The Platinum Advisory Council (PAC) is composed of a group of industry leaders collaborating with the Platinum Guild International (PGI®) to develop and refine strategies for China’s platinum jewellery market. Representatives from distributors and retailers, including Beijing Caibai, Luk Fook Jewellery Group, Lao Feng Xiang, Chow Tai Fook Jewellery Group, Chow Sang Sang Group and other major manufacturers such as Shenzhen Bofook Jewellery Co Ltd and Ganlu Jewellery Co Ltd, attended the meeting. PAC is an influential platform that supports the next generation of products and technical innovation in the industry.

In his opening remarks, PGI® CEO Huw Daniel, commented, “We gather together to make an important step forward for China’s platinum jewellery industry. We have seen many challenges in the platinum jewellery markets of the US, Japan, India and China over the past several months, but we've also achieved success from exploring new market segments, gaining consumer insights and innovating business models. So now we have the confidence and optimism that we can bring about new business opportunities for local retailers and manufacturers.”

In his keynote speech, Tim Schlick, chief strategy officer of PGI®, talked about PGI®'s global strategic roadmap. “Influenced by new media and distribution channels, the business model of platinum jewellery is also shifting. Globally, trends in the jewellery industry are influenced by changing consumer preferences and retail dynamics. The impact of branded jewellery, e-commerce and the omnichannel model has changed products, business models and consumer interactions.”

Pui P. Poon, managing director of PGI® China, introduced the mission of the PAC. “The council brings together industry leaders. We will combine advanced technologies with professional skills to promote the development of China's platinum jewellery market and provide guidance for future growth.” She also put forward a so-called “Acceleration and Transformation” market strategy in China. “In the future, we will focus on the 5 P's of marketing – product, price, promotion, place and people. We hope that through repeated practice, we can form a mature and viable success model and create a ripple effect in the industry to inspire greater innovation in all aspects of the platinum jewellery market,” noted Poon.

PAC and PGI® concluded that by sharing information and working together, the platinum jewellery industry can deal with challenges, understand trends and seize opportunities to sustain growth in China's evolving consumer market.