GradingFeb 02, 2026
IGI to Acquire American Gemological Laboratories IGI is buying the colored gemstone grading laboratory through IGI USA, and AGL will continue to operate as its own brand.
OtherMay 12, 2014
Industry continuing to shrink, but more slowly
The size of the jewelry industry continued to contract in the first quarter, with the number of new businesses increasing only 1 percent year-over-year while consolidations nearly doubled.
New York--The size of the jewelry industry continued to contract in the first quarter, with the number of new businesses increasing only 1 percent year-over-year while consolidations nearly doubled.
According to first quarter statistics from the Jewelers Board of Trade, the number of companies entering the jewelry business in the United States remains small, totaling 76 in the first quarter, up from 75 in the first quarter 2013. This includes a 6 percent drop in the number of new retailers while 12 new wholesalers entered the trade, up from 7 last year.
Including Canada, the number of new jewelry businesses increased 4 percent year-over-year from 75 to 78.
The total number of JBT listings for the U.S. was 28,791 at the end of the first quarter, down very slightly from 28,822 a year ago. Including Canada, the total number of new businesses was 30,028 compared with 30,009 a year ago.
JBT President Dione Kenyon notes that while the industry continues to shrink in size, the pace of consolidation has slowed. In addition, the way companies are exiting the business has changed following the recession, when the number of bankruptcies skyrocketed.
JBT statistics showed that U.S. bankruptcies continued to decline in the first quarter, falling 8 percent, which is consistent with a national trend. “It’s just easier to close your doors,” Kenyon says. “That doesn’t mean people aren’t closing down, but they generally aren’t going to be spending money to put themselves through that process.”
Case in point: the JBT’s first quarter statistics show that while bankruptcies fell year-over-year, the total number of business discontinuances in the U.S. was up 11 percent, from 214 last year to 238 in the first quarter 2014. Including Canada, business discontinuances increased 9 percent year-over-year.
Companies that ceased operations climbed 1 percent in the U.S. while consolidations grew from 30 to 53, a 77 percent increase.
“I am not saying they’ve (economic conditions) rebounded in a dramatic way but because business is getting a little bit better, people feel like their businesses are in a condition to sell them. Or (they’ve decided) it’s time to call it a day,” Kenyon says.
She adds that the price of gold also could influence some in the industry to sell their businesses right now.
Still hovering around $1,300 an ounce ($1,295.70 an ounce as of press time, according to Kitco.com), it is enough for
Editors' Picks
Sponsored by
retailers with gold inventory to make some money selling it.
In addition, retailers who survived the downturn by buying gold from the public might decide to get out of the industry now that the practice has dried up for the most part. “That too could have influenced some on the retail side” to exit, she says.
Overall, Kenyon says that business activity was quiet in the first quarter, which is not surprising considering the harsh winter; one New York area retailer reported being open only six days for the entire month of February. The number of claims increased 8 percent, from 274 to 295 while the average amount of the claims fell 5 percent from $8,560 to $8,148.
Since April, however, Kenyon says activity has begun to pick up, with more members ordering credit reports and increased collections.
Barring a geo-political crisis, she says she expects conditions to remain the same for the remainder of 2014. She says that the true test will come about a month after the Las Vegas shows, when it will become apparent how much of that activity on the show floor materializes into real business.
More on Other
The Latest
CrimeFeb 02, 2026
Ylang 23’s Dallas Store BurglarizedThe Texas jeweler said its team is “incredibly resilient” and thanked its community for showing support.
EditorsFeb 02, 2026
Stars Choose Chokers, Elongated Earrings at 2026 GrammysFrom cool-toned metal to ring stacks, Associate Editor Natalie Francisco highlights the jewelry trends she spotted at the Grammy Awards.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
CollectionsFeb 02, 2026
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the fact that the 2026 Olympics are taking place in two different cities.
Weekly QuizJan 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
MajorsJan 30, 2026
Arch Crown’s 2026 ‘Tag & Label’ Catalog Is HereThe catalog includes more than 100 styles of stock, pre-printed, and custom tags and labels, as well as bar code technology products.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
WatchesJan 29, 2026
Audemars Piguet Opens AP House in AtlantaThe Swiss watchmaker has brought its latest immersive boutique to Atlanta, a city it described as “an epicenter of music and storytelling.”
SourcingJan 28, 2026
Ethical Gem Fair to Debut Designer Showcase in TucsonThe new addition will feature finished jewelry created using “consciously sourced” gemstones.
ColumnistsJan 28, 2026
Peter Smith: Setting the Next Generation Up for SuccessIn his new column, Smith advises playing to your successor's strengths and resisting the urge to become a backseat driver.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
IndependentsJan 28, 2026
Foundrae Heads to Aspen for Latest Store OpeningThe new store in Aspen, Colorado, takes inspiration from a stately library for its intimate yet elevated interior design.
FinancialsJan 28, 2026
Tiffany & Co., Bulgari Sales Resilient as LVMH’s 2025 Sales SlipThe brands’ high jewelry collections performed especially well last year despite a challenging environment.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
MajorsJan 26, 2026
Francesca’s To Close All StoresThe retailer operates more than 450 boutiques across 45 states, according to its website.
MajorsJan 26, 2026
BIJC Names 5 New Board MembersThe new members’ skills span communications, business development, advocacy, and industry leadership.
CollectionsJan 26, 2026
Tiffany & Co. Celebrates 189 Years of Love StoriesThe jeweler’s 2026 Valentine’s Day campaign, “Celebrating Love Stories Since 1837,” includes a short firm starring actress Adria Arjona.
GradingJan 26, 2026
DCA Updates Colored Gemstone CourseThe new features include interactive flashcards and scenario-based roleplay with AI tools.
