IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
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
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
SourcingAug 28, 2026
Gareth Penny to Give Opening Speech at CIBJO Centenary CongressThe former De Beers CEO, and perhaps its next owner, will be a featured speaker at the event, slated for Sept. 4-7 in Italy.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
SourcingAug 27, 2026
OFAC Renews License Allowing Import of ‘Grandfathered’ Russian Diamonds General License 104B supersedes General License 104A, which was set to expire on Sept. 1.
