The jewelry industry continues to experience a rise in business closures, according to recent data from the Jewelers Board of Trade (JBT), a credit rating group based in Providence, Rhode Island.
In the first quarter of 2025, the number of jewelry business discontinuations in the U.S. and Canada increased by 16.7% compared to the same period last year, reaching a total of 217. This includes 178 businesses that shut down, 35 that merged or were acquired, and 4 that filed for bankruptcy. The majority of these closures, 212, were in the United States.
The number of new businesses entering the jewelry industry, however, saw a slight decline in the first quarter of this year. This marks a shift from the final quarter of 2024, when new business entries had been higher. JBT reported 92 new jewelry companies in the first quarter, a decrease from 97 during the same period last year. This total includes 69 retailers, 16 wholesalers, and 7 manufacturers. Two of the new businesses were in Canada.
In the U.S., 90 of these new companies were spread across various regions: 28 in the Northeast, 20 in the Southeast, 16 in the South Central region, 15 in North Central, 9 in the Southwest, and 2 in the Northwest.
At the close of the first quarter in 2025, JBT recorded 23,610 jewelry businesses across North America, a decrease of 3.4% from the previous year. This total includes 17,906 retailers (16,959 in the U.S.), 3,463 wholesalers (3,252 of them in the U.S.), and 2,241 manufacturers (2,119 in the U.S.).
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