Platinum jewellery fabrication 3Q up by 13% YoY
A remarkable V-shaped recovery after 1% YoY growth in Q2 following 56% YoY slump in Q1 Recently Platinum Guild International released the Platinum Jewellery Business Review (PJBR). Overall PJBR says, China’s GDP continued its steady recovery, owing to a stringent lockdown and tracking system to control Covid-19. Platinum jewellery outperformed other categories, delivering a remarkable 13% YoY growth in fabrication, thanks to pent-up bridal demand, new collection launches, PGI’s Reboot during key festival occasions and favourable platinum/gold metal pricing. India’s GDP contracted at a slower pace in Q3 due to the gradual reopening of economic activities. Platinum jewellery sales picked up among strategic partners. High gold prices present an opportunity to convert consumers from gold to platinum, especially for entry price point products. The second wave of Covid-19 in Japan peaked in early August, enabling some business recovery during Q3. Platinu...