Jewelers expect bump in business after same-sex marriage ruling


The Supreme Court of the United States ruled on Friday that same-sex marriages are legal and recognized in all 50 states— and many members of the jewelry industry took to Facebook, Twitter, and Instagram to celebrate.

The enthusiasm wasn’t all about equal rights: Schaeffer’s Investment Research reported that Blue Nile, Signet, and Tiffany & Co. all received stock bumps following the ruling.

Based on data analysis by the Associated Press, the upcoming months will bring a burst of same-sex marriages — and related jewelry-buying — especially in states where it was previously illegal. Massachusetts had 6,100 same-sex marriages in the six months following the ruling in 2004 that deemed same-sex marriage legal.

I think we will see a huge surge in couples seeking marriage licenses,” says Rony Tennenbaum, a New York City designer who has long created same-sex wedding jewelry. “You will see a lot more weddings, a lot more engagements, and a lot more anniversaries. Same-sex marriages will be a much larger pillar of the wedding industry than ever before. It is now a niche that cannot be ignored.

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Source JCK Online