(PRESS RELEASE) NEW YORK — In an effort to fulfill their mission to develop demand for and build an enduring commitment to platinum in jewelry, Platinum Guild International USA is announcing the creation of an incomparable grant program open to the jewelry industry in the United States. The new program is designed to turbo-charge the growth in platinum jewelry business specifically within the USA by inspiring manufacturers, designers, and retailers to make platinum an important focus of their business.
Eligibility requirements for applicants include a US-based or US-focused business, a knowledge of designing and manufacturing in platinum, and willingness to make a long-term commitment to designing, manufacturing and/or selling platinum products.
Relying upon consumer research conducted by 360 Market Reach which was shared with the industry late last year, PGI USA is assured that consumers have placed increased value on symbolic items, such as engagement rings and wedding bands. This holds true across generations, thus increasing the sales potential of consumer segments ranging from the coveted Gen Zers to Baby Boomers.
“Prior to the pandemic, the platinum jewelry sector of the industry had grown consistently for the past seven years, increasing more than 60% since 2013” shared Kevin Reilly, PGI USA’s Vice President. “To continue this trajectory, we believe this newly established program will allow for continued growth, taking platinum jewelry sales to never before seen levels.”
For the jewelry industry at large, platinum jewelry provides an incremental profit opportunity and can increase the average ticket transaction. The fact that it’s the most secure setting for diamonds and gemstones ensures its lasting value. Platinum is a win-win for both consumers and the industry alike.
For more information and to apply for the Platinum Business Development Grant, visit here. The application deadline is April 30, 2021.