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Growth in four key platinum markets

17-6-2019

 

Platinum Guild International’s (PGI’s) Platinum Jewellery Business Review (PJBR) surveys over 1,000 jewellery industry players and more than 1,000 consumers to analyse the platinum jewellery’s performance in 2018 and forecast for 2019 trends in four crucial platinum jewellery markets: Japan, China, the United States and India.

 

India continues to be the fastest growing platinum market on the back of robust marketing strategies. Vaishali Banerjee, Managing Director India, PGI said their strategic partners have reported a 26 percent growth in platinum sales last year. This year, PGI India wishes to expand its presence in tier two and three cities and a growth of 15 to 20 percent. PGI sees men’s jewellery as a “hugely untapped” market.

 

Japan has the highest per capita consumption of platinum jewellery with the sixth consecutive year of growth, thanks to the 4.5 percent rise by weight in bridal consumption of platinum. For both the United States and China, platinum jewellery sales improved by nine and seven percent yoy respectively despite the trade war.

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