Bhubaneswar: Platinum’s natural white lustre and legendary grip on the world’s most precious gems has ensured its position as the precious metal of choice for fine jewellery from the moment King Louis XVI of France declared it “the only metal fit for kings”. These timeless qualities, together with the allure of a metal that is thirty times rarer than gold, continue to drive aspiration for the precious metal perceived by today’s jewellery customers as the highest value metal for jewellery. Today Platinum Guild International (PGI) releases the2019Platinum Jewellery Business Review(PJBR) revealing the aspiration for platinum among today’s consumers, and the jewellery industry’s efforts to satisfy consumers’ timeless quest for jewellery that captures the most meaningful moments, with a particular focus on men’s jewellery, young consumers and self-purchase.
The annual Platinum Jewellery Business Review surveys over 1,000manufacturers and retailers, in addition to over 1,000 consumers1to provide the world’s most comprehensive andin-depth analysis of platinum jewellery’s performance in 2018, together with a forecast for 2019, highlighting the trends that will shape the industry in each of the four key platinum jewellery markets: Japan, China, USA and India.
“This survey demonstrates how platinum continues to sitatop global consumers’ precious jewellerymetal hierarchy as the metal of highest perceived value, making it the natural choice for jewellery that holds a special place and meaning in their lives. Three of platinum jewellery’skey markets experienced growth, and all four markets witnessed expanded platinum jewellery offerings as the jewellery industry seized opportunities to go beyond platinum’s stronghold in bridal” says CEO Huw Daniel of Platinum Guild International.
“Platinum market in India has witnessed consistent growth on the back of our strong trade and marketing initiatives. Our strategic partners have reported a growth of 26% in platinum sales in 2018. This year, PGI India will continue to work with strategic partners to expand its presence in tier 2 cities to optimise the growing affluence and preference for platinum jewellery in these markets. The outlook for 2019 is strong and we expect a growth of 15 – 20%” said, Vaishali Banerjee, Managing Director India, PGI.