February 1998

Precious Metals: News



If you thought 1997 was a good year for platinum, wait until you see the Platinum Guild's plans for this year


The explosive growth of platinum jewelry demand shows every sign of continuing through 1998, according to Platinum Guild International's U.S. office in Newport Beach, CA. PGI's plans to promote the metal are bullish, which should help you to increase demand in your own markets.

What's in the Works

With a record 15% of the bridal market choosing platinum, PGI plans to further develop growing target markets within the category - especially second-time brides, who account for one-third of the 2.3 million marriages in the U.S. each year, and men, who are showing an increasing interest in the metal.

PGI-USA plans to increase its advertising reach from 20 million last year to 50 million readers this year. Plans call for full-page ads, double-page spreads and multipage inserts. PGI-USA also will increase the number of manufacturers whose product will be featured in the ads from 50 in 1997 to 65 in 1998.

PGI-USA will increase its emphasis on lower price points for jewelry, as well as more metal-intensive pieces.

PGI-USA will continue to promote its on-line site, www.preciousplatinum. com, which brings a variety of product and images to consumers, providing them with a retail locator to find a retailer who carries platinum jewelry.

Look for PGI-USA's first in-house design competition. The 1998 competition is expected to draw about 1,250 renderings and 250 finished pieces. PGI-USA will encourage designers to create all-platinum pieces in affordable retail price ranges, as well as outside the bridal jewelry categories. For an information packet, fax your request on letterhead to Lisa Labrado at PGI, (714) 760-8780.

With its 1997 pledge of $120,000 to the Gemological Institute of America, PGI-USA also looks forward to platinum training taking its place in GIA's permanent curriculum in the Jewelry Manufacturing Arts program. It also will help place platinum training in GIA's distance-study program.


- by Peggy Jo Donahue

Copyright © 1998 by Bond Communications.


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