6          STATE OF THE MAJORS 2026
MAJORS
STATE
the
 of the
2026
WHAT’S INSIDE
LETTER FROM THE EDITOR 
THE STATE OF RETAIL
Younger consumers have grown up with societal and economic 
uncertainty, and it’s affected how they live, shop, and scroll.
EDAHN’S TAKE
The U.S. jewelry market is not slowing down, it is splitting  
in two, Edahn Golan writes in his analysis of this year’s lists.
$100 MILLION SUPERSELLERS
A ranking of the largest sellers of fine jewelry and  
watches in North America by sales
TOP 50 SPECIALTY JEWELERS
A ranking of the largest jewelry chains in North America  
by store count
THE STATE OF JEWELRY DESIGN
The price of gold has reached record highs and jewelry  
designers are responding by being innovative and intentional.
THE STATE OF THE COLORED 
STONE MARKET
The next generation of American lapidaries consists of a 
network of self-taught cutters who are passionate, independent, 
and connected.
THE STATE OF THE DIAMOND INDUSTRY
The industry must readjust its messaging around natural  
diamonds in order to break through with the next generation  
of consumers.
FINAL THOUGHTS
Peter Smith lists 10 things about sales that will never change, 
from the fallacy of budgets to the power of putting on jewelry.
8
10
21
22
36
52
64
72
82
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