As the year came to a close, the Kharon Brief asked a range of industry leaders to assess 2025’s biggest storylines and what’s coming in 2026 in sanctions, risk and compliance.
Sara Yood is chief executive officer and general counsel of the Jewelers Vigilance Committee.
Looking back: The new tariff and trade strategy implemented by the president majorly shifted the jewelry industry, which heavily relies on materials extracted and manufactured abroad. Tariffs immediately and drastically increased the cost of goods used to manufacture, and jewelry businesses have had to be nimble but also capable of paying large tariff bills even before they've sold the goods they are importing, a significant impact to the frequently used consignment model.
Looking ahead: Geopolitical forces used to live in the background of the jewelry industry but now increasingly affect the day-to-day operations of businesses in this space. I believe that this will unfortunately continue, and that businesses will need to continue to devote attention to these factors when making both short and long-term decisions.
Sara Yood is chief executive officer and general counsel of the Jewelers Vigilance Committee.
Looking back: The new tariff and trade strategy implemented by the president majorly shifted the jewelry industry, which heavily relies on materials extracted and manufactured abroad. Tariffs immediately and drastically increased the cost of goods used to manufacture, and jewelry businesses have had to be nimble but also capable of paying large tariff bills even before they've sold the goods they are importing, a significant impact to the frequently used consignment model.
Looking ahead: Geopolitical forces used to live in the background of the jewelry industry but now increasingly affect the day-to-day operations of businesses in this space. I believe that this will unfortunately continue, and that businesses will need to continue to devote attention to these factors when making both short and long-term decisions.
