Connect with us

Headlines

174 US Jewelry Retailers Closed in the Third Quarter

mm

Published

on

Only 34 new retailers opened.

The Jewelers Board of Trade reported that 174 U.S. jewelry retailers closed their doors in the third quarter of 2017.

That number represented a significant decrease from 327 closings in the third quarter of 2016.

The total included 146 retailers in the category of “ceased operations” as well as 22 “consolidations (sale/merger)” and six bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 228. That was a decrease from 416 in the third quarter of 2016.

Meanwhile, JBT reported that 34 new retailers opened their doors in the U.S., down from 49 in the third quarter of 2016.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 40. That was down from 63 new businesses in the year-ago quarter.

Advertisement

JBT listed a total of 19,830 jewelry retailers in the U.S. as of the third quarter of 2017, down from 20,674 in the same quarter a year ago.

The group listed 26,246 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 27,479 in the third quarter of 2016.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Having a Moving Sale? Let Wilkerson Do the Heavy Lifting

For Jim Woodard, owner of Woodard’s Diamonds & Design in Tullahoma, Tenn., when it was time for a moving sale, there was only one company to help with the event: Wilkerson. “They brought in the right team for us,” he says, remarking about the sale’s extraordinary results, including a nearly 500% monthly sales increase compared to the previous year. “I wanted to have the best in the industry. And that’s the main reason why I contacted Wilkerson.”

Promoted Headlines

Headlines

Jewelry Distributor Arrested With $15M in Counterfeit Goods, Police Say

$15M in counterfeit merchandise was seized.

mm

Published

on

The owner of a business in the downtown Los Angeles jewelry district has been arrested for allegedly selling counterfeit jewelry.

Moossa Lari is accused of felony trademark violation, according to a press release from the LA Police Department.

Moossa Lari

Investigators conducted several undercover buys and surveillance operations and determined that he was “a major distributor of counterfeit jewelry nationwide,” the release states.

Search warrants were served at multiple locations in the jewelry district on Nov. 7 by LAPD in collaboration with the FBI, Homeland Security Investigations and Custom Border Protection.

Officers seized about $58,000 in cash and over $15 million counterfeit jewelry with Street value of over $1 million, according to the release. Counterfeit jewelry recovered included fake Hermes, Gucci, Chanel, Louis Vuitton, Rolex, Michael Kors, Cartier, Tiffany Co., YSL, Dior, Calvin Klein, Guess, Van Cleef and Bvlgari pieces.

The counterfeit jewelry was tested at the scene and did not meet U.S. safety standards, the release states.

The standard of acceptable lead and cadmium is 90 parts per million. The seized counterfeit jewelry tested as high as 200,000 parts per million.

Continue Reading

Headlines

Video: It’s Not My Problem When You Buy a $120 Ring and Your Wife Finds Out It’s ‘Fake’

It’s not the jeweler’s fault she got mad.

mm

Published

on

LIKE ANY JEWELER, Cullen Wulf sometimes runs into customers who aren’t looking to spend much money.

Unfortunately, sometimes their expectations are way out of line with what they’re willing to pay.

In the video below, Cullen re-enacts a scenario where he encountered just such a customer — a customer whose wife was unhappy with her sterling silver and CZ anniversary gift.

The customer felt that Cullen was to blame, and Cullen set the record straight.

Take a look.

Continue Reading

Headlines

FTC Releases Disclosures Guidance for Social Media Influencers

It explains when and how influencers must disclose sponsorships to their followers.

mm

Published

on

Enlisting social media “influencers” has become a popular way to promote a wide range of products, including jewelry.

Unfortunately, it’s not always obvious to consumers what is and isn’t an ad. The Federal Trade Commission wants to fix that.

The FTC has released a new publication for online influencers that lays out the agency’s rules of the road for when and how influencers must disclose sponsorships to their followers.

The new guide, “Disclosures 101 for Social Media Influencers,” provides influencers with tips from FTC staff about what triggers the need for a disclosure and offers examples of both effective and ineffective disclosures.

The guide and accompanying videos underscore that the responsibility to make disclosures about endorsements lies with the influencer. The guide outlines the various ways that an influencer’s relationship with a brand would make disclosures necessary, and it reminds influencers that they cannot assume that followers are aware of their connections to brands.

Advertisement

The guide includes tips for when and how influencers should tell their followers about a relationship. For example, it suggests the words influencers might use, as well as where in their social posts a disclosure should appear.

The new publication summarizes the FTC’s existing guidance in this area, including the FTC’s Endorsement Guides and a 2017 question-and-answer document produced by staff.

Continue Reading

Most Popular