PGI INDIA Forays into Men’s Platinum Jewellery

Vaishali Banerjee

Hyderabad: Platinum Guild International – India (PGI) recently concluded the 4th edition of their annual business forum Platinum Buyer Seller Meet (BSM) in Hyderabad. A platinum exclusive event, the only such event in the industry which gives the Indian retailers and manufacturers an extensive exposure to the category, and a platform to discuss and nurture fresh business ideas with platinum.

Debuting into a new category, PGI India announced its foray into men’s platinum jewellery with its strategic brand programme – “Men of Platinum” making BSM 2019 a milestone year!

“Men of Platinum has been conceptualized after intense and in-depth consumer research and in market testing. PGI India had tested the men’s jewellery category opportunity with its key strategic partners to measure its potential and saw immense success. “All the learning over two years has been taken on board to scale it up and really unlock the true potential”, said Vaishali Banerjee, Managing Director, Platinum Guild International – India.“

“This year BSM was very special to us. Our strategy for the industry has focused on creating a incremental and profitable business opportunity for the industry with platinum. We started a decade back with the national roll out of Platinum days of love. And, every year since then, the category has seen significant growth. Our new category is only going to accelerate this growth further. The response from the industry on Men of Platinum has been phenomenal. Our strategic consumer launch plan has left our trade partners excited and extremely positive for the upcoming season. This is indeed going to be a game changer for the market!” she added.

On the launch of the new category, “Huw Daniel, CEO – Platinum Guild International, said, “PGI’s global vision is “to ensure that Platinum is at the heart of love, life and business”. We are well on our way to achieving this vision in India, where the young demographic opportunity has enabled us to position platinum as the choice of the new generation, and the demand is growing annually. PGI’s strategy of emotionally branded segments such as Platinum Days Of Love and Evara, talks to this young consumer’s need for meaningful and relevant jewellery pieces, thus, creating a more embedded and resilient demand. Platinum’s strategic opportunity for the industry can only increase with the launch of “Men of Platinum”.

On attending his first Platinum Buyer Seller Meet Benny Oeyen, Executive Head of Market Development, Anglo American said “BSM is such an interesting format and it’s encouraging to see the large participation from the industry. Platinum jewellery accounts for close to 1/3rd of platinum demand for Anglo and it’s important to ensure platinum stays top of mind for consumers. PGI has established very strong brands; Evara and Platinum Days of Love in India. Strong brands are the foundation for building a successful business in the future. The India success story of platinum is a result of excellent cooperation between the industry partners and PGI India”.

Seen as the most focused business platform, Platinum Buyer Meet by PGI India has evolved into one of the key events in the jewellery industry. From having just 40 retailers participate in the meet 4 years back to a whopping 100 retailers this year and more than 10 key manufacturers, the Platinum Buyer Seller Meet 2019 has carved a niche for itself as an exclusive ‘platinum only’ event. This year, the manufacturers at the event, showcased a diverse portfolio of over 6000 pieces that included a range of best sellers and new developments in core categories like Platinum Love Bands, Platinum Evara and Men’s platinum jewellery.

The three day event was attended by India’s top 110 jewellery retailers from across the country with close to 300+ people. The launch evening also celebrated and felicitated key retailers and their staff who contributed exceptionally to the sales of platinum jewellery during the Season of Love campaign. Season of Love is one of the biggest retail activation campaign by PGI India in the jewellery industry. This year the campaign saw participation from 1206 stores across 271 cities all India. The 2019 edition was celebrated across all leading platinum jewellery retailers across India, from May 17 to June 16, 2019 and registered retail sales growth of 40%.