(Kochi, July 12, 2023): Building upon the resounding success of its previous five editions, Platinum Guild International (PGI) – India once again launched its annual flagship retail initiative, Platinum ‘Season of Love’, in 2023. This prestigious event witnessed participation from over 1,650 stores and has become the pinnacle of achievement in the Indian platinum jewellery sector, celebrating excellence, creativity, and the limitless possibilities within the industry.
The sixth edition of this month-long initiative took place from May 1 to June 1 2023. Its primary objectives were to boost a positive sentiment among retail partners and drive platinum jewellery sales during this period. Once again, Platinum Season of Love re-energised the category and significantly enhanced overall consumer demand for platinum. Participating retailers reported a robust 30% increase in growth compared to the previous season last year, reflecting an exceptional consumer response.
Since its inception in 2016, the Platinum Season of Love initiative has experienced tremendous growth. The number of participating stores has skyrocketed from 200 to an impressive 1,650 by 2023, marking a remarkable 700%+ increase in just seven years. The highly anticipated ‘Platinum Season of Love Awards’ concluded this year’s retail initiative. Hosted by PGI India at the Platinum Buyer-Seller Meet in Kochi, the awards ceremony honours the outstanding achievements of PGI’s retail and manufacturing partners, recognising winners and noteworthy achievers in this flagship retail endeavour.
This year’s award recipients in various categories were commended for their efforts in driving increased in-store conversions and bolstering platinum jewellery sales. These partners have played a vital role in elevating the industry to new heights, setting benchmarks for innovation, customer engagement, and exceptional sales growth. The roster of awardees included national winners from chain stores and independent retailers, regional winners from North, South, East, and West from chain stores and independent retailers, as well as emerging players in both chain stores and independent retailers. The awards also recognised leading manufacturers for excellence across three branded categories, including Platinum Love Bands, Men of Platinum and Platinum Evara, for their design excellence as well as retailers’ choice for the service of best manufacturer. Lastly, outstanding sales associates were also awarded for their remarkable performance in retail conversions.
Sharing her views on the astounding success of the initiative, Vaishali Banerjee, Managing Director – PGI India stated, “With each passing year, the Platinum Season of Love initiative continues to redefine excellence in the platinum jewellery industry. This year too we are excited by the achievements of our retail and manufacturing partners. This initiative has proven to be a game-changer, fuelling sales growth and demonstrating unparalleled business opportunities for platinum within the Indian jewellery sector. As we honour the brilliant winners at Platinum Season of Love awards, we celebrate not only the achievements of today but also the potential that awaits us in the world of platinum jewellery.”
On being declared as the Platinum Season of Love National winner under the 6th edition and the regional winner – South award in the chain stores category, Mr G.R. ‘Anand’ Ananthapadmanabhan, Managing Director of GRT Jewellers expressed, “Winning this award is a true privilege. We would like to take this opportunity to applaud our entire team, whose exceptional dedication has contributed to the resounding success we celebrate today. We also thank our patrons and customers who continue to support us through this!”
Mr G. R. Radhakrishnan, Managing Director, GRT Jewellers further added, “We are grateful to our team and our customers for their invaluable contributions that led to our victory in this prestigious award. It brings us immense joy to receive this double recognition. The latest edition of Platinum Season of Love has played a pivotal role in stimulating the demand for platinum jewellery ahead of a season characterised by significant growth.”
Mr Asher O, Managing Director – Malabar Gold & Diamonds, recipient of 1st runner-up of National awards and winner of regional awards – West & runner-up regional awards – South in Chain stores category, shared his thoughts, saying, “This triple recognition of our efforts is an absolute honour for us. With the festive season soon upon us, the month-long programme was indeed a great way to energise the customers during this important season.”
On being announced as the National Award 2nd runner up and also the winner for Regional–west and east chain store, Mr Rajesh Kalyanaraman, Executive Director, Kalyan Jewellers expressed, “Being acknowledged as a winner across multiple categories is an honour for us. The jewellery industry is currently going through an evolving phase, and we are delighted to be actively involved. The overwhelming response that we have received from our consumers during the Platinum Season of Love initiative has been remarkable. The exceptional feedback we have received fills us with optimism, and we anticipate an exciting second half of the year.”
Winner of Best Independent Store under the national category and runner-up regional awards – west, Mr Milan Shah, Director, Kalamandir said, “The Platinum Season of Love initiative has been instrumental in capitalising on the demand for platinum jewellery, especially among younger consumers. Winning this award is an achievement for us, as it highlights the success of this initiative.”
Mr Viren Choksi,Director, D Kushalbhai 1st runner-up for the best independent store in the national category said, “We extend our heartfelt gratitude to our team for their dedication and endeavours in achieving the remarkable success of the Platinum Season of Love initiative. The positive response from consumers during this period, coupled with the recognition we have received, serves as a testament to the exceptional efforts put forth by our team.”
Dr. Siva Arul, Managing Director,Sarvana Stores Elite Diamonds 2nd runner-up best independent store under the national category said, “We are happy to achieve this award during the esteemed Platinum Season of Love campaign. This recognition will undoubtedly stand as a significant milestone for our team, showcasing our remarkable accomplishments”.
“We are humbled and honoured to receive the prestigious award for emerging chain store at the Season Of Love 2023. This recognition symbolises the passion and dedication we pour into creating a unique and captivating experience for our customers. This award serves as a catalyst for us to stock designs in platinum jewellery that will resonate with our customers. We extend our heartfelt appreciation to our customers who continue supporting us,” said Mr John Alukka, Managing Director, Jos Alukkas on winning the Emerging Chain Stores category award.
“This is a great achievement for us, and we are absolutely thrilled to receive this award. The interest and demand for platinum have been on the rise among customers and as an independent retailer, we believe in offering a distinct selection of jewellery pieces that appeal to our target customers. This award inspires us to continue pushing boundaries, seeking new horizons, and creating extraordinary experiences for our customers,” said Rajesh Rokde, Director, Rokde Jewellers on winning emerging independent stores.
“We are overjoyed to be honoured with this dual prestigious recognition. The journey of men’s jewellery for us has been a long and remarkable one, making this retailer recognition even more meaningful and humbling for us. With the current demand trends in mind, we hold great expectations and eagerly anticipate promising growth in the upcoming quarter,” said Mr Nirmal Rawal, BN Jewellers on being felicitated with the Best Manufacturer Award for Men of Platinum and Service – Retailers’ Choice.
“We are deeply honoured to receive this award for Platinum Days of Love. The Platinum ‘Season of Love program is a brilliant initiative. It has played a pivotal role in enhancing the demand for platinum jewellery, especially among younger consumers. As we persist in our commitment to pushing boundaries and achieving excellence in crafting platinum love bands, we are equally enthusiastic about expanding our offerings to a diverse range of products, including bracelets, chains, and exquisite platinum jewellery tailored for men,” said Madhu Dhabuwala from Jewelex on being awarded the Best Manufacturer Award for design excellence for Platinum Days of Love
“In recent months, we have experienced extraordinary progress, especially with the introduction of self-purchase options within Platinum Evara. Winning the prestigious award for Platinum Evara fills us with immense joy. Moreover, we have successfully crafted innovative designs for Platinum Days of Love and developed a dedicated collection for Men of Platinum, aimed at fuelling further growth in the platinum market,” stated Mr Binay Goenka from HK Jewels