20 March 2019
Innovative design ideas are crucial to revitalising China’s platinum jewellery market.
Design and innovation are vital to the future of platinum jewellery as consumers’ needs rapidly evolve. With this in mind, the Platinum Guild International (PGI®) said it will continue to promote inspired platinum jewellery designs, particularly in China, the world’s largest platinum jewellery market.
According to Dennis Kao, managing director of PGI® China, PGI® is committed to deepening its cooperation with local and overseas partners to introduce more advanced technology from around the world to China, and encourage innovation in product design.
Tai Wong, business development director of PGI®, said the guild wants to firmly establish consumers’ passion for platinum jewellery by continuously providing a full range of support to the platinum jewellery industry.
“It is part of PGI®’s duty to endorse and support creativity in the platinum jewellery sector, globally and locally,” Wong added.
One effective way of fostering creativity and innovation in the platinum jewellery segment was through the JNA Design Competition 2018/19, where PGI® was a sponsor. Wong cited the competition’s “admirable” mission to bridge market opportunities with global design talents.
“It was an honour for PGI® to be part of this endeavour,” he added. “It was wonderful to see the Chinese jewellery industry supporting this cause as well.”
PGI® said it will continue to focus on creating opportunities in the platinum jewellery sector. Providing support to the trade to help companies develop more novel collections, which in turn, can deliver better margins and turnover, will be a major focus of the association in 2019.
“Prices of platinum are at very competitive levels at the moment and we see huge commercial opportunities for retailers to stock platinum jewellery with strong design elements,” Wong added.
It is imperative for platinum jewellers to constantly update their brand appeal to keep up with the evolving demand of modern consumers, remarked Wong, citing the platinum market’s still untapped potential.
PGI® will further strengthen the platinum’s identity in the bridal jewellery segment, and look into the possibility of creating new occasions and market opportunities. “We will continue to come up with innovative ideas and conduct market research to revitalise the platinum jewellery market in China,” Wong said.
All jewellery images from Platinum Guild International (PGI®)