JNA July/August 2022 | 11 软文 China In 2020, platinum led the Chinese jewellery market’s post-Covid recovery over gold, but gold caught up in 2021, taking significant market share from other categories. Platinum jewellery fabrication fell by 23 per cent year on year. Sales by PGI’s partners, which account for over a third of total platinum retail sales in China, decreased by 9 per cent year on year. The decline was mitigated by multipronged strategies like highlighting the value of branded collections created through innovative technologies in compelling designs. In 2021, the quality and quantity of branded platinum collections expanded across categories, from bridal jewellery and gifts to unisex pieces, creating a ripple effect among retailers. To further tap the Gen Z market, PGI collaborated with up-and-coming fashion designers on exclusive platinum jewellery collections in new retail channels, including high-end multi-label stores that showcase PGI’s strategic focus on this growing affluent segment as a target consumer base. This year, despite weaker consumer sentiment amid continued pandemic-related disruptions, platinum jewellery will continue to strive for profitability and differentiation in this crowded market. Japan Total jewellery retail sales in Japan recovered by 17.4 per cent year on year in 2021. Platinum was the best-performing white precious metal for jewellery, with retail sales reaching 568,000 ounces, an 11.6 per cent year-on-year increase and up 0.4 per cent against 2019. Growth stemmed mainly from strong sales of asset-type and bridal jewellery, along with a continued shift towards a preference for higher-purity metals. Branded collections and consumer-segmented programmes steered by PGI bolstered the strong recovery of Japan’s platinum jewellery industry. PGI’s Platinum Woman programme introduced the metal to more younger women. Available online and in-store from four of Japan's leading jewellery brands, this branded collection features a new generation of accessibly priced platinum jewellery pieces endorsed by a celebrity brand ambassador. In 2021, the programme saw sales value increase six times, with more partners signing up and over 60 new designs launched. Platinum jewellery retail sales in 2022 are likely to enjoy a modest increase, as consumers become more comfortable visiting jewellery stores again after receiving booster shots. PGI is also committed to further developing its branded collections and other co-op programmes that further motivate Japanese retail industry leaders to commit to platinum. India India’s overall jewellery business bounced back in Q3 after the second wave of Covid-19 wiped out a key wedding season in Q2, with momentum continuing into the last quarter. The fourth quarter witnessed significant growth with a strong wedding season and a series of festivals that traditionally encourage jewellery buying. Platinum was the fastest-growing category for PGI’s strategic partners in 2021, up by 30 per cent year on year. The development of branded collections such as Platinum Days of Love, Evara and Men of Platinum has enabled platinum-branded portfolios to address the unmet needs of younger consumers in India by fuelling their aspirations. In 2022, PGI’s strategic partners are expected to maintain the strong growth momentum and see their platinum business returning to pre-pandemic levels. US The US reported outstanding retail results in 2021, with jewellery as the shining star. Within the industry, platinum jewellery had an even stronger year, delivering 15 per cent year-on-year growth in retail sales. PGI’s strategic partners reported platinum unit sales growth ranging from 28 per cent to 42 per cent, surpassing prepandemic sales. Branded collections supported the sustainable growth of the platinum jewellery market. Le Vian used platinum in its main collections, growing year-on-year dollar sales by 95 per cent and increasing SKUs at Jared’s, Macy’s and hundreds of independent retailers. Platinum Born, a platinum-only brand, expanded distribution into Neiman Marcus, while adding new products to its line. The outlook for jewellery sales in the US remains positive in 2022, with PGI and its retailers anticipating a modest but continuing level of platinum sales growth. By integrating a resonating branding strategy and applying innovative designs and technologies in product offerings on top of its inherent value, platinum provides a unique combination of rational and emotional business drivers, and presents the jewellery industry with a truly irresistible business opportunity to unlock its full potential. PlatinumDays of Love 系列产品
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