about as a result of industry consolidation.
Citing data from the Jewelers Board of Trade, he noted that the number of U.S. jewelry manufacturers has shrunk by half in the last 25 years.
“This contraction not only put financial stress on MJSA, but also constrained our shared strength,” DeCristofaro wrote. “Especially with advocacy issues (such as the recent tariff hikes), scale matters. To continue to make a difference to our members, we had to grow.”
Jewelers of America President and CEO David Bonaparte echoed DeCristofaro’s sentiment that there is strength in numbers when it comes to advocating for the jewelry industry’s interests in Washington, D.C., and locally.
“I think, in general, unifying the trade associations under one umbrella makes it better for the jewelry retailers and suppliers in the United States. It’s more unified leadership,” he said.
Bonaparte added that it is also more efficient to have a trade organization that represents the entire jewelry supply chain.
Related stories will be right here …
The boards of both organizations have agreed to the affiliation and the MJSA membership approved it in a vote that took place April 18.
All that remains now is for JA to complete a standard due diligence process, with the agreement expected to be finalized in the coming weeks.
In a letter published in the June issue of the MJSA Journal, which was mailed out today, MJSA Board Chair Edward DeCristofaro explained that the board’s decision to become part of JA was not taken lightly but came about as a result of industry consolidation.
Citing data from the Jewelers Board of Trade, he noted that the number of U.S. jewelry manufacturers has shrunk by half in the last 25 years.
“This contraction not only put financial stress on MJSA, but also constrained our shared strength,” DeCristofaro wrote. “Especially with advocacy issues (such as the recent tariff hikes), scale matters. To continue to make a difference to our members, we had to grow.”
Jewelers of America President and CEO David Bonaparte echoed DeCristofaro’s sentiment that there is strength in numbers when it comes to advocating for the jewelry industry’s interests in Washington, D.C., and locally.
“I think, in general, unifying the trade associations under one umbrella makes it better for the jewelry retailers and suppliers in the United States. It’s more unified leadership,” he said.
Bonaparte added that it is also more efficient to have a trade organization that represents the entire jewelry supply chain.
Incorporated in 1903, MJSA is an organization for jewelry manufacturers, suppliers, and designers that connects businesses with providers of jewelry-making equipment, supplies, and services.
It also provides related educational and informational resources, like the MJSA Journal.
Following finalization of the agreement, it will continue in that role but as part of Jewelers of America.
MJSA, as an entity, will be dissolved, though all the organization’s members will retain their current benefits and, in the coming months, gain access to JA’s benefits.
Bonaparte said this is one aspect of the affiliation agreement that excites him most—being able to provide more benefits for both MJSA and JA members, who will get access to whichever MJSA benefits work for their business.
MJSA’s current board also will be dissolved but an advisory board comprised of many of the organization’s current directors will be established to provide guidance and input on advocacy issues related to jewelry manufacturing and design.
The MJSA Journal will still be distributed monthly to both members and subscribers, and the MJSA Education Foundation, a 501(c)3 subsidiary of MJSA that provides scholarships, will continue to operate with its own board of trustees, though it will be governed by JA.
Rich Youmans will remain on as publisher of the journal and executive director of the foundation.
MJSA’s office in Attleboro, Massachusetts, eventually be closed, and all operations will be transferred to JA’s headquarters at 120 Broadway in New York City.
The organization has a total of eight employees, and Bonaparte said JA is still working through the integration process to determine how many employees will be retained.
The affiliation agreement with MJSA marks the third addition JA has made in the past decade.
The nonprofit trade organization acquired National Jeweler from Emerald Expositions (now known as just Emerald) in 2015.
In 2017, JA signed an affiliation agreement with the Diamond Council of America, and that organization’s headquarters also were relocated to 120 Broadway.
Last week, JA announced that its Chief Financial and Operating Officer Annie Doresca would succeed Terry Chandler as president and CEO of DCA.
National Jeweler is a for-profit subsidiary of Jewelers of America, which purchased the publication in 2015. The two organizations act independently of each other.
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