CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
SurveysJul 24, 2018
JBT Q2 Data: The Latest on Industry Closings, Openings
Second-quarter statistics from the Jewelers Board of Trade showed a continuation of the trend seen in the first quarter.
The latest statistics from the Jewelers Board of Trade show that in the United States, 108 new retailers have opened so far this year, up from 59 in the same period last year.
New York—Second-quarter statistics from the Jewelers Board of Trade showed a continuation of the trend seen in the first quarter: Jewelry stores continue to close, but there is an increase in the number of businesses coming online, with independents opening up stores where they sense opportunity.
The JBT’s new business summary for the second quarter 2018 showed an 80 percent year-over-year increase in the number of new jewelry retailers, wholesalers and manufacturers in North America, from 77 in 2017 to 137 so far this year.
In the United States, 108 new retailers have opened businesses in the first half of the year, nearly double the number that had done so by this point last year.
New wholesalers, meanwhile, number 15 while new manufacturers are at 10, up from six in both categories in the same period last year.
In an interview Monday, JBT President Richard Weisenfeld said small jewelry store chains—many of which are family-owned businesses that operate a handful of stores—are taking advantage of opportunities as they arise.
They are moving into markets where a jewelry store has just closed, looking to fill the void left by the exit of the community’s longtime local jeweler.
One example is Lee Michaels Fine Jewelry. The family-run retailer announced earlier this year that it would be opening its ninth store in Albuquerque, New Mexico, which lost Beauchamp Jewelers in 2016.
There is also a growing rate of retailers scaling back from being full-time brick-and-mortar stores to having limited hours or operating using a by-appointment-only model. (These types of transitions do not show up in the JBT’s quarterly statistics; they are not recorded as a new business opening or an existing business closing.)
In the coming quarter, however, Weisenfeld said he doesn’t expect the number of new businesses to continue to climb as sharply, pointing out that the first two quarters of the year are typically when jewelry retailers choose to open.
“If you’re opening a new store, you want it up and running before the holiday season. The time to do that is now, not September-October.”
“Long-term, I think it’s healthy for the industry. Everybody would be happy if there was a smaller, but more robust, group of independent retailers.” — Richard Weisenfeld on the continuing closures among retailersWhile there was an increase in the number of businesses entering the industry, the JBT’s Q2 statistics also show the
number of closures continues to rise, outweighing the number of new businesses coming online overall.
The number of jewelry businesses (retailers, wholesalers and manufacturers) in North America that have shut down so far this year is 507. That is a 4 percent increase from 2017.
In the United States, 399 jewelers have closed so far this year, compared with 371 in the same period last year, representing an 8 percent increase.
Wholesale closures in the U.S., meanwhile, are down to 46 from 62, while closures among manufacturers are up slightly, from 31 year-to-date last year to 33 so far this year.
Weisenfeld said he expects the closings to continue.
He said there are a number of businesses that are just “hanging on, hoping things will get better,” and also noted that the companies that run the industry’s going-out-of-business and inventory reduction sales are busy, both of which indicate more closings to come.
“Long-term, I think it’s healthy for the industry. Everybody would be happy if there was a smaller, but more robust, group of independent retailers,” Weisenfeld said.
The total number of jewelry business in North America listed with the JBT at the end of the second quarter 2018 was 26,743, down 4 percent year-over-year.
In the United States, listings totaled 25,484, down 5 percent from the same time last year.
The number of jewelry businesses (retailers, wholesalers and manufacturers) in North America that have shut down so far this year is 507. That is a 4 percent increase from 2017.
In the United States, 399 jewelers have closed so far this year, compared with 371 in the same period last year, representing an 8 percent increase.
Wholesale closures in the U.S., meanwhile, are down to 46 from 62, while closures among manufacturers are up slightly, from 31 year-to-date last year to 33 so far this year.
Weisenfeld said he expects the closings to continue.
He said there are a number of businesses that are just “hanging on, hoping things will get better,” and also noted that the companies that run the industry’s going-out-of-business and inventory reduction sales are busy, both of which indicate more closings to come.
“Long-term, I think it’s healthy for the industry. Everybody would be happy if there was a smaller, but more robust, group of independent retailers,” Weisenfeld said.
The total number of jewelry business in North America listed with the JBT at the end of the second quarter 2018 was 26,743, down 4 percent year-over-year.
In the United States, listings totaled 25,484, down 5 percent from the same time last year.
More on Surveys
The Latest
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry SalesThe best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education ScholarshipThis year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.
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.
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry“The Jewelry Book” comes out this September.
Weekly QuizJun 26, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech PlatformThe company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
IndependentsJun 27, 2025
David Webb Announces New Hires, PromotionsFollowing its recent acquisition, the storied brand has updated its leadership team and regional managers.
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.
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner AGS also named the recipient of its “Women in Leadership” scholarship.
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap RingThe 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers DownsizesRocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.
IndependentsJun 26, 2025
Penny Ruston Dies at 80 The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired JewelsThe “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 EventThe event is set for May 16-19 in Detroit, Michigan.
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight ContinuesThe Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef JewelryAgents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus PerformersThe designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund RecipientsThe trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.
SourcingJun 25, 2025
2025 AGTA Spectrum Awards Open for EntriesThe organization has also announced this year’s slate of judges.
EditorsJun 24, 2025
The Best New Jewelry from Couture 2025, Part 2Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.
IndependentsJun 24, 2025
Colorado Bench Jeweler Celebrates 50 Years With Local RetailerLori Tucker started at Williams Jewelers when she was 18 years old.
WatchesJun 24, 2025
Citizen’s New ‘Fantastic Four’ Watch Is Literally Super The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.
MajorsJun 24, 2025
Tacori, QVC to Launch Exclusive Lab-Grown Diamond Jewelry CollectionThe “XO Tacori” collection was designed to blend luxury and accessible pricing.
GradingJun 23, 2025
GIA Names New President and CEO Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.
Recorded WebinarsJun 23, 2025
Watch: Top Trends at Couture, JCK Las Vegas 2025National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.
SourcingJun 23, 2025
Diamond Producers, Organizations to Kick in Money to Promote Natural DiamondsSignatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.
Events & AwardsJun 23, 2025
Jose Hess Design Awards Celebrate 6 Jewelry DesignersThe winning designs captured the “Radiance” theme.
