How New Tariffs Will Impact The Jewelry Industry

Tariffs are likely to disrupt the fashion and beauty industries, especially small businesses that rely on global supply chains. As costs rise, margins shrink, and businesses must adapt. For us, this means focusing on ethical practices, creative innovation, and offering products that truly stand out in the marketplace. Our Director of Finance & Operations, Ruhee Rathod discusses the influence of new tariffs on our business.

The Effect On Sourcing Our Gemstones & Metals

Tariffs are likely to raise the cost of imported goods, especially for the gemstones and materials used in the jewelry industry. At Bario Neal, we already make most of our products in our Philadelphia studio or at a local manufacturer, which gives us greater control over production. However, the sourcing of gemstones and the building of our inventory are areas that will certainly be impacted. While reshoring or nearshoring manufacturing may seem like an option for many brands looking to mitigate tariff costs, our production is already based in the U.S., so the greater shift we are focusing on involves rethinking how we source gemstones and build out our inventory for clients — ensuring that we can continue to provide the custom options our customers value and support local economies around the world. For instance, even with our collections, customers always have the option to pick out the gemstone of their choosing. That may become a bit more difficult to offer now, or it may be a smaller pool of options to choose from, but we’re committed to maintaining that part of the design process.

The challenges we face are similar to those others in the industry may encounter: rising costs, managing new supplier relationships, and navigating new regulations. However, we see the opportunity to increase our supplier network, finding ethical and sustainable options across different regions. This could include exploring new sources for diamonds and gemstones from areas less impacted by tariffs, while ensuring that they meet our strict sustainability and ethical sourcing standards. Other brands focused on moving production closer to home (reshoring) or nearby (nearshoring), may see benefits in the form of better quality control, more predictable delivery timelines, and fewer shipping disruptions. 

To reduce tariff impacts and lessen the risks of future trade policy changes, we are working on expanding our network of gemstone and diamond suppliers, and exploring alternative sourcing options in places like New York, India, Kenya,  and Thailand. We're prioritizing both cost efficiency and ethical practices in this process. Some team members will also attend the Tucson Gem Show, the world’s largest gem fair, to connect with new vendors and explore potential partnerships.

Mitigating The Influence of Tariffs On Our Prices

We’re focusing on what we can control: creating high-quality, one-of-a-kind custom jewelry. By designing intergenerational pieces and reimagining heirlooms, we’ve built a loyal customer base that continues to trust and value our work. Rooted in transparency and education, we’ll maintain our commitment to explaining why our pieces remain worth the price, even if there are slight increases. Bario Neal is not, and has never been, a big box jewelry store. We are dedicated to sustainability and supporting small businesses globally.

By preserving traditional techniques like glass enameling and lost wax casting—while blending them with modern technology—we provide true customization and exceptional craftsmanship. To stay competitive, we may offer limited-time promotions to help offset the impact of price changes, keeping customers engaged. We’ll also keep a close eye on market trends, monitoring competitor pricing, and gathering regular customer feedback to meet their needs effectively. Even before the tariffs, these efforts have allowed us to maintain fair pricing without compromising on quality or creativity, and they will continue to guide our approach moving forward.

We are taking a very targeted approach to price adjustments in response to tariff impacts. By carefully evaluating our product offerings, we can determine which items to absorb tariff-related costs on and which may require slight price increases, always considering market sensitivity. As a jewelry brand working with precious metals and materials, our pricing is already influenced by fluctuations in the metals market. Our commitment to using Fairmined and recycled gold and metals also plays a role in how we navigate these changes. Additionally, we’re reviewing our production processes to find ways to improve efficiency, like reducing waste or streamlining operations. These steps help us stay adaptable and ensure we can continue to provide quality products at fair prices. However, this is a practice we've always followed. As a sustainable jewelry company, we believe that every year presents an opportunity to improve, especially in areas like waste reduction and streamlining our processes.

Unwavering Ethics

We’re committed to sustainability no matter what, and while tariffs may increase some costs, we will continue to prioritize ethical sourcing and high-quality materials. We’ve always operated under the rule that if we can’t sustainably source or trace a material, we simply will not use it. 

We are consistently advancing our sustainability efforts at Bario Neal, and hope to acquire RJC and Climate Neutral certifications in the coming year. One of our major goals is the introduction of a circular jewelry program, which will focus on minimizing waste and creating lasting value by reusing, repairing, and recycling products. 

As we look ahead, we’re continuing to strengthen our sustainability practices, diversify our supply chain, and have open, transparent conversations with our clients. The evolving trade landscape underscores the need for flexibility and resilience, and we're adapting by refining our operations and maintaining our commitment to ethical sourcing and exceptional craftsmanship. This approach ensures that we can continue delivering on our promises, no matter the global challenges we face.