Gaetano Cavalieri: We need to protect the long-term health of our industry

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

23 march 2020

Sierra Leone mulls setting up entity to buy diamonds from artisanal miners

Sierra Leone will revise its Mines and Minerals Act that will, among other issues, pave way for the establishment of a State entity that can buy diamonds from artisanal miners, an official has said. The National Minerals Agency of Sierra Leone director-general...

16 march 2020

David Block, CEO of Sarine Technologies believes that AI will play a bigger role in the industry in the next few years

Armed with an MBA degree from the Kellogg-Recanati School of Business, and a Bachelor's degree in Computer Science from the Tel Aviv-Jaffo Academic College in Israel, David Block is the present CEO of Sarine Technologies, a worldwide leader in the...

10 march 2020

Botswana wants to fully participate in research and development led by De Beers

Although the government of Botswana has refused to review its latest demands from the ongoing negotiations for a new sales and marketing deal with De Beers, it has indicated its desire to fully participate in research and development led by the diamond...

02 march 2020

High-tech trend is most promising for industries using diamonds

Synthesis Technology is a leading diamond producer in Russia. The company produces carbon single crystals - lab-grown diamonds and single-crystal wafers. The diamonds completely identical to natural ones are ‘grown’ at the laboratory using advanced HPHT...

25 february 2020

Young Indians embrace platinum as a symbol of modern love and self-expression

21 february 2020

While traditionally a market for gold jewellery, India has developed a strong appetite for platinum over the past decade. Introduced to this country in the early 21st century by Platinum Guild International (PGI), demand for platinum jewellery experienced a Compound Annual Growth Rate of 8% between 2013 and 2018, making it the fastest-growing platinum market globally. 

Image credit: sarakgraves (Pixabay)

“Platinum is now firmly established in India, and the jewellery industry can expect strong growth in coming years, as platinum becomes further embedded into the life of India’s young consumers,” says Huw Daniel, CEO of Platinum Guild International.
Youth currency is a key influence of future demand in the fastest-growing market for platinum jewellery. India’s large demographic of younger consumers is a key driver for the rapid growth for platinum jewellery. Campaigns touting its rarity and value ensure that it represents status for highly affluent consumers, as well as offering beauty and adornment in the eyes of the young modern Indian woman.
Men’s jewellery is a strong new territory for incremental growth. For young men in India, platinum is associated with style and modernity, a more refined and discerning statement of achievement and success, and a way to improve their self-image. In September 2019, PGI launched “Men of Platinum”, a new brand aimed at 6 million men in India. PGI’s ambition to grow the retail distribution network for platinum jewellery is anticipated to lead to many years of growth ahead.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished