Has Innovation Sailed Away?

There are a number of economic reasons for the recent shift of many American manufacturing companies to non-American ownership, including lower margins in the retail segment and the general shift of manufacturing to other countries. Many non-American owners are vertically integrated and can realize profit at any level of jewelry production and sales. In some instances, they own retail outlets. This vertical integration reduces the need for profit at every level. Traditionally, the line between manufacturers and retailers was fairly rigid, as was the line between manufacturers and casters. That also applied to vendors of diamonds and gemstones. For each segment of the industry to maintain profitability, individual players had to compete through strong innovation. America has long been a center for innovation, and innovation in the jewelry industry has long been a staple among the leader

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