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
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 DonahueCopyright © 1998 by Bond Communications.