CollectionsJul 10, 2025
Penny Preville Celebrates 5 Decades of Jewelry DesignThe brand is marking its 50th anniversary with a limited-edition bangle, high jewelry suites, new collections, and more.
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
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
MajorsJul 10, 2025
LVMH Names New Chairman, CEO of the AmericasLongtime LVMH executive Michael Burke has stepped into the role.
Events & AwardsJul 10, 2025
IAC Gold and Diamond Conference Returns to NYC Central topics of next week’s event include climate action, labor rights, artisan preservation, and value retention in producing countries.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
MajorsJul 10, 2025
Hearts On Fire Appoints New Sales DirectorVickie Rokkos has joined the jewelry company as its new national sales director of North America.
Weekly QuizJul 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysJul 09, 2025
Jewelry Stays Strong as Luxury Market Slows, Bain & Co. Says Turbulence will be the new baseline for luxury as it faces its biggest potential setbacks in 15 years, a recent report said.
Policies & IssuesJul 09, 2025
James Avery to Donate $1M to Texas Hill Country Relief EffortsThe jewelry company is one of several contributing to relief efforts in the region after the recent floods.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
Supplier BulletinJul 09, 2025
JCK Unwrapped: Trends, Insights & Post-Show TipsSponsored by Rio Grande Jewelry Supply
CollectionsJul 09, 2025
Cece Jewellery’s New Fruit Jewels Celebrate Life’s SweetnessThe “For the Love of Fruits” collection features five fruit pendants, each holding a different meaning.
EditorsJul 09, 2025
The Most-Read Stories of 2025, So FarDiamonds and crimes (some involving diamonds) top the list of National Jeweler’s most popular stories halfway through the year.
SourcingJul 09, 2025
Florida Couple Finds 3-Carat Diamond in ArkansasThey discovered “The Dash Diamond,” named for their dog, at the Crater of Diamonds State Park earlier this month.
CollectionsJul 08, 2025
Mikimoto’s High Jewelry Collection Turns Pearls into PetalsThe “Les Pétales” collection imagines roses caught mid-bloom as a tribute to nature’s beauty.
ColumnistsJul 08, 2025
Peter Smith: Why Jewelers Struggle With Premium PricingLuxury brands charge thousands for their shoes and handbags. Jewelers pricing diamond products should take note, Peter Smith writes.
TechnologyJul 08, 2025
‘Diamond Divas’ Brings the Showroom to Social Media Reality SeriesIt follows New York-based brand Shahla Karimi Jewelry’s all-women team in “Say Yes to the Dress” meets “The Office”-style episodes.
Policies & IssuesJul 08, 2025
SMO Gold Launches New FoundationIn its inaugural year, the SMO Foundation will focus on supporting two organizations in West Africa and one in South America.
Policies & IssuesJul 07, 2025
Higher Tariffs Set to Take Effect Aug. 1, Officials SayThe announcement comes just as the 90-day freeze on the “reciprocal” tariffs nears its end, giving countries more time to negotiate.
SourcingJul 07, 2025
Natural Diamond Council CEO David Kellie To Step DownKellie, who joined the organization in 2019, will remain in his role through the end of 2025.
CrimeJul 07, 2025
7 Suspects Charged in California Jewelry Store BurglaryPolice officers apprehended the suspects as they were allegedly attempting to gain entry into another jewelry store.
Events & AwardsJul 07, 2025
Applications Open for Ella Klein Internship The program, a collaboration between Julius Klein Diamonds and the Women’s Jewelry Association, is in its second year.
Supplier BulletinJul 03, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
MajorsJul 03, 2025
Brilliant Earth Names Tennis Star Madison Keys as Its New AmbassadorThe 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.
MajorsJul 03, 2025
Muse Sets Up Shop in Nordstrom’s New Jewelry HallThe West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.
SourcingJul 03, 2025
SRK Announces Its Natural Diamonds Are Now Carbon-NegativeThis past year, the manufacturer said it recorded below-zero emissions per carat of natural diamond.
CollectionsJul 03, 2025
Piece of the Week: A Firework of Diamonds From YepremThe brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.
CrimeJul 03, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in BurglariesJSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.
MajorsJul 02, 2025
Boucheron Looks to LA for First West Coast FlagshipLocated on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.
