Platinum sales expected to rise by 35 per cent: report

Mumbai: Platinum jewellery saw the fastest growth in the Indian jewellery sector in 2013 at over 41 per cent in both chain stores and independent stores.

This pace of growth is expected to continue at over 35 per cent, mostly due to couple bands, according to the Platinum Guild International (PGI) in its first global ‘Retail Trade Barometer’ for platinum jewellery.

A surprise boost came from the men’s jewellery range which saw a rapid growth of over 53 per cent with platinum being a lead category within men’s jewellery.

According to GRT Jewellers, G.R. Anantha-padmanabhan, “Besides the couple bands the interest amongst men for platinum jewellery is growing at a fast pace.

Our focus for this year will continue to cater to this growing consumer demand with exclusive platinum designs of rings, and bracelets that appeal to men.”

Vaishali Banerjee, country manager, India, PGI, is optimistic about the 2014 being promising and said, “Once the knowledge of the value of platinum deepens, the demand will increase.

Men’s jewellery is a nascent category and delivered very strong figures — in some cases doubling the sales.”