Page 40 - Bullion World Issue 7 November 2021

Bullion World | Issue 07 | November 2021

The Rare Metal for the Special;

PGI on Platinum

Jewellery market of India

Men of Platinum, aimed at in 2019 with the launch of Men of
men to celebrate and mark Platinum.
meaningful milestones in their
life with platinum. We collaborate very closely with our
strategic partners across the entire
Today, platinum’s appeal has mix to deliver successful sell out for
spread beyond metros and is each collection under each brand.
present as a category across This includes design, merchandise
1500+ stores and 300+ cities. mix, marketing, and training and
It has seen growth up to 10 education, branding and visibility.
times in the last decade. Other key strategic initiatives have
Geographies like Baroda and included platinum in the gold
Cochin features in our top 10 section – an initiative aimed at
markets and almost 60% of capitalizing on consumer desire for
the traffic to our websites is platinum creating opportunities for
from beyond the key metros. upselling. The bi-metal product that
Consideration for platinum we have conceptualized is stocked
in the core segment has in the gold section and helps
been consistent at 85% and lower any barriers of entry into the
above at a pan India level category.
Ms Vaishali Banerjee
over the last 3 years. Till 2019
MD, PGI India
we were looking at an average of In terms of quality, our Quality
Kindly tell us about the Platinum + 20% Y-o-Y growth amidst our Assurance program ensures that
jewellery market in India- in strategic partners. Last year despite all platinum jewellery under the PGI
terms of current size, growth the pandemic taking on several program is rigorously monitored
rate, growth drivers businesses, we managed to do and audited for quality and purity
When Platinum Guild International tremendously well in Quarter 4 and consumers are assured of 95%
(PGI) entered India with the vision (Oct-Dec 2020) with 21% growth platinum even for gem-set jewellery.
to develop the platinum jewellery over 2019. This growth continued
market, it marked the beginning of well into the Q1 2021. In April – What is a typical profile of a
platinum’s journey in the country. May 2021, with various stages of platinum jewellery buyer?
In 2009, we introduced our first lockdown and the onset of a second Platinum consumers are the
branded segment - Platinum Days wave across the country, sales were discerning younger millennials in
of Love and tapped into the couple subdued. the age bracket of 18-40 years.
gifting segment via couple bands Within that, part of the portfolio has
as a product offering. Platinum What initiatives are taken by PGI women as the core target group –
Days of Love to date continues to in marketing platinum? Platinum Days of Love, Evara and
be our largest segment. In 2015, Our strategic efforts, aimed at part have men i.e. Men of Platinum.
we introduced our second branded creating awareness, education, By virtue of its product offering
segment - Platinum Evara, for and aspiration around platinum Platinum Days of Love being love
the women bridal and trousseau as a metal, remain a top priority. bands for couples addresses both
sub-category and expanded it into At a branded level we ensure that men and women. They belong
self-purchase last year. In 2019, we unlock newer segments, as we to the high affluence segment of
we launched another category, have done more recently with men NCCS A. Educated, connected

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