Jewelry and Silverware Manufacturers

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Industry Structure, How Firms Opertate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Quarterly Insight, Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 2,000 jewelry and silverware manufacturers in the US manufacture all types of jewelry, silverware, and related components. Major product categories include gold and platinum jewelry; silver and silver-clad jewelry; jewelry made of precious stones, semi-precious stones, pearls, or stamped metal; and costume jewelry. Silverware accounts for a very small percentage of the industry.

Seasonal Demand

Demand for jewelry is highly seasonal and peaks during gift-giving occasions, such as the November-December holidays, Valentine’s Day, and Mother’s Day.

Variable Material Costs And Supply

The price of metals and gemstones is highly volatile and fluctuates based on market conditions and investor sentiment.

Industry size & Structure

The average jewelry or silverware manufacturer operates out of a single location, employs 9 workers, and generates $3-4 million in annual revenue.

    • The jewelry and silverware manufacturing industry consists of about 2,000 companies that employ about 18,600 workers and generate $7 billion annually.
    • The industry is concentrated at the top and fragmented at the bottom; the top 50 firms account for 73% of industry sales.
    • Jewelry manufacturers account for the vast majority of industry sales and establishments. The domestic silverware manufacturing industry accounts for about 1% of sales.
    • Large companies, such as Tiffany's and David Yurman, may have retail operations. Other large jewelry manufacturers include CMJ Manufacturing, Stuller, and Bita Collection. Large silverware manufacturers include Oneida (Everywhere Global) and Lenox, both of which rely on overseas production and are owned by conglomerates.
                                Industry Forecast
                                Jewelry and Silverware Manufacturers Industry Growth

                                Coronavirus Update

                                Nov 20, 2021 - Uncertainty may Affect Near-term Demand
                                • Jewelry demand may get a boost if the number of new COVID-19 cases increases during the holiday season despite the increasing vaccination rate. New Covid-19 diagnoses increased in about half of US states during the week ending on November 13. Hospitalizations are up in 11 states, and deaths have risen in 17 states. US coronavirus cases have plateaued in recent weeks at about half of the peak from the summer 2021 surge. While new cases have fallen in some states, they're rising in others, particularly in cold-weather states. Industry experts say that forgone travel expenditures may be replaced with jewelry expenditures.
                                • Signet, which owns jewelry chains Kay Jewelers, Zales, and Jared, said that consumer demand is high ahead of the holidays, and the company is not experiencing any supply chain disruptions. The company also raised its outlook for its fiscal third quarter and for its fiscal year. It was the second time in a few weeks that Signet increased its fiscal 2022 forecast.
                                • Brilliant Earth, a "digital-first" jewelry company which offers jewelry that consumers can design themselves with a focus on ethical gemstones, has filed for an initial public offering following strong growth during the pandemic. Brilliant Earth’s sales increased after pandemic-driven store and restaurant closures left some shoppers with extra time as well as discretionary income.
                                • Americans added nearly $4 trillion to their savings during the coronavirus pandemic, but 70% of that amount went to the wealthiest 20% of Americans, according to an Oxford Economics study. The excess savings, or savings above and beyond the normal pre-pandemic growth levels, were even more skewed to the top. Of the $2.6 trillion in excess liquid savings, 80% went to the top 20%, and 42% went to the top 1%. At the same time, "households in the bottom income quintile saved less than implied by their pre-pandemic behavior," the study found. Economists interviewed by the CNBC financial news network said that high-end restaurants, resorts, fashion, collectibles, jewelry, wine and other businesses that cater to the affluent will do better in the coming months than retailers and businesses for the mass market.
                                • The Oxford Economics study also found that about $360 billion of the $4 trillion saved during the coronavirus pandemic by Americans will be spent down over the next year and half, based on household spending and savings rates. The vast majority of the spending will be by the wealthy and affluent, who accumulated 70% of the $4 trillion. The study estimates that more than $250 billion of the roughly $360 billion in spending will come from the top quintile — which means consumer spending in the coming months and years will be strongest at the top.
                                • Rough diamond prices generally have recovered to pre-pandemic levels, while polished prices are slightly higher, according to the Business Standard news site. A pandemic-induced shift of discretionary expenditures from travel to jewelry is cited as a key driver of the rebound.
                                • Online fashion platform Moda Operandi found in its research that fine jewelry represents an "investment" category that retains long-term value, so people are shopping for it even in an uncertain economy. The Last Line founder Shelley Sanders, however, suggests that shoppers may be turning to her bright, joyful designs for a mood boost.
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