AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
IndependentsMay 01, 2019
No. of Jewelry Store Closures Drops Sharply in Q1
JBT data shows that 73 U.S. retailers went out of business in the first quarter, down from 241 in the same period last year.
Warwick, R.I.—The number of jewelry retailers, wholesalers and manufacturers calling it quits dropped sharply in the first quarter, data from the Jewelers Board of Trade shows.
In North America (defined by JBT as the United States and Canada), 99 jewelry businesses—83 of which were retailers—closed in Q1, down from 310 companies in the first quarter of last year. That is a 68 percent drop.
Consolidations numbered 30, down from 48.
RELATED CONTENT: Last Trabert & Hoeffer Store to CloseLooking at the U.S. market alone, 89 jewelry businesses ceased operations in the first quarter, down from 288 in the first quarter 2018.
The number of retailers that went out of business in the U.S. declined by more than half, from 241 in Q1 2018 to 73 in Q1 2019. That is a 70 percent drop.
U.S. jewelry business consolidations (acquisitions and mergers) totaled 30, down from 45, while bankruptcies fell by almost half, from 10 to six.
“Short-term, there’s been a slowdown in people closing,” JBT President Richard Weisenfeld said in an interview last week. “Is that going to keep up? I’d be guessing if I’d say yes or no.”
He noted that it’s difficult to draw long-term conclusions from quarterly data, but did predict that the industry will continue to contract. At what pace, though, he is not certain.
While the number of retailers, wholesalers and manufacturers exiting the industry declined, data shows that the number of new jewelry businesses entering also slipped.
JBT’s New Businesses Summary for Q1 shows that the industry welcomed 57 new jewelry businesses in the first quarter—48 retailers, seven wholesalers and two manufacturers. That is fewer than the 64 that entered in the industry in the first quarter last year.
All the business openings were in the U.S.
Weisenfeld said the number of new businesses, particularly retail jewelry stores, could pick up as the year progresses as new retailers open to fill the void left by closing independents.
Another potential growth area he sees for the industry is in lab-grown diamonds, a product, he recognizes, that does not come without controversy.
There is a debate in the industry over how to grade lab-grown diamonds, how to price them, their long-term value and environmental impact, as well as confusion over how to describe them.
RELATED CONTENT: A Quick Review of the FTC’s Rules on Lab-Grown DiamondsBut Weisenfeld said as a new product
line, man-made diamonds will impact all levels of the industry, possibly helping to shore up business for certain retailers, manufacturers and wholesalers and slow the shrinkage.
“It’s been a long time since there’s been a whole new category, in my mind, that’s been sure to sell,” he said. “It’s like a gift for the industry.”
“It’s been a long time since there’s been a whole new category, in my mind, that’s been sure to sell,” he said. “It’s like a gift for the industry.”
More on Independents
The Latest
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
Weekly QuizJun 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
MajorsJun 24, 2026
CaratLane Names New Chief Sales OfficerDhaval Raja has been appointed to the role.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
SourcingJun 23, 2026
New Paraíba Tourmaline Source Reportedly Discovered in EthiopiaSSEF issued a notice about the potential new source of the sought-after gemstone, citing “credible reports” from trade sources.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
