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When President Trump’s tariff talks started earlier this year, many American companies dependent on foreign partners—particularly in the jewelry industry, where raw materials are imported from countries like India, Canada, Thailand, and Botswana— braced for impact.
For jewelry designer Adina Reyter, who launched her namesake label in 2001, tariff uncertainties came at a time when raw materials prices were already skyrocketing.
“When I started, gold was $300 an ounce. It’s now $3,000 an ounce,” Reyter said. “You always have to contend with this—diamond prices and gold prices are always fluctuating—and you build it into your cost of goods. For us, the tariffs initially were a little bit of a shock, but I knew that I wasn’t going to really have that impact on our customers because I felt like that would work itself out. Once we understand where gold prices are going, obviously we have to make it work.”
While tariffs and fluctuating prices have brought instability to Reyter’s gold business, the jewelry designer’s sterling silver collections have proven to be a bright spot amidst uncertain times, and one that’s helping increase company revenue.
Silver boom
Since March, Reyter said sterling silver sales increased in revenue by 49.6%. The category has also seen 1,821% YoY growth. The brand declined to share revenue numbers for this story.
Reyter offers most items in both gold and sterling silver, with the latter costing just a fraction of the former’s price. For instance, the brand’s popular initial chain necklace in 14-karat yellow gold retails for $3,996, while its silver alternative is $996. Similarly faced with economic uncertainty and price hikes, investing in silver has become a more appealing choice for some customers.
“We have such a loyal customer, and it’s such a repeat customer that the customer already has the chain, so she can come back for the charm or the bead,” Talya Spiwak, wholesale director, said. “It’s not a $2,000 purchase—maybe it’s a $500 bead—but they keep coming back for more and more.”
Consistency is key
Due to increase in cost of materials, Reyter said she recently had to increase the prices of her gold jewelry by “no more than 15%.” Prices of sterling silver jewelry, however, have stayed the same, which she thinks has helped sustain its appeal. While gold jewelry sales make up the bulk of her revenue structure, sterling silver pieces comprise 10%–15% of overall sales.
“It speaks to the product,” Reyter said. “We treat sterling in a different way than other companies. We treat it like it’s fine jewelry. So much of our sterling—if you’re just going to get the charm or a bead—it has all diamonds in it, so it’s still that accessible price point but feels special and fine and every single day wearable.”