Policies & IssuesJul 24, 2026
New Trump Tariffs: What They Mean for Jewelry The new sweeping slate of tariffs impacts 60 countries, including India, China, Thailand, Hong Kong, and the United Arab Emirates.
IndependentsMay 01, 2019
No. of Jewelry Store Closures Drops Sharply in Q1
JBT data shows that 73 U.S. retailers went out of business in the first quarter, down from 241 in the same period last year.
Warwick, R.I.—The number of jewelry retailers, wholesalers and manufacturers calling it quits dropped sharply in the first quarter, data from the Jewelers Board of Trade shows.
In North America (defined by JBT as the United States and Canada), 99 jewelry businesses—83 of which were retailers—closed in Q1, down from 310 companies in the first quarter of last year. That is a 68 percent drop.
Consolidations numbered 30, down from 48.
RELATED CONTENT: Last Trabert & Hoeffer Store to CloseLooking at the U.S. market alone, 89 jewelry businesses ceased operations in the first quarter, down from 288 in the first quarter 2018.
The number of retailers that went out of business in the U.S. declined by more than half, from 241 in Q1 2018 to 73 in Q1 2019. That is a 70 percent drop.
U.S. jewelry business consolidations (acquisitions and mergers) totaled 30, down from 45, while bankruptcies fell by almost half, from 10 to six.
“Short-term, there’s been a slowdown in people closing,” JBT President Richard Weisenfeld said in an interview last week. “Is that going to keep up? I’d be guessing if I’d say yes or no.”
He noted that it’s difficult to draw long-term conclusions from quarterly data, but did predict that the industry will continue to contract. At what pace, though, he is not certain.
While the number of retailers, wholesalers and manufacturers exiting the industry declined, data shows that the number of new jewelry businesses entering also slipped.
JBT’s New Businesses Summary for Q1 shows that the industry welcomed 57 new jewelry businesses in the first quarter—48 retailers, seven wholesalers and two manufacturers. That is fewer than the 64 that entered in the industry in the first quarter last year.
All the business openings were in the U.S.
Weisenfeld said the number of new businesses, particularly retail jewelry stores, could pick up as the year progresses as new retailers open to fill the void left by closing independents.
Another potential growth area he sees for the industry is in lab-grown diamonds, a product, he recognizes, that does not come without controversy.
There is a debate in the industry over how to grade lab-grown diamonds, how to price them, their long-term value and environmental impact, as well as confusion over how to describe them.
RELATED CONTENT: A Quick Review of the FTC’s Rules on Lab-Grown DiamondsBut Weisenfeld said as a new product
Editors' Picks
Sponsored by
line, man-made diamonds will impact all levels of the industry, possibly helping to shore up business for certain retailers, manufacturers and wholesalers and slow the shrinkage.
“It’s been a long time since there’s been a whole new category, in my mind, that’s been sure to sell,” he said. “It’s like a gift for the industry.”
“It’s been a long time since there’s been a whole new category, in my mind, that’s been sure to sell,” he said. “It’s like a gift for the industry.”
More on Independents
The Latest
TrendsJul 24, 2026
Amanda’s Style File: Ode to ‘The Odyssey’From coin pendants to diamond shields, these old world-inspired jewels are the perfect accessory for an epic journey.
TrendsJul 24, 2026
Courtney Leidy’s Silk Cord Pendants Center Unexpected Pairings Our Piece of the Week pairs a checkerboard-cut amethyst with an ivy green silk cord.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
Weekly QuizJul 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
Events & AwardsJul 22, 2026
NY Now Returns in August Under New OwnershipThe show, recently acquired by Rockview Management Group, will be held at New York City’s Javits Center from Aug. 2-4.
ColumnistsJul 21, 2026
Sherry Smith: Shattering the Illusion of the ‘Either/Or’ Diamond MarketSmith offers retailers guidance on creating an environment where natural and lab-grown diamonds can both thrive.
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
SourcingJul 21, 2026
Anglo Reportedly Selects Gareth Penny’s Consortium as Top Bidder for De BeersA Botswana government official told lawmakers Anglo has selected The Global Diamond Consortium, an entity chaired by Penny, to buy De Beers.
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
FinancialsJul 16, 2026
Richemont’s Jewelry Sales Soar for the Seventh Quarter in a RowJewelry sales for the company, which owns Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, rose 21 percent in the first quarter.
