Jewelry and Silverware Manufacturers NAICS 339910

May 5, 2026 - LVMH Jewelry Gains Despite Market Headwinds

• LVMH’s watches and jewelry division grew about 7% in the first quarter of 2026, driven largely by Tiffany & Co, which has become a key performance engine for the group and contributed more significantly to overall results than slower-growing categories like fashion, according to a Merca 2.0 report. Tiffany’s momentum reflects successful repositioning, brand investment, and expansion in major markets, helping it stand out in a challenging luxury environment. More broadly, jewelry’s strength is tied to its perception as a lasting, high-value purchase with consistent demand from occasions like engagements and gifting. For the US jewelry store industry, this indicates relative resilience, with stable demand supported by affluent consumers and milestone-driven purchases, even as other discretionary retail segments face greater volatility.
• With jewelry ranking as the top category by total dollars spent for Mother’s Day 2026, the holiday is expected to generate a record $38 billion in overall spending and drive increased demand for US jewelry manufacturers, according to the National Retail Federation. Jewelry sales are projected to reach $7.5B, reflecting strong consumer willingness to purchase higher-value items. About 45% of consumers plan to buy jewelry, up from last year, supporting steady order volumes for manufacturers. The emphasis on unique and meaningful gifts also benefits production of customized and design-driven pieces. Rising average gift spending ($284) further supports higher-margin product mix. Overall, Mother’s Day remains a key seasonal demand driver, boosting production activity, inventory turnover, and short-term revenue opportunities for domestic jewelry manufacturers.

• The US jewelry industry could receive significant tariff refunds after a US Court of International Trade ruling ordered Customs and Border Protection to reimburse duties imposed under the International Emergency Economic Powers Act (IEEPA), according to a report by JCK Online. The refunds could total about $175 billion across industries, offering potential financial relief for jewelry companies that paid tariffs over the past year on imported materials and finished goods. However, the timeline remains uncertain as the administration is expected to appeal the ruling, and industry leaders say companies must wait to see how the refund process unfolds. Historically, tariff refunds can take time—the government’s 1998 refund case took two years to complete. Jewelry companies are being advised to gather documentation and prepare to receive electronic refunds. The ruling does not apply to the current 10% global tariff, which may rise to 15%, meaning tariff-related cost pressures could continue.
• In April 2026, the Conference Board Consumer Confidence Index rose modestly to 92.8, indicating consumers remain supported by a solid labor market and are still willing to spend, while the April University of Michigan Consumer Sentiment Index fell to around 49.8, reflecting growing concern about inflation and future economic conditions. This divergence points to a consumer who is still transacting but increasingly cautious about discretionary purchases. In the context of the U.S. jewelry store industry, this suggests demand may remain stable for key occasions, but with heightened price sensitivity and more selective buying behavior. Consumers are likely to prioritize value, delay non-essential purchases, or trade down in price points, while higher-end or purely discretionary jewelry sales may face increased pressure as households balance current spending with uncertainty about future finances.