{"id":6125,"date":"2018-06-01T17:21:18","date_gmt":"2018-06-01T11:51:18","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=6125"},"modified":"2021-03-24T17:27:52","modified_gmt":"2021-03-24T11:57:52","slug":"youth-bridal-to-drive-indias-2018-platinum-jewellery-demand","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/youth-bridal-to-drive-indias-2018-platinum-jewellery-demand\/","title":{"rendered":"Youth, Bridal To Drive India\u2019s 2018 Platinum Jewellery Demand"},"content":{"rendered":"\n
\"\"<\/a>
Vaishali Banerjee, MD, PGI India<\/figcaption><\/figure><\/div>\n\n\n\n

Platinum Guild International (PGI) published the findings of its 2017 Platinum Jewellery Business Review revealing that two key trends \u2013 young consumers and bridal \u2013 are emerging to contribute to platinum demand growth in 2018. Compiled by independent platinum market experts and industry analysts, the survey reports strong consumer retail sales growth in India, US and Japan for 2017, even outperforming gold in some areas.<\/p>\n\n\n\n

\u201cWe saw above-market growth for platinum jewellery in three out of four key markets in 2017. This trend is tied to a robust global economy and historically low platinum prices, together with an increasing preference for platinum among younger consumers, which indicates growth potential in the platinum jewellery sector in 2018,\u201d said Huw Daniel, CEO of PGI.<\/p>\n\n\n\n

\u201cPlatinum growth in India for 2017 has been very encouraging. Platinum today resonates with young India. The rarity of the metal, the designs inspired by global trends and the distinct emotional positioning of platinum makes it the preferred choice of millennials. The outlook for 2018, is strong given that both Platinum Love Bands and Platinum Evara are getting embedded in our culture and the business opportunity that platinum offers to retailers is incremental and sustainable,\u201d added Vaishali Banerjee, managing director \u2013 India, PGI.<\/p>\n\n\n\n

India has become the engine of platinum jewellery growth globally. Despite continued challenges from new legislations, the industry has seen retail sales reported in platinum ounces up 21% year-on-year for the PGI programme and fabrication ounce demand growing at 34% year-on-year.<\/p>\n\n\n\n

A strong preference for platinum among young consumers is one of the strongest contributors to the growth of platinum jewellery demand in India. For young India, PGI has created a distinct positioning for platinum versus gold, tapping into modern couples\u2019 desire for jewellery that better represents the bonds of love in a modern relationship between equals. Through the Platinum Days of Love Campaign, platinum has become the metal of choice among today\u2019s young Indian consumers shaping the country\u2019s culture and fashion.<\/p>\n\n\n\n

Commenting on the millennial trend, Senco Gold & Diamonds director Suvankar Sen said, \u201cToday, a jeweller who retails platinum has a clear edge because of the millennial crowd it pulls in. Platinum holds a deeper meaning in their lives and they are very well aware about the metal. This generation wants novelty and versatility in jewellery, which platinum has in abundance to offer. We are extremely bullish on platinum jewellery growth in our country, on the back of young India.\u201d<\/p>\n\n\n\n

\"\"<\/a>
Huw Daniel, CEO, PGI<\/figcaption><\/figure><\/div>\n\n\n\n

Bridal markets around the world have become strongholds for platinum jewellery across India, China, Japan and the US. In India, the market is led by love-gifting with local organised retailers finding footholds for platinum within the gold-dominated wedding category. The introduction of a new branded segment, Platinum Evara, a modern platinum jewellery collection gifted to the bride and groom before the wedding day has carved out a distinctive niche for platinum and created a new jewellery segment for the industry.<\/p>\n\n\n\n

Commenting on the bridal trend, Pratap Kamath, managing director, Abaran, said, \u201cJewellery is an integral and inevitable part of Indian weddings. So far it was only gold that dominated this scenario. However, PGI\u2019s new branded programme is creating a new tradition with platinum. Consumers at our store are genuinely purchasing platinum to gift or welcome new members into their family. This has resulted in higher volumes and given us a real competitive edge.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Platinum Guild International (PGI) published the findings of its 2017 Platinum Jewellery Business Review revealing that two key trends \u2013 young consumers and bridal \u2013 are emerging to contribute to platinum demand growth in 2018. Compiled by independent platinum market experts and industry analysts, the survey reports strong consumer retail sales growth in India, US…<\/p>\n","protected":false},"author":1,"featured_media":6131,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,101],"tags":[],"thb-sponsors":[],"class_list":["post-6125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-platinum"],"acf":[],"yoast_head":"\nYouth, Bridal To Drive India\u2019s 2018 Platinum Jewellery Demand - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/youth-bridal-to-drive-indias-2018-platinum-jewellery-demand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Youth, Bridal To Drive India\u2019s 2018 Platinum Jewellery Demand - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Platinum Guild International (PGI) published the findings of its 2017 Platinum Jewellery Business Review revealing that two key trends \u2013 young consumers and bridal \u2013 are emerging to contribute to platinum demand growth in 2018. 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