PGI USA Announces Historic Platinum Business Development Grant Program
PGI USA will award up to a total of $500,000 in a 3-year program to one or more selected manufacturers, designers or retailers who submit a qualifying proposal
(March 9, 2021) New York – In an effort to fulfill their mission to develop demand for and build an enduring commitment to platinum in jewellery, Platinum Guild International USA is announcing the creation of an incomparable grant program open to the jewellery industry in the United States. The new program is designed to turbo-charge the growth in platinum jewellery business specifically within the USA by inspiring manufacturers, designers, and retailers to make platinum an important focus of their business.
Eligibility requirements for applicants include a US-based or US-focused business, a knowledge of designing and manufacturing in platinum, and willingness to make a long-term commitment to designing, manufacturing and/or selling platinum products.
Relying upon consumer research conducted by 360 Market Reach which was shared with the industry late last year, PGI USA is assured that consumers have placed increased value on symbolic items, such as engagement rings and wedding bands. This holds true across generations, thus increasing the sales potential of consumer segments ranging from the coveted Gen Zers to Baby Boomers.
“Prior to the pandemic, the platinum jewellery sector of the industry had grown consistently for the past seven years, increasing more than 60% since 2013” shared Kevin Reilly, PGI USA’s Vice President. “To continue this trajectory, we believe this newly established program will allow for continued growth, taking platinum jewellery sales to never before seen levels.”
For the jewellery industry at large, platinum jewellery provides an incremental profit opportunity and can increase the average ticket transaction. The fact that it’s the most secure setting for diamonds and gemstones ensures its lasting value. Platinum is a win-win for both consumers and the industry alike.
For more information and to apply for the Platinum Business Development Grant, please visit https://www.platinumlearning.com/grant-application. The application deadline is April 30, 2021.