TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
IndependentsMay 04, 2016
Jewelry Business Closures Climb 34% in Q1
A number of different factors are influencing the trend and it’s not expected to reverse course anytime soon.
Warwick, R.I.--The number of companies exiting the jewelry industry continues to climb due to a number of different factors, and the trend is not expected to reverse course anytime soon.
Data released this week by the Jewelers Board of Trade shows that in the United States and Canada, a total of 335 businesses ceased operations in the first quarter 2016, compared with 250 in the first quarter 2015. That’s a 34 percent increase.
Closings among manufacturers drove up the first quarter percentage increase as they more than doubled, from 15 in the first quarter 2015 to 34 this year.
The number of wholesalers ceasing operations rose from 38 to 46, a 21 percent year-over-year increase, while the number of retailers closing climbed from 250 to 255.
“The factors are in place for there to be fewer stores, for that pace to pretty much continue as it is.” --Anthony Capuano, JBT presidentThere also was a jump in the number of consolidations (sales/mergers), which rose from 28 in Q1 2015 to 53 in the first quarter this year, an 89 percent jump.
In an interview with National Jeweler on Monday, former JBT President Dione Kenyon, who will continue with JBT on a part-time basis through the summer, said the same factors that have been contributing to business closings since they began to spike in 2014 continue to do so today.
Among them are the retirement of baby boomer-aged store owners; competition from online sellers; and consumers with less discretionary income and more choices.
Both Kenyon and JBT’s new president, Anthony Capuano, agreed that the trend will continue for the foreseeable future.
Addressing specifically the closing of retail stores, which increased 29 percent in the first quarter, Capuano noted that the aging ownership of the family-owned independent jewelers and the shift to online retailing, “aren’t going to go away overnight.”
“The factors are in place for there to be fewer stores, for that pace to pretty much continue as it is,” he said.
Despite the continually climbing closures, Kenyon pointed out that there are bright spots in the industry, jewelers who have embraced technology and/or began thinking outside the box who are doing well.
There are also certain product categories that appear to have a head of steam among consumers.
According to statistics just released by De Beers, U.S. diamond jewelry sales grew 4 percent year-over-year in
2015. The U.S. remains the world’s No. 1 market for polished diamonds, increasing its share from 42 to 45 percent last year.
It’s also worth noting that independent jewelers aren’t the only brick-and-mortar retailers closing their doors.
Department store chains, for example, have been forced to shutter hundreds of stores--most recently, Sears announced it would be closing 78 additional locations--and according to The Wall Street Journal, even more are needed.
The WSJ cited a report from Green Street Advisors stating that six of the U.S.’s largest department store chains need to shutter a total of 820 stores among them in order to get back to the same level of profitability they enjoyed a decade ago.
It’s also worth noting that independent jewelers aren’t the only brick-and-mortar retailers closing their doors.
Department store chains, for example, have been forced to shutter hundreds of stores--most recently, Sears announced it would be closing 78 additional locations--and according to The Wall Street Journal, even more are needed.
The WSJ cited a report from Green Street Advisors stating that six of the U.S.’s largest department store chains need to shutter a total of 820 stores among them in order to get back to the same level of profitability they enjoyed a decade ago.
More on Independents
The Latest
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
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.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of CoverageLilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.
