Headquarters: New York, New York

US Employees: 65

GSP Imports: Gold and silver jewelry from Indonesia, Thailand, and Turkey

GSP expiration cost us millions and put hiring and expansion plans on hold. Once it was renewed, we took over another floor in our building and hired 12 new employees.

Shlomo Ozdamar, Senior Vice President

Royal Chain is a family-owned importer and distributor of fine jewelry to retailers across the United States. Founded in 1978, it employs 65 people in New York.

GSP expiration cost Royal Chain over $2 million in new tariffs and millions more in lost sales. It could not fill positions, delayed equipment upgrades, and put expansion plans on hold.

After GSP was renewed, Royal Chain saw its sales rebound. Between increased sales and tariff refunds, Royal Chain was able to hire 12 new employees and take over an additional floor at its office in Midtown Manhattan.