CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SurveysFeb 23, 2016
No. of US Jewelers Closing Climbs 24%
The latest statistics from the Jewelers Board of Trade show that in the United States, 760 retail jewelers/repairers ceased operations in 2015, up from 612 in 2014.
Warwick, R.I.--The Jewelers Board of Trade’s final statistics for 2015 show that the size of the industry is continuing to shrink slightly, with those who have decided it’s time to exit simply ceasing operations rather than filing bankruptcy or seeking out a sale or merger.
According to JBT data, 760 retail jewelers/repairers in the United States ceased operations in 2015, up from 612 in 2014.
The total number of U.S. jewelry businesses (counting retailers as well as wholesalers and manufacturers) that ceased operations was up 21 percent, from 770 in 2014 to 929 in 2015. Including Canada, the increase was 20 percent.
While there are a number of factors contributing to this continuing trend, JBT President Dione Kenyon said the main one is succession.
Many business owners are reaching retirement age and don’t have children who are interested in continuing the family business.
RELATED CONTENT: Demographic drop-off
They also might be unable, or unwilling at this point in their career, to change their business model to adapt to the demands of retail today.
“If you’re not up for the game of reinventing yourself, you might also be making that same decision,” Kenyon said. “I don’t think there’s anything mysterious about it.”
While the number of businesses ceasing operations continues to climb, bankruptcies remain relatively low and the number of consolidations (sales/mergers) continues to decline.
A total of 39 companies filed for bankruptcy in the United States in 2015, up from 33 in 2014, the JBT data shows. Including Canada, bankruptcies totaled 40, compared with 39 in the prior year.
Sales and mergers totaled 114 in the U.S. in 2015, down 33 percent from 170 in 2014. Including Canada, those figures were 118 and 173.
“If you’re not up for the game of reinventing yourself, you might also be making (the) decision (to close your store). I don’t think there’s anything mysterious about it.”While business discontinuances continued to rise in 2015, it’s not all bad news.
--Dione Kenyon, Jewelers Board of Trade
Kenyon said that credit inquiries, which she considers to be a viable proxy to indicate the level of business activity in the trade, are up year-over-year in February. She also noted that the U.S. hasn’t had terrible winter weather like it did last year--weather that forced some jewelers to close for almost all of February.
In addition, the number of new businesses entering the industry in the U.S. grew 11 percent year-over-year.
There
Editors' Picks
Sponsored by
were 227 new retailers, 41 wholesalers and 21 manufacturers totaling 289 new businesses, compared with 261 in 2014.
The highest concentration of new retailers opened in the Southeast part of the country (71), followed by the South Central (48) and Southwest (35), while the Northeast had the fewest amount of new retailers at seven.
Including Canada, new jewelry business listings totaled 292 in 2015, compared with 265 in 2014.
All told, JBT finished 2015 with 29,352 listings in in the U.S. and Canada, down 3 percent year-over-year.
“You can (look at) the gloomy side of this--the industry is getting smaller--(but) it is getting better for those who can figure out the new things to do,” Kenyon said.
As previously announced, Kenyon plans to retire this year after 14 years as president of the JBT and a total of 25 with the organization. Her successor will be named in the next month.
The highest concentration of new retailers opened in the Southeast part of the country (71), followed by the South Central (48) and Southwest (35), while the Northeast had the fewest amount of new retailers at seven.
Including Canada, new jewelry business listings totaled 292 in 2015, compared with 265 in 2014.
All told, JBT finished 2015 with 29,352 listings in in the U.S. and Canada, down 3 percent year-over-year.
“You can (look at) the gloomy side of this--the industry is getting smaller--(but) it is getting better for those who can figure out the new things to do,” Kenyon said.
As previously announced, Kenyon plans to retire this year after 14 years as president of the JBT and a total of 25 with the organization. Her successor will be named in the next month.
More on Surveys
The Latest
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat RubyThe ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft RecoveredThe two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More JewelryThe time to start experimenting with video content is now, writes columnist Emmanuel Raheb.
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic DesignFrom striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid TurnaroundThe jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair ServicesThe auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024The company also noted record sales in the United States and a strong performance in its jewelry category.
SourcingMar 21, 2025
BrankoGems To Hold Conference in MontanaThe event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.
TrendsMar 21, 2025
Piece of the Week: Marrow Fine’s ‘Til Death’ RingAfter the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.
IndependentsMar 20, 2025
Korman Fine Jewelry’s New Store Is Double the Size The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.
Events & AwardsMar 20, 2025
JCK Rocks to Feature Snoop Dogg, Jason DeruloThe rapper and singer-songwriter will perform at Tao Beach on June 8.
TechnologyMar 20, 2025
Chris Ploof, Severine Ferrari Launch YouTube Video Series“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.
Lab-GrownMar 20, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond SectorAs lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.
FinancialsMar 19, 2025
Signet Jewelers to Close Stores, Cut Staff Amid Declining SalesThe moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.
CollectionsMar 19, 2025
Jessica McCormack’s New Collection Elevates Office WearThe “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.
