There are few public health issues in the United States where the science is so settled, the solutions so clear and the stakes so high, yet the outcome remains so unresolved. Childhood lead poisoning is one of them. Often described as a “solved problem,” lead exposure has, in reality, never been fully resolved. It has rather been pushed out of sight, relegated to communities with the least political power and treated as an acceptable background risk of aging infrastructure.

The data tell a story of both progress and failure. Nationally, childhood blood lead levels have declined dramatically since the 1970s, largely due to the removal of lead from gasoline, paint, and plumbing. But decline is not elimination. According to the CDC’s Childhood Blood Lead Surveillance system, which processes roughly three million blood lead tests annually, about 2.5 percent of U.S. children ages one to five still have blood lead levels at or above 3.5 micrograms per deciliter, the CDC’s current reference value. That translates to roughly half a million children every year whose exposure is already associated with measurable harm. Even those figures likely understate the true burden, given uneven testing, inconsistent reporting and persistent surveillance gaps.

“Problems that disproportionately impact people without power are often deemed ‘solved’ or at least ‘under control’ by those in power,” says Peggy Shepard, co-founder and executive director of WE ACT for Environmental Justice. “This is certainly the case with childhood lead poisoning.” 

A public health issue we know how to solve

What makes lead poisoning particularly damning as a policy failure is that it is, by definition, preventable. Unlike many complex health crises, lead exposure does not depend on uncertain causation or emerging science. As Dr. Debra Houry, former chief medical officer at the CDC and now principal at DH Leadership and Strategy Solutions, tells Observer: “Childhood lead exposure is the epitome of a public health issue. We can detect it in the environment, prevent exposure and intervene to prevent the health consequences.”

That clarity is precisely what makes continued inaction so difficult to justify. Lead can be detected in paint, water, soil and consumer products. Exposure pathways are well understood. Interventions—remediation, enforcement and early screening—are proven. What remains missing is coordination across agencies and sustained political will to treat prevention as essential infrastructure.

When policy exists but protection does not

Federal agencies, including the CDC, EPA and U.S. Department of Housing and Urban Development, all share responsibility for preventing childhood lead exposure. Yet the disconnect between policy intent and lived reality remains profound. On paper, the regulatory framework exists. In practice, enforcement is inconsistent and accountability is weak.

In New York State, the contradiction is stark. “New York State leads the nation in cases of children with elevated blood lead levels,” Shepard says. “Twelve percent of the children born in the state in 2019—28,820 children—have been diagnosed with elevated blood lead levels. Childhood lead poisoning rates for communities across New York State are five to six times higher than those in Flint, Michigan at the peak of its water crisis.” 

The Flint water crisis is often framed as an anomaly, but it was more accurately a warning, an illustration of what happens when aging infrastructure, weakened oversight and political indifference converge. As Shepard notes, the deeper failure lies not in the absence of laws, but in their neglect.

“In New York City, we helped pass Local Law 1 of 2004, which was supposed to eradicate childhood lead poisoning by 2010,” she says. “But the city has fined more street food vendors for violations than landlords for lead violations. Without adequate enforcement, including the funding to support it, landlords know they can ignore the law with impunity.”

The science-policy gap has lifelong consequences

In 2021, the CDC lowered its blood lead reference value to 3.5 micrograms per deciliter, acknowledging what decades of research had already shown: no level of lead exposure is safe. Yet legal standards and funding mechanisms often still rely on thresholds that lag behind science.

“The gap between science and policy means that children continue to slip through the cracks and continue to be poisoned,” says Elizabeth Reyes, toxics policy campaigns coordinator at WE ACT. “Preventable harm is tolerated, and help is often delayed or denied. Thresholds that limit legal and financial liability function as a shield from responsibility.” 

What is often missing from the conversation is the long arc of harm. Lead exposure does not end in childhood. Research has linked even low-level exposure to reduced IQ, shortened attention spans, behavioral challenges, increased risk of cardiovascular disease, kidney damage and premature death later in life. Some analyses estimate that a significant share of early cardiovascular deaths in the United States may be attributable to historical lead exposure, a legacy effect that continues to compound over generations.

Infrastructure is where prevention becomes real

Lead poisoning persists in part because it is too often treated as a medical issue rather than an infrastructure one. Lead-based paint remains common in pre-1978 housing. Millions of lead service lines still deliver drinking water. Contaminated soil lingers near highways, airports and former industrial sites. Imported consumer products, from spices to ceramics, introduce newer and less predictable exposure pathways.

The $15 billion allocated for lead service line replacement under the Bipartisan Infrastructure Law marked an important shift, recognizing that safe water is a foundational public good. But pipes alone will not solve the problem. Paint hazards, housing code enforcement, consumer product surveillance and testing infrastructure remain fragmented and underfunded. Testing, in particular, places an undue burden on families navigating complex systems.

“A truly community-centered approach would shift responsibility from families to better local systems,” Shepard says. “There would be more health outreach in communities with higher rates of lead hazards, more immediate remediation and information delivered in languages and ways people can actually understand.” 

Evidence-based nonprofit models show what’s possible

This is where nonprofit interventions demonstrate their greatest value, not as substitutes for government, but as proof that coordinated, data-driven approaches can work at scale.

According to Lara Crampe, regional director, Asia at Pure Earth, the organization’s nonprofit model is built around measurable impact. “Pure Earth’s nonprofit model uses an evidence-based, five-phase approach to mitigate lead pollution. This approach was informed by years of experience implementing over 50 projects in multiple countries.” 

That rigor has drawn independent validation. “GiveWell evaluated Pure Earth’s projects, saying, ‘We think Pure Earth is the most promising giving opportunity we have found to address lead exposure,’” Crampe notes. “An additional independent evaluation from the Happier Lives Institute found our work in Ghana to be the most cost-effective for improving well-being, hundreds of times better at increasing happiness per dollar than other charities.” 

From 2020 to 2024, Pure Earth conducted 12,250 blood-lead tests, assessed 349 polluted sites and tested more than 6,000 consumer products for heavy-metal contamination. This data helps pinpoint exposure sources and track improvements over time. “We collect blood-lead levels, exposure source analysis data and consumer product testing data,” Crampe says, “which offer critical insights on where exposure is highest and demonstrate improvements in communities over time.” 

The health stakes, she emphasizes, are profound. “Children under the age of five are at the greatest risk of suffering lifelong neurological, cognitive and physical damage, and even death, from lead poisoning. Lead impacts neurological development, resulting in IQ loss for children affected by lead poisoning.” 

The science is unequivocal. “According to the World Health Organization, there is no known safe level of lead exposure. Even low-level exposure is associated with reduced IQ scores, shortened attention spans and potentially violent behavior later in life.” 

The question is no longer whether we can end lead poisoning

Globally, UNICEF estimates that one in three children worldwide, roughly 800 million children, have elevated blood lead levels, underscoring that lead exposure is not a relic of the past, but an ongoing global failure. At the same time, the worldwide elimination of leaded gasoline in 2021 demonstrates that coordinated policy action can succeed at scale.

In the United States, the path forward is narrower, but clearer. Ending childhood lead poisoning will require sustained funding, aggressive enforcement, modernized surveillance and a reframing of lead exposure as a core infrastructure and environmental justice issue, rather than a historical footnote. “We already know what needs to happen,” Reyes says. “Increased awareness in the most vulnerable communities, paired with better-funded enforcement, can prevent exposure before a child is harmed.” 

The science is settled. The tools exist. And as Dr. Houry’s framing makes unmistakable, lead exposure remains the rare public health crisis that is fully preventable, if we choose to act.

Gold has captivated humanity for millennia, symbolizing wealth, love and power. Yet, behind its shimmer lies a dark environmental legacy. Across more than 70 countries, over 10 to 15 million artisanal and small-scale miners, including an estimated 4 to 5 million women and children, rely on mercury to extract gold from ore, according to the United Nations Environment Programme (UNEP). This method, known as amalgamation, involves mixing mercury with crushed ore to form an alloy that’s later heated, releasing mercury vapor and leaving behind gold. The process is simple and effective, but the consequences are devastating. 

The World Health Organization (WHO) classifies mercury as one of the top ten chemicals of major public health concern. Once released into the environment, it transforms into methylmercury, a potent neurotoxin that contaminates rivers and fish, accumulating up the food chain. According to UNEP’s Global Mercury Assessment, artisanal and small-scale gold mining (ASGM) is the largest source of mercury pollution worldwide, contributing roughly 38 percent of total human-caused mercury emissions each year.

Designer Delphine Leymarie, co-founder of Reciprocity Jewels, underscored the scale: “The artisanal and small-scale gold sector releases around 2,200 tonnes of mercury every year—nearly 37 percent of human-generated emissions—yet it produces only about 12 to 15 percent of the world’s primary gold. The ripple effect is enormous.”

In some regions, contamination has reached alarming levels. A 2025 study by Pure Earth in Ghana found that soil samples near artisanal mining communities contained mercury concentrations exceeding global safety thresholds by more than 100 times. In Peru’s Madre de Dios region, the Artisanal Gold Council estimates that 181 tons of mercury are released annually. 

“Mercury does not stay where it is used—it travels,” said France Armando Cabanillas Vásquez, local coordinator for Pure Earth in Madre de Dios. “It evaporates, moves through the soil, and settles in rivers, affecting the entire Amazon ecosystem. Fish ingest contaminated sediments, larger fish eat those smaller fish, and local communities—many of them Indigenous—consume these fish as their primary food source. They may live far from mining areas, but are still the most affected.”

Leymarie described mercury as “lethal in its subtlety—a silent killer that can take years to reveal its irreversible effects.” She added, “In many camps, miners burn mercury amalgam over open flames, often inside their homes. Every breath carries a neurotoxin that lingers in their bodies and in ours, because contamination travels on currents and winds.”

The global framework for change

Recognizing the urgent need to address mercury pollution, the international community adopted the Minamata Convention on Mercury, which took effect in 2017. The treaty, named after the Japanese city devastated by mercury poisoning in the mid-20th century, requires member states to develop National Action Plans (NAPs) to reduce and, where possible, eliminate mercury use in ASGM.

As of 2025, more than 60 countries have submitted or are developing these plans, which focus on promoting mercury-free techniques, formalizing the artisanal sector and improving working conditions for miners. Yet, progress remains uneven. Many small-scale miners operate informally, without access to training or capital, and in remote areas beyond the reach of regulation.

Alfonso Rodríguez, technical director at Pure Earth explained that Pure Earth’s work focuses on regions such as Madre de Dios (Peru), Antioquia and Chocó (Colombia), Ashanti (Ghana), and Java Island (Indonesia), areas where mercury contamination is deeply entrenched and tied to economic survival. “Mercury use in gold mining isn’t a localized problem; it’s a global one,” he said. “Illegal trade and quick-profit gold production make it a transnational issue that no single country can solve in isolation.”

Echoing this, Dani Cutler, a responsible sourcing advocate and marketing manager for Hoover & Strong, noted, “Mercury is easily accessible, extremely portable and inexpensive. It’s being used for gold mining throughout the Amazon rainforest, where it leaches into waterways—starting with the Amazon River and expanding into our oceans. Not only is mercury carried with the current, it’s also ingested by small fish and becomes more potent as it travels up the food chain.”

Cabanillas added that the Amazon’s biodiversity makes the crisis uniquely global. “The wealth of the Amazon belongs to everyone—it is the heritage of the entire world,” he said. “When mercury pollutes its waters and kills its fish, it doesn’t only harm Peruvians or Brazilians. It’s a global loss, for humanity and for nature.”

Mercury-free mining: a viable alternative

Despite these challenges, progress is accelerating. Innovative technologies and international partnerships are demonstrating that mercury-free gold mining is not only feasible but economically advantageous. Pure Earth, through its Mined Without Mercury program, has trained over 1,500 miners in safer extraction methods that increase recovery rates by up to 30 percent compared to traditional mercury-based processes. These methods include:

• Gravity separation, which isolates gold using water and density differences.
• Flotation, which separates minerals through bubbles and surfactants.
• The borax method, which replaces mercury with borax as a flux to lower melting points and recover gold efficiently.

Similarly, in 2025, the World Gold Council announced the expansion of mercury-free processing plants in partnership with local cooperatives. The UNEP Global Mercury Partnership and planetGOLD, a Global Environment Facility-funded initiative, are implementing large-scale projects in countries like Peru, Indonesia and Mongolia to transition thousands of miners toward sustainable methods.

Desirée Binternagel, CEO of Fairever, explained that these alternatives already exist but remain financially out of reach for most miners. “A single shaking table setup can cost around 10,000 U.S. dollars—and that’s an impossible sum for someone living from one gold sale to the next,” she said. “The clean technologies are there, but access is the real issue. That’s where fair supply chains come in. When responsible buyers commit to purchasing mercury-free gold, miners finally have the confidence and means to make that investment.”

Cabanillas confirmed this on the ground in Peru. “In Madre de Dios, we’ve seen shaking tables prove to be one of the best cost-benefit options,” he explained. “But it’s important to note that those using these mercury-free methods are formal miners—those working legally. Illegal miners, who operate without permits, often follow the worst environmental practices. For change to spread, we need stronger incentives and local markets that reward clean gold.”

Cutler added that vibrating table and sluice systems remain practical for small-scale miners: “They’ve been around for over a century, cost anywhere from a few hundred to a few thousand dollars, and can recover gold safely,” she said, stressing that training and fair market access are essential.

Leymarie added that her own collaborations show the impact. “In Peru, our Reciprocity Jewels × Pure Earth × AMATAF partnership helped miners transition from mercury to shaking-table extraction, reforest degraded land and gain Fairmined certification. It’s proof that ethical gold can move from concept to reality—from the Amazon riverbank to a finished jewel.”.

These innovations demonstrate that sustainability and profitability can align. In addition to health and environmental benefits, mercury-free mining often increases gold yield and income stability for miners.

The luxury industry’s role in the transition

The jewelry and luxury sectors have become pivotal players in the fight to eliminate mercury from gold mining. As consumers demand greater transparency and traceability, brands are rethinking their sourcing strategies. 

Certification programs such as Fairmined, Fairtrade Gold and RJC’s Chain of Custody Standard ensure that gold is extracted under safe, environmentally responsible conditions. These systems not only verify the absence of mercury use but also create financial incentives for miners who adopt clean practices.

This November, those efforts will take center stage at the Pure Earth Pure Gold Auction in New York City. The event will feature actress and activist Nathalie Kelley, who has designed a one-of-a-kind necklace crafted in 18k mercury-free Fairmined gold from AMATAF, a women-led cooperative of artisanal miners in Madre de Dios. Of Quechua descent, Kelley has emerged as one of the most visible advocates connecting sustainability with cultural identity. Her piece, designed in collaboration with Peruvian jeweler Andrea José, features a jaguar pendant adorned with an Umba sapphire and recycled yellow sapphires, symbolizing the Amazonian sunrise. The jaguar, a sacred emblem of the rainforest, represents nature’s strength and resilience.

“Jewelry tells a story, and I wanted this piece to tell one of hope,” Kelley said. “Gold doesn’t have to come at the expense of poisoned rivers and lost forests. By supporting miners who are leading the way with mercury-free practices, we can transform the industry—and give people a chance to wear jewelry that reflects their values.”

The 2025 auction, open through November 3, marks the first time that all participating pieces are made entirely from 100 percent mercury-free, Fairmined-certified gold supplied by Pure Earth’s partner miners. Funds raised will support training and reforestation projects in Peru, Ghana and Indonesia, including the planting of 10,000 native trees in previously mined land.

Barriers to progress

Despite growing momentum, the road to mercury elimination remains complex. The Global Mercury Partnership identifies five major barriers: informality, cost, enforcement, education and market linkage. Many artisanal miners work outside formal structures, lack financing for new equipment, and face limited access to technical support.

Mercury itself remains cheap and widely available. Despite international trade restrictions, illegal mercury trafficking continues. A 2025 Guardian report estimated that 140,000 hectares of the Peruvian Amazon have been deforested due to illegal gold mining, much of it mercury-dependent. The Week similarly reported in 2025 that illicit mercury flows from Asia and Latin America continue to “poison the Amazon,” undermining global efforts to curb the trade.

“Eliminating mercury from gold mining isn’t a question of technology—it’s a question of access and incentives,” said Binternagel. “The clean alternatives already exist, but most small-scale miners simply can’t afford them. What’s needed is global cooperation that connects funding with fair markets so miners who make the switch know their mercury-free gold will be valued and bought.”

Cabanillas agreed, urging governments to take a more active role. “Peru has ratified the Minamata Convention but has not yet implemented real incentives for clean technologies,” he said. “If miners could sell mercury-free gold locally at a higher price, we’d see much faster adoption. Right now, many miners become discouraged because there’s no economic reward for doing the right thing.”

Addressing these barriers requires coordinated global action: regulating supply chains, expanding access to mercury-free technology and ensuring that miners who make the transition can access fair markets for their gold.

Toward a mercury-free Future

The shift toward mercury-free gold mining represents a rare convergence of environmental science, human rights and luxury culture. In the next five years, initiatives like planetGOLD aim to formalize tens of thousands of miners and reduce mercury emissions by over 500 tons, according to UNEP projections. Technological innovations, from remote sensing to blockchain-based traceability, will make it easier to monitor compliance and reward ethical production.

Rodríguez believes the next phase of success will be measured “country by country, case by case,” through specific regulations and practical examples. He points to Pure Earth’s collaborations in Colombia, Brazil and Peru as signs that momentum is building. “We’ve moved from awareness to action,” he said. “What’s important now is sustained support—for miners, for communities, and for local governments—to make mercury-free gold the standard, not the exception.”

Binternagel envisions a similar outcome: “We’ll know we’ve succeeded when clean gold becomes the economic norm rather than the ethical exception,” she said. “In my vision of the future, no one will even need to ask where their gold comes from, because it will be standard that it’s mined responsibly, by people working in safe conditions and with respect for the environment.”

Cabanillas offered a hopeful reminder from Madre de Dios: “We already have enough negative stories about mercury. Now it’s time to share stories of progress—miners who are reforesting their land, cleaning their rivers and choosing to work without mercury. Consumers can help by sharing these stories and supporting responsible gold. Change is possible, and there is still time.

For the jewelry industry and its collectors, this transformation offers a powerful opportunity for storytelling rooted in transparency and impact. When a gold pendant or wedding band carries the assurance that it was mined without mercury, it becomes advocacy.

There are few foods more synonymous with New York City than the bagel—a simple ring of boiled and baked dough that somehow embodies the spirit of the city itself. Equal parts humble and iconic, the bagel has risen from its immigrant origins on the Lower East Side to become a global culinary symbol. Today, bagels are fueling a thriving cultural and economic ecosystem that stretches from Brooklyn bakeries to international markets, generating billions in annual revenue while preserving the heritage of craftsmanship that first defined the New York bagel.

From immigrant bread to city symbol

The story of the bagel is the story of New York. Brought to the United States in the late 19th century by Eastern European Jewish immigrants, the beygel found a new home in the tenements and bakeries of Manhattan’s Lower East Side. Early bagel bakers, organized under the Bagel Bakers’ Local 338 union, were fiercely protective of their craft, hand-rolling, boiling and baking every piece with care. By the early 1900s, New York had nearly 70 bagel bakeries, and the bread had become a staple of working-class life. By the mid-20th century, the bagel had evolved into an American breakfast essential. Industrial innovations like the rotary oven and the Lender brothers’ mass-produced frozen bagels made it a national phenomenon. Today’s artisan revival—driven by hand-rolled, malt-boiled, crusty bagels—reclaims the authenticity that first made the New York bagel famous.

“Bagels are a New York staple,” says Jesse Spellman, co-owner of Utopia Bagels in Whitestone, Queens. “They always will be. Keeping our recipes and traditions consistent for over 40 years gives people a taste of the New York culture of the past.” Spellman’s family has been hand-rolling, kettle-boiling and baking bagels in a 1947 carousel oven since 1981, and their commitment to heritage has made Utopia one of the city’s most celebrated institutions

The bagel economy

New York remains the undisputed bagel capital of the world, home to hundreds of specialty bagel shops across the five boroughs. Iconic institutions like Ess-a-Bagel and H&H Bagels have evolved from family-owned shops to major producers and franchised brands. Ess-a-Bagel recently opened a 7,500-square-foot manufacturing facility in Harlem, while H&H plans 70 new franchise locations across the country. 

“The economics of the bagel business is the same as the rest of the restaurant industry,” says Craig Hutchinson, chef and owner of Olmo Bagels in New Haven, Connecticut. “But the difference is how willing you are to be transparent with your guests and your team. We stress the importance of making guests feel seen and special. That free kindness helps our guests justify the rising costs of living in 2025 and beyond.” For Hutchinson, community and hospitality are part of the recipe. “We embraced the community and used the bagel as our hospitality vehicle. We all fell in love with the fast-paced bagel industry and never looked back.”

That sentiment is echoed by Jimmy Stathakis, founder and CEO of Bagel Market, who has reimagined the traditional shop through modern design and digital innovation. “The bagel is a cornerstone of New York life: fast, familiar and full of character. It reflects the city’s diversity and resilience. At Bagel Market, we see ourselves as part of that cultural fabric, offering a space where heritage meets contemporary taste.” He adds, “Margins remain challenging in the food service industry, particularly in New York City, but strong brand positioning and operational discipline create room for growth. We focus on scalable systems, efficient supply chains and consistent quality.”

In Maine, Jeremy and Marina Kratzer, owners of Dutchman’s Wood Fired Bagels, bring a small-town perspective to the same story. “Being as smart as you can on labor, and really managing the food costs, are keys to success in today’s ever-changing industry,” Jeremy explains. “Building relationships with your purveyors is a great way to ensure that you have someone to trust and look out for you when you need things.”

Across the Pacific, Talia and Kelly Bongolan-Schwartz, owners of Tali’s Bagels & Schmear in Hawaii, share a similar struggle, but their story is a testament to dedication. “Hand-rolling bagels is very labor-intensive,” says Tali. “It’s always difficult to balance that with pricing, payroll and profit—especially living in Hawaii, where all ingredients are imported and rent is at a premium.” Despite these challenges, they’ve built a loyal following: “About 90 percent of our customers are regulars.”

Adding to the evolving economics, Orly Gottesman of Modern Bread & Bagel underscores how growth comes from multiple lanes: “Margins in retail food are generally tight… Growth potential exists if you find ways to diversify revenue. We supplement our retail business with direct-to-consumer shipping, retail mixes and catering.” 

From the Pacific Northwest, Brittany Erwin of B’s Bagels & Butters points to where revenue concentrates: “In Washington there is definitely growth potential, but not in the form of a traditional bagel shop… any growth is in the form of sandwiches or catering.” Erwin adds, “In Washington there has been a bagel explosion in the last 3 years, and the majority of shops are leaning away from NY style.  Most of them are leaning towards the sourdough bread craze and serving airy, hard crusty bagels.”

Nationally, the U.S. bakery sector worth over $60 billion with bagels maintaining rapid growth. The global bagel market reached $5.58 billion in 2024 and is projected to hit $7.35 billion by 2030, growing at nearly 5 percent annually. Europe and Asia have embraced the bagel as both a fashionable food and a cultural export. 

In Denmark, Emily Bridges, founder of Bagel Belly in Copenhagen, is part of that international wave. “For Americans living in Copenhagen, bagels are an everyday food; they’ll grab one on the way to work or stock up for the week. For Danes, it’s more of a special and unique treat, and something fun to enjoy on weekends or share with friends” she says. “For many of my customers, my bagel is the first bagel they’ve ever tried, which is always exciting and a big responsibility!”

The bagel as cultural currency

More than just a breakfast, the bagel carries deep symbolic weight: of identity, comfort and connection. Declared New York’s official state bread in 2008, it remains a culinary shorthand for the city’s diversity and drive. “NY bagels are iconic because of their long-standing history in a busy, busy world,” says Hutchinson. “We realized that the real secret wasn’t just the bagel itself, it was dedication to community, to early hours and to always baking fresh. Those are the shops that become staples.”

Stathakis adds, “New York bagels have a texture, flavor and history that are unmatched. The secret lies not only in the city’s water but more importantly in its culture: the precision, the pace and the pride of generations who perfected this craft.”

For Yero Rudzinskas, owner of Baltik’s Bagel in Richmond, Virginia, the story has gone national: “The bagel has outgrown the five boroughs and occupies a special place in the imagination of Americans broadly. Of course, the bagel is one of the most recognizable New York culinary exports, but at this point, everyone has the right to expect a freshly baked bagel close enough to enjoy every day of the week.”

From Copenhagen to Honolulu, the New York bagel’s DNA travels well, even as it adapts. “People are hungry for bagels all over the world,” says Bridges. “A bagel transforms any time it’s made in a new location: ingredients, taste, even the malt syrup, but the soul stays the same. The soul of a New York bagel is rooted in tradition but never stops evolving.”

Modern Bread & Bagel’s Gottesman frames that tradition through inclusion. “Bagels are one of NYC’s most culture-centric foods… contributing to that identity meant making our version open to everyone, those avoiding gluten and those who just want a delicious, authentic bagel, so people don’t feel like they’re giving anything up.” 

And in Washington State, Erwin sees the culture expanding via social buzz and community ritual. “The bagel boom has spread to TikTok which means bagels are trendy for all ages,” she says, noting that what began as a treat has become a daily staple for many regulars. 

The new wave: festivals, global influence and social impact

The modern bagel is no longer confined to the five boroughs. It’s a global connector. The rise of BagelFest, founded by Sam Silverman in 2019, has elevated the humble bagel into a worldwide cultural event. Hosted annually at Citi Field, with this year’s event on November 16, the festival attracts thousands of attendees and dozens of competing bakeries, each vying for the title of “Best Bagel.”

Silverman’s mission extends beyond the event itself. Through BagelUp, he and his team are teaching bagel-making to new audiences and using food as a bridge between cultures in New York, one of the most diverse cities in the world. BagelUp offers immersive hands-on classes where locals and international tourists alike can learn the art of crafting authentic New York bagels. These classes draw aspiring bakers from around the world eager to experience the city’s culinary traditions firsthand.

BagelFest partners are spreading that same spirit of connection globally. Among the most inspiring collaborations is between BagelUp exhibitor Olmo Bagels, which has partnered with Oído, a nonprofit culinary school in Mexico’s Yucatán Peninsula led by Chef Gabe Erales, the winner of season 18 of Top Chef. Together, they’re building cross-cultural culinary programs that celebrate craftsmanship and community, from New York kitchens to Mexico’s rural classrooms.

“Many of these kids have never had the means to travel outside their community,” Erales explains, “but through food they can connect to the world. When they see the cultural tie between bagels and New York, it’s like a window into another culture. Earlier this year, we took a group of students to Oaxaca to visit a friend’s cooking school. It was their first time on a plane, and for them, it was like going to Disneyland.”

The taste of tomorrow

As New York continues to evolve, so does its most famous food. The next generation of bakers is blending tradition with innovation: experimenting with sourdough starters, regional grains and globally inspired toppings while honoring the heritage that made the bagel a symbol of community.

Gottesman sees the future in “continued diversification: more dietary-inclusive options, more direct-to-consumer retail products and technology integration for ordering and fulfillment,” alongside neighborhood shops that “combine excellent product with smart operations.” Erwin is blunt about the operational direction: “More sandwiches… in this economy we need to be building bigger check averages,” she says, while hoping quality won’t slip as the category scales.

“I think the bagel business is heading in a strong direction,” says Spellman. “It’s one of the few foods that everyone, across ages and backgrounds, continues to love. It’s hard on the outside, soft on the inside—like a true New Yorker”.

From the bustling counters of Queens to the teaching kitchens of Quintana Roo, the bagel continues to unite people across borders. Whether in New York, New Haven or Mexico, it remains more than bread. It is a bridge between cultures, a testament to resilience and a rising symbol of how simple food can inspire extraordinary connection.

For decades, U.S. economic development has leaned heavily on one-off grants, subsidies and incentive packages. While these tools inject capital, they rarely provide the long-term scaffolding small businesses need to thrive. Cohort-based programs like Goldman Sachs 10,000 Small Businesses (10KSB) are redefining the landscape, trading transactional aid for transformational, community-driven growth models that emphasize peer support, continuity and applied learning. 

How cohort models foster success 

Unlike one-off grants, cohort programs embed entrepreneurs in structured peer-learning environments. This distinction matters. Peer-to-peer education and mentorship can build accountability and accelerate real-world application of business strategies. Rather than offering capital in isolation, these programs combine coursework, advising and alumni networks to create durable growth engines. The outcomes stand out. According to the 10KSB’s program 2024 Impact Report, 67 percent of participants increased revenues within six months, and 44 percent created new jobs, results that far outpace the national survival growth and survival rates for small businesses. The U.S. Small Business Administration notes that only about half of all small businesses survive beyond five years.

“The cohort-based model creates a learning environment that fosters peer support, accountability and dynamic exchange of ideas,” said Sandra Mejia, alumni manager at the 10KSB New York program site hosted at LaGuardia Community College. “The cohort structure promotes sustained growth by combining education, business advising and a supportive peer community.” For Dr. Sheetal Desai, CEO of Dynamic Physical Therapy & Rehab Services, the shared environment was pivotal: “Being in a room of entrepreneurs from diverse industries who shared similar challenges helped me feel less isolated. The collaborative environment sparked both innovation and confidence. It shifted my mindset from local operator to visionary leader.” 

Others echoed the same theme. Mary Piven, CEO of Clean2Clean, a woman-owned commercial cleaning company, said, “I developed close connections that I know will last well beyond graduation. It wasn’t just about business development—it was about personal transformation.” Alice Kim, founder of PerfectDD, a fuller-bust inclusive fashion brand, noted that 14 weeks of structured in-person work allowed “me to step out of my day-to-day and see my business through fresh eyes.” Fernanda Daudt, founder of Volta Atelier, which employs migrant artisan women in Brazil to create upcycled leather bags, highlighted how it sharpened her vision: “Before 10KSB, I didn’t think I fully realized what I had accomplished. The program gave me the tools to see my company’s value and a path to improve organizational gaps while aiming much higher than I imagined.”

Sam Silverman, founder of BagelUp, summed up the difference: “Outside these walls, a lot of the fellow small business owners that I interact with on a regular basis are either competitors or clients, so it’s difficult to completely lift the veil. In this environment, we can be totally open, honest, and vulnerable. The relationships built in this cohort feel like a long-term support network I can lean on well beyond when the program ends.”

Survival rates and capital access, the broader context

The U.S. Bureau of Labor Statistics reports that only 25 percent of small businesses survive 15 years or more. Access to capital remains one of the top barriers: minority-owned companies, for instance, are significantly less likely to receive bank loans, and when they do, they receive smaller amounts at higher interest rates. Cohort-based models help level this asymmetry by pairing entrepreneurs with pathways to funding. 10KSB alumni have accessed more than $1 billion in capital since the program’s inception. This is sticky or stable capital, deployed with guidance, informed by strategy and supported by peer networks that help ensure its impact lasts.

The broader training ecosystem underscores why this model resonates. The U.S. business coaching sector, which underpins the methodology of cohort-based programs like 10KSB, has grown to $20 billion, with more than 75,000 enterprises. Meanwhile, business certification and IT schools, a parallel training ecosystem, expanded at a 7.6 percent CAGR between 2020 and 2025, driven by demand for upskilling in fields such as A.I. and cybersecurity. Both industries point to a growing preference for structured learning and networks over unstructured financial aid alone.

Entrepreneurs credit these environments with changing the trajectory of their businesses. Sasha Millstein, founder of Aunt Ethel’s Pot Pies, built a data-driven roadmap that cut costs by over 35 percent: “It shifted my mindset from ‘we need more sales to survive’ to ‘we can engineer profitability and scale strategically.’” Deb Flashenberg, founder of the Prenatal Yoga Center, noted that the program “reinvigorated” her at a moment of burnout: “I got excited again to see what changes I could make, not just to revenue but to the whole culture of my company.” And Yasiris Ortiz, founder of Spin & Learn, a Bronx-based youth development nonprofit integrating table tennis with academics, emphasized leadership lessons: “Scaling isn’t just about numbers—it’s about people, values and building a strong culture. That shifted the way I see growth.”

Why traditional models fall short

Traditional economic development strategies—tax abatements, municipal grants, isolated accelerators—often fail for one reason: they don’t provide continuity. Once funds are spent, entrepreneurs are left to navigate systemic barriers alone. Fragmented, competitive coaching and training markets face high churn without embedded communities.

By contrast, cohort-based designs sustain momentum through layered support, combining education, networks and capital access. Cathy Hobbs, Emmy Award-winning TV host and CEO of Cathy Hobbs Design Recipes, a leading home staging firm, described her experience as “almost like a mini MBA,” adding: “The 10KSB program has taught me that truly no dream is too big. In many ways, I am just getting started!” Andrew Ingkavet, founder of the Musicolor Method, contrasted it with other initiatives he’d tried. “This program was different. It is comprehensive, strategic and offers a truly holistic approach to building a successful, sustainable business. It’s not about turning you into something you’re not, it’s about helping you grow into the leader your business needs.” 

Other participants noted how the structure unlocked scalability. Shabbir Arif, owner of Signarama Forest Hills, said it reframed his vision “from incremental growth to strategic expansion.” Lorenzo Graziano, CEO of Jewel Precision, described the experience as foundational: “This is the gold standard. The detail and dedication the program takes with each cohort member is life-changing.” Segun Olaniyi, CEO of Priority Group Services, which provides staffing and home care solutions, pointed to “The financials and growth planning sprints forced discipline: margin math by line of business, contract-by-contract scorecards, and weekly operating rhythms. It reframed us from hustling contracts to productizing our contracting capability.”

City-level shifts and the stakes ahead

At the city level, the implications are clear. Small businesses accounted for 55 percent of total job creation between 2013 and 2023, according to the U.S. Bureau of Labor Statistics. Yet metro areas with uneven access to training and financing see higher closure rates, deepening local inequality. Cohort-based programs operate as micro-clusters of resilience, seeding not just individual growth, but citywide economic spillovers.

The difference is visible: 10KSB alumni businesses report revenue growth rates outpacing the national average for small firms, and 63 percent of graduates have hired additional staff, directly countering local job losses. As Millstein put it, “The program gave me the tools and confidence to scale with intention—so our growth is now strategic and margin-focused, not just reactive.”

A blueprint for the future

As a scholar of Cohort 45, I experienced the program as both participant and observer. With a background in art connoisseurship, I was struck by how much the 10KSB program resembled curating a collection: each entrepreneur was selected with intention, not by chance. The group was comprised of business owners at an inflection point, each with the potential to scale, and the program’s advisors worked to draw out and support that potential. 

The cohort was diverse in industry and approach, yet what stood out was the common thread of persistence and commitment to growth. The program’s modular structure reinforced this: beyond financials and strategy, it consistently pushed participants to step back, assess their role as founders and refine how they worked on their businesses rather than just in them. 

For many participants, the transformation goes beyond strategy or balance sheets. Rena Paul, founder of The Paul Firm, reflected: “I came to the program thinking I would learn the ‘hard skills,’ which we did, but from the beginning, there was a focus on the founder. This course has taken me from being an owner-operator of a business to learning how to work on the business and not in the business.”

The impact was both practical and lasting. The mix of structured learning and peer accountability helped clarify growth opportunities while surfacing blind spots. The experience highlighted how intentional design—in the form of curriculum, advising and peer exchange—creates the conditions for sustained business growth. 

As policymakers and business leaders debate how to revitalize local economies, cohort-based models provide a clear lesson: survival and growth are not guaranteed by capital alone. They require skills, networks and sustained peer accountability. Cohort models—through their mix of education, funding access and alumni collaboration—offer a blueprint for scaling businesses and, in the process, reimagining economic development itself. 

What emerges are not just stronger businesses but stronger leaders, equipped to build cultures, chart visions and inspire those who will carry their companies forward. 

In a luxury landscape where “sustainability” has no single legal or universal definition, younger buyers are creating their own. For Millennials and Gen Z,  sustainability often means extending the life cycle of existing goods, purchasing pre-owned pieces rather than commissioning new ones. In jewelry, this ethos is fueling a rising global demand for antique and vintage designs, where heritage craftsmanship aligns with a desire for a lighter environmental footprint.

A clearer path in an ambiguous sustainability landscape

The jewelry sector, like the broader luxury market, operates in a gray area when it comes to environmental claims. Regulatory frameworks such as the U.S. Federal Trade Commission’s Green Guides still leave significant room for interpretation. In this vacuum, younger consumers are turning toward goods with transparent origins and measurable impact reduction. Antique and vintage jewelry inherently sidesteps the environmental toll of new mining, manufacturing and large-scale production, offering a tangible alternative to consumers wary of greenwashing. 

As jewelry designer Elaine Chong of Elaine Chong Designs points out, “One misconception is that buying antique jewelry is risky. But if you do your due diligence and buy from a reputable seller, it’s a safe and rewarding investment. I always encourage clients to research and ask questions; that confidence benefits everyone.”

The market’s momentum is supported by broader luxury trends. The personal luxury goods sector, which includes jewelry, fashion, leather goods and watches, expanded at a compound annual growth rate (CAGR) of five percent from 2019 to 2023, according to The State of Fashion: Luxury 2025 by the Business of Fashion and McKinsey & Company—growth often fueled by price hikes rather than volume. As the industry enters a slower growth phase (projected between one and three percent annually between 2024 and 2025), categories with enduring desirability and sustainable positioning, such as jewelry, are expected to outperform. Analysts expect luxury jewelry sales to grow by four to six percent annually between 2025 and 2027, driven in part by a younger, more diverse client base.

Defining the market: antique, vintage and estate

In global trade, clear terminology matters. “Antique” jewelry is generally defined as over 100 years old, “vintage” as 20 to 99 years old and “estate” as any pre-owned piece, regardless of age. These distinctions influence not only appraisal values but also the storytelling potential that drives emotional connection. For a generation seeking goods that carry both beauty and history, these definitions provide a framework for authenticity in a market saturated with mass production.

Generational values meet heritage craftsmanship

Millennials and Gen Z approach luxury differently from their predecessors. While previous generations often associated luxury with brand prestige and newness, today’s younger buyers seek individual expression, ethical sourcing and lasting quality. Antique and vintage jewelry offers precisely that: pieces made in eras when craftsmanship was slower, techniques were more artisanal and materials were often of exceptional quality. 

Sandy Jacobs of Scott Bassoff, Sandy Jacobs Antiques, notes, “Older pieces are better made and more likely to not be mass produced. My customers like unique pieces which others won’t have. Real antique pieces from the 1700s to 1940s are made by artisans who often had to apprentice for years before being allowed to make their own items. This was without electricity, power tools and working only in daylight. And these early pieces are so well crafted.”

That heritage value is more than technical; it’s emotional. Dorian Filip at DSF Antique Jewelry captures the sentiment: “There’s a palpable sense of history in every hand-engraved detail or age-worn patina. These pieces were made in a time when jewelry was not just decorative, but symbolic—infused with artistic, cultural and emotional value. In a world of fast fashion and fleeting trends, vintage jewelry offers something enduring and emotionally rich.” 

For Lourdes Winnick of Winnick Appraisal Services, younger buyers are also savvy strategists. “Vintage often offers better value, and younger buyers know that. They are informed and know the gold and diamond market better than older generations. They don’t buy jewelry thinking it will depreciate. They are savvy buyers that understand market trends.”

Andrea Friedenson of La Plus Charmante observes a shift in purchasing dynamics: “Most of my clients are Millennial and Gen Z women buying jewelry for themselves. They put fine jewelry in the ‘style essential’ category and look for pieces that match their signature style and which are made of materials that will last forever. That’s a big change from my older buyers, who are mostly men who put fine jewelry in the ‘luxury gift for women’ category.”

The role of digital culture and social commerce

Social media has become a powerful global driver of the pre-owned jewelry movement. Platforms like TikTok, Instagram and YouTube have transformed jewelry education and history into accessible, highly visual storytelling. 

Sophie Aarons of Sophie Jane Jewels has seen the shift firsthand: “We’ve noticed a definite uptick in younger buyers discovering jewelry on socials like Instagram and TikTok, and wanting to see the jewelry in person. The in-person shopping experience allows for a much deeper connection, where younger buyers can speak directly with dealers, seek information, try on jewelry and purchase as well. It’s been a great experience for both dealers and shoppers.”

This appetite for direct engagement is also fueling attendance at curated buying events, where reputable estate dealers can offer trusted guidance and provenance insight. Shows such as the NYC Jewelry and Object Show have become particularly attractive to Millennials and Gen Z, who value the opportunity to meet experts face-to-face, ask questions and build relationships while viewing rare pieces up close.

Shari Cohen, founder of Seal & Scribe and creator of modern heirloom jewels incorporating vintage and antique components, has observed a clear shift in buyer preferences: “I see younger buyers more interested in chains and charms, and pieces that are less of an initial investment, which makes complete sense because at their age I too was not investing in expensive jewelry. I think a lot of people build up their collections over both time and as they mature and realize what styles, eras and pieces speak to their soul.” 

For Dana Kiyomura of Keyamour, says social platforms have expanded the playing field. “Social media has definitely boosted antique jewelry interest. Instagram is filled with users who sell jewelry, post their personal collections, post what they love to look at, post what they design. It’s a huge marketplace of sharing desires and wants, and telling a story. I’ve seen quite a few new sellers enter the antique jewelry marketplace over the last 10 years because it is now a much easier arena to join. Dealers are more accessible through social media, resellers can buy much more simply and create a platform to sell with just an iPhone and some creativity.” 

This democratization of access extends globally. Ishmael Khan, Ishy Antiques, also noted the impact: “I have noticed a change post-COVID. With the advent of TikTok, more and more younger collectors are entering the market and trying to find pieces that express their individual tastes and steer clear of trends and designer names.”

From local dealers to global demand

This shift reaches far beyond the confines of heritage jewelry districts in New York, London or Paris. Growth in online sales, virtual consultations and secure international shipping has opened global markets. In the U.S. alone, the jewelry store industry is expected to reach an estimated $71.9 billion in revenue in 2025, while the online jewelry and watch market grew to $14.3 billion in 2024, according to IBISWorld. In Europe and Asia, cross-border transactions through fairs, marketplaces and digital storefronts are increasingly common. Markets such as Japan, the Middle East and India—predicted to experience some of the fastest luxury growth over the next several years—are emerging as promising territories for antique and vintage expansion, according to The State of Fashion: Luxury 2025.

Economic and cultural drivers

The appeal of pre-owned jewelry is both ethical and economic. Many antique and vintage pieces offer superior value compared to new items, with their prices reflecting artistry and intrinsic materials rather than contemporary branding and marketing overheads. Joseph Denaburg, Levy’s Fine Jewelry, points out, “There are a lot of people who want to go the vintage/antique route because they view it as a more sustainable option. Yes, the materials were at one point underground, but they were mined many decades before and recycled, and recycling what we already have is more sustainable than producing new materials to create something new.” 

Gold Charmer’s Dilan Ergench adds another draw: “I believe the markups on antique and vintage jewelry tend to be much lower compared to brand new pieces. With new jewelry, you’re often paying for the cost of design, labor, marketing and retail overheads, whereas with antique pieces, much of that is already absorbed. That price difference is definitely a draw for many customers.”

This variety also means there is something for everyone. “Every style is in trend right now; it all depends on the person,” Denaburg adds. There is also an emotional pull. Ergench adds, “There’s something deeply romantic about owning a piece with history—jewelry that was once cherished by someone else. Often these items are scarce or even one of a kind, and you can’t always be sure how many others like it still exist. That uniqueness is incredibly alluring.”

The connection can even begin with restoration. As Winnick advises, “Start with what speaks to you. Visit local jewelry stores and antique malls, and see what catches your eye. If you find a piece you love that’s missing a stone or needs repair, buy it! A good jeweler can bring it back to life. If it’s well-made and meaningful to you, you won’t regret the purchase.”

Cohen underscores another reason collectors are drawn in: “I think that people who love and appreciate antique jewelry are also lovers of history, mystery and stories… each piece tells a multi-layered story that represents a historic era, as well as the intention of the piece.” 

Zuleika Gerrish of Parkin & Gerrish highlights evolving tastes, “Colored stones deserve a mention; the younger generation is favoring colored stones, especially pastel colors, over traditional gems like diamonds, rubies, sapphires and emeralds. Aquamarines, pink topaz and blue zircons, as well as the much lesser-known gemstones, are certainly gaining attention.”

Positioning in the future of luxury

As the luxury industry recalibrates in response to slower growth, the resilience of antique and vintage jewelry stands out. It aligns with evolving consumer priorities, heritage, individuality and environmental mindfulness, while sidestepping the risks of overproduction and shifting trend cycles. Millennials and Gen Z are poised to inherit an estimated $84 trillion globally by 2045, according to Cerulli Associates, with an additional $90 trillion in assets expected to be transferred in the United States alone between 2022 and 2045, per the firm’s US High Net Worth and Ultra High Net Worth Markets 2024. Their values, shaped by climate awareness, digital culture and a preference for authenticity, will define the next chapter of the market.

As Gerrish observes, “True luxury, much like old money, doesn’t make loud statements. There’s increasing interest in the ‘old money’ aesthetic… it communicates quietly through quality, craftsmanship and restraint. This is a key reason why younger buyers are drawn to antique jewelry: it’s unique, rich in history and conveys a great deal without words.”

In an age searching for renewed cultural relevance, antique and vintage jewelry offers a blueprint for sustainable luxury that is both timeless and forward-looking. These jewels carry not just the sparkle of gemstones, but the layered stories of the hands that made them and the lives they’ve adorned, offering the kind of authenticity and artistry that no modern production line can replicate.

Jewelry has long symbolized personal meaning, heritage and timeless beauty. Today, amid rising trade tensions and new tariff enforcement, it also reflects global economic policy. Behind the joy of a diamond engagement ring or the elegance of a gold chain lies a complex web of cross-border trade, material sourcing and political influence—one that’s now facing an unprecedented shake-up. During recent jewelry trade shows in Las Vegas, I spoke with designers, brand leaders and international executives. All acknowledged the same truth: tariffs are changing the game. Quietly so far, but significantly.

A product of many hands and many borders

Most consumers don’t realize just how complex international jewelry really is. A single piece may include a Sri Lankan sapphire, cut in Bangkok, set in India and sold in New York. That journey matters, especially under U.S. trade law. According to U.S. Customs, a product’s country of origin is determined by the concept of “substantial transformation.” 

As defined by the International Trade Administration: “Substantial transformation means that the good underwent a fundamental change in form, appearance, nature or character. This fundamental change normally occurs as a result of processing or manufacturing in the country claiming origin. Additionally, this change adds to the good’s value at an amount or percentage that is significant, compared to the value which the good (or its components or materials) had when exported from the country where it was first made or grown.” 

This legal origin determines whether import tariffs apply. Those tariffs can drastically impact price, margin, and production strategy for industries like jewelry, where materials and craftsmanship are sourced globally.

The triple threat: tariffs, gold prices and currency shifts

With every new tariff announcement, one thing is almost guaranteed: the price of gold surges. Historically seen as a safe-haven investment, gold becomes even more attractive in times of market volatility. This has consequences for the jewelry industry, especially when paired with rising labor and shipping costs.

For designer Lisa Nikfarjam of Lisa Nik, the effects have been significant. “The ripple effect caused a triple whammy: Tariff + Gold Price + Exchange Rate,” she said during the Couture Show. “Even with a 10 percent tariff, when combined with record-high gold prices and unfavorable currency exchange rates, the cost of producing a gold item jumped 40 to 45 percent almost overnight.” 

Some suppliers rushed to ship ahead of the new enforcement. Others didn’t. “We were left with an increased cost added to existing orders that had already been sold at a certain price,” Nik said. Rather than compromising quality or creativity, she has focused on tight inventory management, domestic production and transparent client communications.

Lisa Koenigsberg, president of Initiatives in Art and Culture, who founded the annual Gold and Diamond Conference, echoed these concerns from a broader perspective. “There is an atmosphere of deep concern in the jewelry industry, which is considering what actions to take in the face of constantly changing signals regarding tariffs, including measures that the average consumer is likely unaware of,” she noted. “Some consumers are already feeling the pain of increased prices that were raised even as early as June in anticipation of heightened tariffs to be imposed on the now Aug 1 deadline.” 

Koenigsberg added that while luxury brands catering to the highest-end clientele may weather price hikes more easily, a broad swathe of fine and fashion jewelry could see delayed purchases and reduced accessibility. “The experience for the average consumer will be negatively impacted, with the repercussions being felt throughout the industry which ultimately sets the prices.”

Sara Yood, president, CEO and general counsel at the Jewelers Vigilance Committee (JVC), explained how this legal burden is shouldered domestically. “Tariffs are paid by the U.S. importer, not the foreign business that exported the goods or the countries from where the goods were exported,” she noted. “Even a 10 percent tariff on foreign goods adds up extremely quickly at the value scale of jewelry.” 

For everyday buyers, this can mean higher prices or fewer options in stores as businesses recalibrate. “Virtually all of the components that go into jewelry—precious metal, diamonds and colored gemstones—originate outside the U.S. Finished jewelry and watches will also face a duty upon import,” Yood added. “That means you may see pricing increases or changes in assortment as businesses adjust to this new paradigm.”

Luxury in a time of adjustment

According to Bain & Company’s July 2025 report, the personal luxury goods market is expected to grow between just 1 and 4 percent this year, following two years of double-digit growth. The slowdown has hit the U.S. and European markets hardest, with consumers demonstrating more cautious, selective purchasing behavior in response to economic pressures. However, the fundamentals of the luxury industry remain strong, with younger consumers and high-net-worth individuals still contributing to long-term growth. Jewelry, a category known for its emotional and investment value, continues to stand resilient, even if cautiously so.

This economic tension is echoed in broader retail trends. According to the National Retail Federation’s July 2025 Monthly Economic Review, inflation remains a top concern for both retailers and consumers. Although inflation rates have eased compared to last year, pricing pressure persists due to continued supply chain volatility, fluctuating commodity prices and global instability. The NRF notes that consumer spending is still strong, but increasingly selective. Shoppers are focusing more on essentials and delaying discretionary purchases. For the jewelry industry, this means that while the desire for beauty and significance remains, price sensitivity plays a bigger role in when and how people buy.

Vin Kothari, president of Precious Colors Inc., shared that while tariffs have created uncertainty, his company sees this moment as an opportunity to double down on domestic trust. “The tariffs have been an ongoing concern for our business; the uncertainty has impacted our customers’ sentiments as there is no clarity on how to proceed,” he said during the AGTA GemFair at the JCK Show in Las Vegas. 

“Regardless, we always maintain a long-term and optimistic view in our organization. We also realize that the tariffs could provide us with a great opportunity to remain a leading source of fine gemstones and jewelry in the U.S., as our customers look to buy more domestically.”

He emphasized that while costs have increased, the company has deliberately chosen not to pass those costs directly to customers. “There is already a lot of sticker shock due to rising gemstone prices,” Kothari noted. “As a manufacturer with vertical integration capabilities, we continue to absorb the pricing impact ourselves as opposed to charging our customers more. We don’t want to compromise our customers’ loyalties.”

A personal reflection on value and luxury

As a gemologist and jewelry professional, I understand the instinct to pause before making luxury purchases in uncertain times. Yet if I’m going to spend, I want that money to hold meaning and value. Gold is not just adornment. It is security. If I’m going to invest in something during a volatile economy, I’d rather it be something wearable that brings me joy and holds intrinsic worth. That said, not everyone can afford to make these choices. With rising living costs, many families are weighing what to buy now and what to hold back on. For special occasions or meaningful milestones, jewelry remains, in my opinion, a practical luxury—one that can last generations. I’m still betting on the jewelry industry, both emotionally and economically. Yet each household will need to make its own choices. Luxury may still be part of our lives, but perhaps more carefully considered.

Rooted in trust and shaped by time

Lynn Phyo, general manager of B.P. De Silva Jewellers, shared that uncertainty has tested the brand’s relationships with U.S. retail partners. “The learning curve has been steep. Understandably, U.S. partners have been cautious when working with overseas brands until there’s more predictability,” he noted at Couture. Their response has been rooted in reassurance. “Our business is built on strong partnerships, and this will be one of those defining times,” he explained. “We’re on a fact-finding mission and showing how we’ll get through this together.” With complete control of the brand’s design, sourcing and manufacturing in-house, B.P. De Silva has held its pricing steady. “We continue to pass value directly to our clients,” Phyo added. “As our founder said, ‘We must be able to price it at the value we are willing to pay ourselves.’ That still holds true, 153 years later.”

Adaptation without compromise

At Goshwara, founder and designer Sweta Jain adjusted quickly. “We introduced hollow chains in response to the increased cost of gold,” she shared, “but we’ve continued offering solid chains for those who request them.” 

Despite challenges, Jain reported one of the brand’s strongest shows ever, with a surge in demand for pink opals, malachite and bold inlay work. “We’re serving two types of customers,” she observed. “One looking for something trendy and bold, the other drawn to timeless, refined pieces. Luckily, we’ve found success balancing both.” 

Meanwhile, Laura Gallon, of Laura Gallon Joaillerie, has leaned on her dual production model to weather the storm. “U.S. orders are fulfilled through our American workshop, while European orders go to France. It helps control costs and delivery times,” she explained. “We’re holding pricing steady for now, but we’re prepared to adapt if needed.” For Andreas Bentele of Fortis, the iconic Swiss watchmaker, tariff pressures are real, but quality remains non-negotiable. “Tariffs affect our U.S. pricing, but we will never let trade policy dictate our craftsmanship,” he said. “We’re adjusting strategy carefully, focusing on sustainability and long-term customer value.”

Jewelry in a time of transition

Jewelry is more than just decoration. It is a form of storytelling, craftsmanship, investment and memory. In 2025, it is also a mirror reflecting the state of global trade and shifting values. With tariffs rising and gold prices climbing, brands are under pressure, but so far, they’ve responded with resilience, transparency and creativity. 

As a jewelry shopper, you may notice price changes or differences in what designs are available in stores. You’re not imagining it. The ripple effect of tariffs, rising material costs and international logistics challenges is real, and it trickles down to the final price tag. That doesn’t mean you should stop shopping, but it does mean you should shop smarter. Start by asking questions. Where was this piece made? Are the materials ethically sourced? Is the gold recycled or newly mined? Does the brand manufacture domestically or abroad? 

Even something as simple as reading a brand’s “About” page or asking for third-party certification can help you make a more informed, potentially more meaningful, purchase. The best jewelry companies welcome these questions because they take pride in their sourcing, artistry and values that guide their work. If you’re planning a milestone purchase, whether an engagement ring, future heirloom bracelet or everyday necklace, consider buying sooner rather than later. As Sara Yood of the Jewelers Vigilance Committee noted, tariff rates may rise again, and delays in global trade can create bottlenecks. Acting now may not only save you money, but also ensure that you secure a piece you truly love.

Remember, jewelry has been a long-term investment for generations. Unlike fast fashion, a thoughtfully chosen piece can last for generations. The goal isn’t to buy more. It is to buy better. So, if you’re going to spend, then spend where it counts. Choose pieces that reflect your values, your story and your hopes for the future. Jewelry may be facing a time of economic uncertainty, but it remains, now more than ever, one of the most personal, enduring and expressive purchases you can make.

Diamonds have captured hearts for centuries, not just for their brilliance, but for what they represent: love, strength, endurance and commitment. Whether mined from the earth or a lab, a diamond’s journey into a piece of jewelry that marks a proposal, a milestone or a personal triumph is nothing short of magical. Their brilliance is a testament to human emotion and storytelling. Yet today, how we source and produce diamonds is becoming as important as their beauty. As the values of consumers shift toward transparency, ethics and accountability, the diamond industry is in the midst of one of its most important transformations. 

In an age of values-driven shopping, the conversation around sustainability is more relevant than ever. Both mined and lab-grown diamonds (LGDs) are now assessed not just on the 4Cs (color, cut, clarity and carat) but on how ethically they’re made. But what does sustainability really mean here? While there are no simple answers, there is hope in the complexity. The more we learn, the more empowered we become to make informed choices, without losing the romance of this extraordinary gem. Both forms of diamonds have a role to play in a modern market increasingly shaped by consciousness and care.

Ultimately undefined

Many consumers don’t realize that terms like “sustainable” and “responsible sourcing” have no legal definition in the U.S. These phrases carry emotional and ethical weight, but without regulation, their meanings can vary widely across companies. 

“Marketers are encouraged not to make broad, unqualified, wide-ranging eco-friendly claims,” says Sara Yood, CEO and General Counsel at the Jewelers Vigilance Committee (JVC). “They’re difficult to prove, and consumers ascribe significant meaning to them.” Yood cites the FTC’s Green Guides, which aim to prevent misleading environmental claims. Vague terms like “eco-friendly” or “green” still often dominate marketing without being backed by verifiable standards.

This ambiguity leaves room for confusion. “It’s like comparing apples to oranges,” Yood explains. “What matters most is how each process uses resources and engages with communities.” In an industry built on trust, especially when jewelry is tied to life’s most intimate and meaningful moments, the language around sustainability must be rooted in clarity, supported by action and communicated with transparency. Only then can these words carry the weight they deserve.

What sustainability could mean

True sustainability in the diamond industry must extend beyond environmental statistics. It’s about respecting people, land and the future—creating value without exploitation. This means ensuring fair wages, safe working conditions, minimal environmental impact and tangible investments in the communities connected to the diamond supply chain. When executed well, a sustainable diamond doesn’t just become a symbol of love—it becomes part of a global story about shared prosperity and mindful consumption.

Responsible sourcing builds upon these principles by focusing on traceability and accountability. Whether a diamond is lab-grown or mined, the key lies in being able to answer important questions: Where did this stone come from? How was it produced? Who benefited—or suffered—as a result? These answers are complex, but increasingly, companies on both sides of the industry are embracing transparency, refining their processes and inviting scrutiny. Their efforts as pioneers deserve recognition. And consumers, empowered with better information, can make purchases that align with their principles without compromising on beauty. 

Lab-grown diamonds: greener by default?

Lab-grown diamonds have become increasingly popular, in part due to their affordability and perception as a more ethical alternative to mined diamonds. Produced in controlled environments rather than extracted from the earth, LGDs are widely regarded as sustainable. Yet these assumptions can be misleading. 

“The biggest misconception is that lab-grown diamonds are automatically sustainable simply because they’re not mined,” says jewelry designer and ethical sourcing advocate Delphine Leymarie. “Most are grown in factories powered by fossil fuels, often coal. If the energy source isn’t clean, the carbon footprint can exceed that of some mined diamonds.”

Indeed, a 2019 Trucost (part of S&P Global) study found that emissions from lab-grown diamond production can reach up to 511 kg CO₂ per carat. “Lab-grown diamonds require between 250 and 750 kWh per carat,” Leymarie explains. These energy-intensive processes lose their sustainable edge without renewable energy or verified emissions management. However, change is underway. 

A growing number of lab-grown diamond producers are transitioning to renewable energy, improving transparency and seeking certification from independent third parties. These steps matter. They show that sustainability in lab-grown diamonds, while not guaranteed, is possible when companies are intentional and consumers ask the right questions.

The nuance of mined diamonds

Mining has long been a lightning rod in sustainability debates, but reality is rarely black and white. Some of the most significant community development programs in the jewelry industry have emerged from well-regulated mining operations. In some countries, major mining companies have built schools, hospitals, clean water systems and roads. These benefits extend far beyond the mine itself. “Not all large-scale mining is bad, and not all small-scale mining is good,” Yood points out. “It’s about how the operations are conducted.”

Meanwhile, artisanal and small-scale miners (who make up a significant portion of the global mining population) are often the most vulnerable. Yet many are embracing change. Around the world, these miners are forming cooperatives, adopting mercury-free practices (for gold extraction) and participating in certified fair-trade programs. For millions, mining isn’t a luxury. It’s a livelihood. Done responsibly, mining can uplift entire communities. But removing it without alternatives can cause immense hardship. A sustainable future must include both environmental and economic well-being. The goal isn’t to eliminate mining, but to make it safer, fairer and more supportive for those involved.

A matter of perspective and certification

Third-party certification offers a reliable guidepost for consumers navigating this complex terrain. One of the most comprehensive frameworks is the SCS-007 Sustainability Rated Diamond Standard developed by SCS Global Services. “No diamond can claim complete sustainability,” says Kat Weymouth, Director, Diamond & Jewelry Services at SCS. All production consumes some nonrenewable resources. What matters is progress and transparency.

The SCS-007 standard evaluates diamonds across five pillars: traceable origin, ethical stewardship, sustainable production, net-zero carbon goals and investment in local communities. Certification requires thorough audits, documentation and clear communication guidelines. Brands must earn the right to make sustainability claims, and those that do can offer consumers peace of mind. In a world where marketing often outruns accountability, verified certification can restore trust and reward genuine effort.

Greenwashing and the danger of simplicity

In the rush to appeal to conscious consumers, both mined and lab-grown diamond brands have occasionally fallen into the trap of oversimplification. Marketing language can be seductive; words like “ethical” and “conflict-free” evoke a sense of responsibility and care. When these terms are left undefined or unverified, they risk becoming hollow. “The marketing often outpaces the accountability,” warns Leymarie. “Phrases like ‘eco-friendly’ or ‘ethical’ are used without defining what they mean or verifying them. It creates confusion for consumers and undermines the work of those doing it right.”

This ambiguity matters because sustainability is more than a buzzword. It is a promise. Consumers are increasingly demanding transparency, but they can only make informed decisions if they are given honest, detailed information. “Ask brands for specifics,” urges Yood. “Where was the diamond grown or mined? What energy was used? Was the carbon footprint verified?” Companies that are genuinely committed to sustainability should not shy away from these questions. They should welcome them as an opportunity to differentiate themselves through integrity and accountability. In this evolving landscape, clarity is not just helpful. It is essential.

Everything has a cost, and also a purpose

One of the most important realizations in the sustainability conversation is that virtually everything we use and enjoy has a cost. From smartphones and electric vehicles to solar panels and clothing, most of our modern conveniences depend on resources that are either mined or farmed. Diamonds are no exception. Even industries praised for their environmental contributions often rely on extractive processes. Electric vehicles, for instance, require batteries made with mined lithium and rare earth elements. Similarly, solar energy infrastructure depends on mined materials to function.

That doesn’t mean we should abandon our efforts to do better. It means we should apply the same critical lens across industries and focus on making choices that reduce harm and promote long-term value. “Sustainability is not a checklist. It’s a spectrum,” says Yood. “It’s not about perfection—it’s about transparency and continuous improvement.” The diamond industry, like many others, must be evaluated not by its ability to avoid impact altogether, but by its commitment to evolve, adapt and create systems that serve both people and the planet.

Enduring wonder 

As the conversation around ethics and sustainability deepens, it’s worth remembering why we fell in love with diamonds in the first place. At their finest, diamonds are breathtaking. Gem-quality diamonds—like those used in engagement rings and heirloom jewelry—are rare. Despite widespread myths that diamonds are common, only a small fraction of rough stones meet the standards for fine jewelry. From a gemological standpoint, diamonds are remarkable. They are the hardest known natural substance, capable of enduring generations of wear. They have a singular ability to refract and disperse light into brilliant rainbows, casting emotional resonance as much as visual splendor. They symbolize memory, love, triumph and permanence. Their appeal is as much about emotion as aesthetics.

Today, more people than ever before can enjoy this symbolism and beauty. Lab-grown diamonds offer a path to ownership that is more accessible for many consumers, without sacrificing visual or structural integrity. Responsibly sourced mined diamonds, on the other hand, connect wearers to Earth’s ancient story and to the communities who help bring these treasures to light. Each diamond, regardless of origin, holds value. Each has a story worth telling. Each deserves to be celebrated.

No perfect stone, only informed choices

In the end, the most sustainable diamond is not the one that promises perfection, but the one chosen with care, understanding and intention. Whether lab-grown or mined, a diamond should come with transparency: how it was made, who it impacted and what values it reflects. 

“There is no one ‘correct’ answer about which product you should purchase,” says Yood. “You’re looking for the right product for your values.” Leymarie echoes this sentiment. “We need more honesty, more humility and storytelling that reflects the full picture—not just what sells.” Informed consumers have more power than ever before. By asking questions, doing their research and supporting brands that prioritize transparency and ethics, they help shape the future of the diamond industry. Ultimately, diamonds are about joy, whether they sparkle on a hand, commemorate a milestone or are passed lovingly through generations. When chosen thoughtfully, their radiance shines far beyond the surface.