Fine jewelers are slowly losing ground to brands in innovative fashion jewelry under $500 retail. If we don’t take action, it could be a fatal blow to our industry...
David Sherwood, CEO of Daniels Jewelers writes…
One of my key merchandise focus areas this year is innovative fashion jewelry under $500 retail. As fine jewelers, we are slowly losing ground to brands like Pandora, gorjana, Mejuri and Kendra Scott Jewelry — and if we don’t take action, it could be a fatal blow to our industry.
We all love selling bridal—big tickets, strong margins, and unique experiences. But the traditional model of “sell the engagement ring and make a customer for life” is being turned on its head. It’s not hard to imagine Pandora selling engagement rings in the near future. Will we be ready for that?
First, they came for our charms, but we didn’t sell charms, so we said nothing…Then, they took over affordable fashion jewelry, but we ignored it because it was “low ticket.” Now, they’re coming for engagement rings, and by the time we react, it might be too late.
That’s why I’m doubling down on fashion jewelry—not just to compete, but to innovate. In early 2025 meetings with vendors, I’ve seen incredible, unique designs that will keep us relevant in this critical space.
Take, for example, a collection I saw today from one of our long-term partners (a huge player in the natural diamond industry btw): lab-grown diamond crosses that I’m absolutely gaga over.
The way they’ve cut the diamonds to fit the design is the complete opposite of how natural diamonds must be handled. These shapes aren’t just different—they are impossible to achieve with mined diamonds.
Look closely, and you’ll see the details that make this collection truly special—my favorite is the upside-down pendulum in the center piece, which beautifully captures the emotion of Christ on the cross.
This is what lab-grown diamonds have always promised but have rarely delivered: the ability to take diamond beyond tradition and shape it to imagination:
• Natural diamonds are cut to highlight the eternal beauty of Earth’s rarest gem.
• Lab-grown diamonds allow artists to create entirely new visions, much like a painter with an untouched canvas.
This is not about copying Harry Winston designs and selling them for less. This is about unlocking creativity, letting designers push boundaries in ways that have never been possible before.
The opportunity is endless, and I couldn’t be more optimistic.
