International News
Jewells Partners with Hammerson to Launch Debut UK Stores
Westquay in Southampton and The Oracle in Reading will be the first new stores to open on 30 May, followed by two more at Bullring Birmingham and London’s Brent Cross from June.
Each location will be around 1,000 square feet and will showcase Jewells’ demi-fine jewellery, using materials including gold, silver, sustainable lab-grown diamonds and semi-precious stones.
These new spaces are set to be home to bespoke consultations, workshops, and immersive experiences.
Jewells’ chief brand officer Leah Uka says: “Launching our first-ever physical spaces in key destinations across the country has been an important process for us.
“We have ambitious expansion plans targeting 2,000 stores across 45 countries within five years, and to make that possible, it was necessary for us to establish the brand in the kinds of high-footfall and high-quality retail destinations that Hammerson have, to engage existing and new customers and create a wonderful retail experience for them.”
Paul O’Brien, Hammerson’s director of leasing and commercialisation, adds: “The decision for Jewells to open four of its first stores across our portfolio demonstrates the quality of our destinations and the confidence that leading retailers have in what Hammerson delivers.
“It also shows the pace we can execute deals, the support we can give to new entrants as they enter our markets, and a collaborative approach to delivering at scale.
“Jewells is backed by a proven operator and is an excellent fit for each of our locations, resonating with the young, fashion-forward audience our city destinations attract.”
International News
US Jewellery Companies Continued To Shrink In The Third Quarter:JBT
During Q3, Business Closures Dropped To 116 Compared To 126 In The Prior Year’s Third Quarter, Driven By 88 General Operational Cessations, 28 Acquisitions Or Mergers, and Zero Bankruptcies.
The number of active US jewelry companies continued to shrink in the third quarter, but at a slower pace than a year ago, according to the latest data from the Jewelers Board of Trade (JBT).The US jewelry industry continued its structural consolidation through Q3, though the pace of business closures showed signs of stabilizing compared to the previous year. Data from the Jewelers Board of Trade (JBT) reflects ongoing consolidation across retail, wholesale, and manufacturing, coupled with heightened credit volatility.
Key Data & Metrics
Nationwide, the active business footprint stands at 21,831 companies, reflecting a 1.4% year-over-year decline. During Q3, business closures dropped to 116 compared to 126 in the prior year’s third quarter, driven by 88 general operational cessations, 28 acquisitions or mergers, and zero bankruptcies. Meanwhile, new market entrants also slowed, with 67 new business openings recorded in Q3 down from 89 during the same period last year.
Sector-by-Sector Breakdown
| Sector | Active Count | YoY Change | Impact Summary |
| Retailers | 16,564 | -1.5% | Makes up the majority of the sector; experienced the largest net store count reduction. |
| Manufacturers | 2,061 | -1.7% | Steepest percentage decline among all segments. |
| Wholesalers | 3,206 | -0.9% | Relatively stable, holding the mildest contraction rate. |
Credit & Financial Health Trends
The JBT report highlights dynamic shifts in creditworthiness across US and Canadian businesses, signaling bifurcated financial health:
- Credit Downgrades: Jumped sharply to 1,655 (up from 620 in Q3 of the prior year).
- Credit Upgrades: Rose significantly to 1,480 (up from 551 in Q3 of the prior year).
While net business closures are tapering off, high numbers of simultaneous upgrades and downgrades point to a split market where resilient operators are strengthening their positions while vulnerable businesses face tighter financial pressures.
US Jewellery Companies Continued To Shrink In The Third Quarter:JBT
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