MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
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
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
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
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.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
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.
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.
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.
