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Jewellery stands resilient amid U.S. retail slowdown

Despite tariffs, soaring gold prices, and shifting diamond dynamics, the U.S. fine jewelry sector enters 2026 with steady demand, strong holiday momentum and a leaner, more resilient base of retailers driving sustainable growth.

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Fine jewelry stands resilient amid wavering consumer sentiment, projecting gains through 2025 despite recession fears. U.S. sales surpassed $100 billion in 2024 and rose 5% in the first ten months of 2025.​

Post-pandemic surges persist, with independents driving 13% year-over-year growth in October 2025. National chains like Signet dominate, but smaller players posted monthly gains except February.​

A 50% tariff on Indian imports pressures margins, already thin in diamond processing, though retailers hold near 50% levels. Gold at $4,100/oz has not deterred luxury buyers viewing it as a value store.​

Store counts fell 13% since 2020 to 16,873 in Q2 2025, consolidating a resilient core. Holiday momentum signals sustained elevated sales into 2026, despite tariffs and lab-grown shifts.​

The industry may be generating healthy revenue, but fewer firms are carrying the load. For many insiders, this thinning of the competitive field is not necessarily negative; it leaves a more resilient core of operators capable of investing in security, staffing, and modern retail practices.

As jewelers head into the holiday season, the sector is closing 2025 on firmer footing than expected. Tariffs, gold prices and the ongoing reshaping of the diamond landscape—particularly the role of lab-grown stones—will dominate the conversation early in 2026. Yet overall sentiment remains cautiously optimistic: sales appear sustainable at the elevated levels established over the past five years, even if fewer jewelers stand ready to benefit from them.

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Van Cleef & Arpels Gives Its Iconic Alhambra a Pink Enamel Makeover

The Maison Introduces Five New Alhambra Creations Featuring Translucent Pink Enamel and Yellow Gold

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Van Cleef & Arpels has unveiled a vibrant new chapter for its iconic Alhambra collection, introducing translucent pink enamel to the signature four-leaf clover motif for the first time. The new creations combine the Maison’s emblem of luck with yellow gold, bringing a fresh, contemporary expression to the enduring design.

The new five-piece selection comprises a Vintage Alhambra pendant, five-motif bracelet, 10-motif necklace, 20-motif long necklace and Magic Alhambra two-motif earrings. The earrings additionally feature guilloché yellow gold, adding texture and contrast to the pink enamel.

The distinctive pink is the result of several years of research at Van Cleef & Arpels’ enamel workshops. Inspired by the historic 17th-century “gold-ruby” technique, the colour is created using fine particles of gold rather than traditional pigments. Carefully controlled particle size, shape and concentration produce the desired translucent hue.

Adding to its visual depth, the enamel contains tiny bubbles, giving each Alhambra motif a distinctive character while creating subtle variations as the surface catches and reflects light. The motifs are framed by the Maison’s signature gold beaded contours, further enhancing the interplay between the pink enamel and yellow gold.

Since its debut in 1968, Alhambra has continually evolved through different stones, materials and colours while retaining its instantly recognisable four-leaf clover silhouette. The introduction of enamel marks another significant step in that evolution, bringing together heritage craftsmanship, technical innovation and contemporary colour.

With its new pink interpretation, Van Cleef & Arpels continues to reinvent one of jewellery’s most recognisable motifs, demonstrating how traditional savoir-faire can give a familiar icon an entirely new expression.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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