Events & AwardsAug 24, 2026
JIS Miami Opens Fall 2026 RegistrationThe show is slated for Oct. 16-19 at the Miami Beach Convention Center.
IndependentsDec 01, 2016
More Than 300 Jewelers Went Out Of Business in Q3
Year-to-date, nearly 900 retailers in the U.S. and Canada have closed up shop, along with 178 wholesalers and 104 manufacturers.
New York--The trend of jewelry businesses shutting down continued in the third quarter, with the total number of closures pacing well ahead of last year.
The Jewelers Board of Trade’s vital statistic and trend data report for the third quarter shows that a total of 400 U.S. and Canadian jewelry businesses called it quits in the third quarter: 318 retail jewelers/repairers, 57 wholesalers and 25 manufacturers.
That is up 42 percent from the third quarter 2015, when 282 jewelry businesses closed, including 240 retail jewelers/repairers, 34 wholesalers and eight manufacturers.
Year-to-date, a total of 1,177 jewelry business owners ceased operations: 895 retail jewelers/repairers, 178 wholesalers and 104 manufacturers.
That is a 57 percent increase over last year.
“The trend is not reversing itself. There’s a downward trend in the number of retailers,” JBT President and CEO Anthony Capuano said in an interview Wednesday.
The reasons for the closures have been well documented.
Baby boomer store owners are reaching retirement age and many don’t have children who are interested in staying in the family business.
RELATED CONTENT: Column--What it Feels Like to Close My Store
At the same time, baby boomer consumers are entering a phase in their life in which they are looking to downsize and are not buying as much, for lack of a better word, stuff, choosing instead to spend their money on experiences.
Their children, the millennials, also value spending money on experiences over physical possessions, and many don’t enjoy the same level of middle-class security as the generations before them.
Further complicating the picture for brick-and-mortar retailers is increased competition, not just in terms of what consumers can and want to buy--experiences over physical possessions--but from online sellers of jewelry.
“Retailers are really fighting for those dollars because they are fighting a whole pattern of purchasing,” Capuano said. “You just have to be really good to survive and prosper.”
While the continually climbing number of closures among independent retailers is making news in the jewelry industry, it’s an old story for those who operated family-owned furniture and hardware stores and saw their industries taken over by large chains years ago.
RELATED CONTENT: Analysis--State of the Majors
“I think this is sort of catch up right now,” Capuano said, though he noted that the personal nature of jewelry means that the independents in his industry are better positioned for survival than those in other fields.
As he put it, “Buying a screw is not a personal experience.”
Capuano
Editors' Picks
Sponsored by
also pointed to custom jewelry as an area that can offer the independent jeweler differentiation, and it seems that retailers of all sizes already are taking advantage of their ability to create made-to-order rings.
In a recent National Jeweler/Jewelers of America survey, more than half of jewelers said their custom jewelry sales have increased over the past three years, and Signet Jewelers is emphasizing custom in its advertising campaign for Jared the Galleria of Jewelry this holiday season.
In a recent National Jeweler/Jewelers of America survey, more than half of jewelers said their custom jewelry sales have increased over the past three years, and Signet Jewelers is emphasizing custom in its advertising campaign for Jared the Galleria of Jewelry this holiday season.
More on Independents
The Latest
CollectionsAug 24, 2026
Francesca Villa Honors Napoleon, His Empresses In New CapsuleThe “Empresses” capsule uses 19th-century medals depicting Napoleon, Joséphine, and Marie-Louise across five one-of-a-kind pieces.
SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
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.
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
Weekly QuizAug 20, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsAug 21, 2026
Bijules, Kamyen Serve Up ‘Topspin’ Tennis Bracelet Ahead of US OpenIn our Piece of the Week, the designers reimagine the tennis bracelet with green enamel wrapped around a strand of “Desert Diamonds.”
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
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.
TechnologyAug 20, 2026
A New AI-Powered Gemstone Identification App Is HereFounder Vik Westermann said the app is a “starting point” to inspire people to work with appraisers and gem labs, not replace them.
AuctionsAug 20, 2026
Storied Unicorn Brooch Up for Auction Gallops to New Home The Verdura brooch, which belonged to the late Virginia Fortune Ryan Ogilvy, was sold to a private collector in Asia.
Events & AwardsAug 20, 2026
MJSA Education Foundation Names 5 Scholarship WinnersThe five students were awarded a total of $10,000 through the nonprofit’s 2026 “Future of Jewelry Making” scholarship.
MajorsAug 20, 2026
Plumb Club Elects 2026-2027 BoardSteven Lerche is now beginning his term as the youngest member to become president of The Plumb Club’s elected executive committee.
MajorsAug 19, 2026
Mike Alexander To Succeed Scott Murphy as Jewelers Mutual CEO Murphy will retire at the end of the year and Alexander, currently the company’s president, will take over at the start of 2027.
Policies & IssuesAug 19, 2026
Spinelli Kilcollin Embraces Dupes With Trade-In ProgramThe jeweler is encouraging customers who own lookalike rings to come into the store and trade them for credit towards an authentic piece.
MajorsAug 19, 2026
Zales Wants You to Wear Fine Jewelry Every DayThe new campaign, “You Are The Occasion,” discourages shoppers from saving their fine jewelry for special occasions only.
SourcingAug 19, 2026
Vasant Mehta, a Dedicated Diamond Industry Leader, Dies at 81Mehta led India’s GJEPC through the 2008 financial crisis and was respected worldwide for his wisdom, integrity, and knowledge.
CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner’s Tequila Brand Collab on GiveawayThe jeweler has partnered with 818 Tequila to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
