Branded platinum jewellery collections are spurring industry recovery across key markets and expanding platinum’s reach in growing market segments and channels, according to Platinum Guild International (PGI).

“The value of branding is well understood and developed in other luxury categories such as fashion but lags behind in jewellery. PGI leverages consumer research and insight to develop a brand application framework to unlock these opportunities. We have been working with our partners to ensure branded platinum collections with strong storytelling, designs and new technologies meet the aspirations of our consumers,” said Huw Daniel, CEO of PGI. 

Facilitating recovery
In China, fashion-forward platinum branded collections are striking a chord with young Chinese women. 

The country ranks first among the world’s jewellery markets, but growth has shifted from Tier 1 and 2 cities to lower-tier cities. During this transition, consumption is veering towards large jewellery retail chains that are quick to carry more branded jewellery.

After a challenging 2022 that saw multiple sporadic Covid-19 outbreaks dampen traffic to manufacturing showrooms and retail stores, uncertainty remains in 2023 despite some recent signs of recovery. The introduction of premium platinum products is expected to stimulate demand among consumers and the jewellery trade in the long run. 

Branded collections such as Pt Moment^® have already been contributing to post-pandemic recovery in China. Aimed at young women who want to embrace tenacity and elegance with their own take on contemporary femininity, this branded collection offers affordable non-bridal precious jewellery options that fit their needs. 

Powered by design innovations and new technologies, the branded collection featured more than 150 SKUs in 2022 and expanded its retail network from around 50 doors in 2018 to 1,800 in 2022. Pt Moment sales grew at a compound annual growth rate of 11 per cent from 2020 to 2022, despite the Covid-19 outbreaks and pandemic-control measures.

Tapping new segments
In the US, Platinum Born presents fashion-forward options in a market previously dominated by platinum bridal jewellery.

The collection expanded platinum’s reach in relatively new distribution channels such as high-end department stores like Neiman Marcus and Saks Fifth Avenue. Unit sales doubled in 2022, with dollar sales increasing 60 per cent year on year.

PGI expects the strong growth in platinum jewellery in the US to continue in 2023, helped by platinum’s unique margin opportunity and strengthening consumer demand.

Over in India, the fastest-growing platinum market, fabrication of platinum jewellery rose 20 per cent in 2022, while partners retailers recorded 26 per cent in sales. Performing particularly well was the Men of Platinum collection, which trains its sights on the country’s 12.2 million young, affluent, urban men. 

Meanwhile, in platinum’s most mature market of Japan, the category is targeting the next generation of jewellery buyers aged 20 to 24 with the affordable and youthful collections of Platinum Woman.

Daniel said, “While our approach differs from country to country in order to meet the needs of local consumers, it is clear that branded collections are a major growth engine for the future of the platinum jewellery industry.”