Platinum Shines Brightly at China Platinum Jewellery Forum as the Heart of the Industry’s Recovery
(December 2020) China – Platinum Guild International (PGI) China hosted the 2020 China Platinum Jewellery Forum on 2-5 December 2020, in Shenzhen, the jewellery manufacturing hub in China. The four-day event including a business forum, a platinum jewellery buyers and sellers trade exhibition and a technical forum, brought together a constellation of industry experts, leading jewellery retailers, wholesalers, manufacturers, and delegate of other related industries. The forum’s speakers and participants came together to share insights, perspectives and best practices across the 5Ps of marketing related to China’s platinum jewellery industry.
2020 Platinum Jewellery Business Forum
Platinum Jewellery Business Forum – Combining Experience and Strategic Planning to Drive Innovation
Pui P. Poon, Managing Director of PGI China, recapped PGI China’s mission, strategy and activities in 2020, which helped lift the popularity of platinum jewellery among consumers and rejuvenated the trade’s passion for platinum. Despite challenging circumstances, PGI China has developed effective brand communication, provided holistic marketing support to business partners and facilitated knowledge sharing. PGI China’s advertising campaigns, promotional roadshows, and training and seminars have emboldened its partners to place strategic importance on platinum in their recovery plans. Hence, platinum jewellery performed strongly in comparison with the jewellery industry from the second quarter onwards. In the third quarter of 2020, platinum jewellery fabrication jumped 13% year-on-year and retail sales of platinum jewellery from PGI’s partners also recorded 5% year-on-year growth. In 2021, PGI China will continue to leverage this momentum and the apt positioning of platinum as the metal of meaning to drive sustained growth.
Pui P. Poon, Managing Director of PGI China
The younger generation is a major driving force of discretionary and luxury spending. Therefore, attracting those younger consumers is a key goal for jewellery brands. Grace He, Market Intelligence & Planning Director of PGI China, and Yu Weiling, Research Director of Youthology, a leading ethnography research agency, revealed the consumption habits, value systems, and popular culture of post-95s consumers and related implications for the jewellery industry.
Speakers at the Forum
Calvin Yeap, Consumer Marketing Director of PGI China, also stressed the need to engage with younger consumers with values, languages, activities and channels that are native to them. Today’s young generations face a great challenge to stay true to themselves. As a metal of meaning, platinum encourages them to persevere when they are in doubt. Yeap shared PGI’s evolved brand identity as well as initiatives, all of which were enthusiastically received by participants.
Tai Wong, Innovation & Product Development Director of PGI China, reviewed the progress of platinum technical developments in the past year. According to Wong, the properties of hard platinum alloys (wear-resistant, brighter, harder, etc.) are crucial to enable product and design innovations. He also shared technical developments in electroforming and 3D printing that will empower designers to make the most of platinum’s unique properties and come up with more sophisticated and exquisite designs.
Surviving and thriving in the fierce competition and fast-changing market is impossible without the right marketing model. Shawn Pei, General Manager of Product Merchandising (Platinum & K-gold) at Chow Tai Fook, shared insights into how the leading jewellery brand makes technical innovations in products as the foundation of their marketing model, which resulted in great success with their platinum branded collections. Ma Jianying, Chairperson of Handan Zhaodu Gold and Jewellery, shared that over the past 20 years, the company has held a firm belief in the platinum jewellery market and has achieved considerable gains through concerted efforts of fellow players in the industry. She urged other industry players to take a long-term view of the platinum jewellery business. I-Primo, which became a PGI partner this year, shared its passion for platinum as well in comments by Imai Toshihiko, Senior Merchandise Manager and Mao Jianqing, Senior Marketing Manager, who reported that platinum jewellery contributed up to 92% of its sales in Japan. In China, I-Primo's platinum-focused jewellery is increasingly popular.
Platinum Jewellery Buyer Seller Trade Exhibition– Product Innovation Unlocking New Market Opportunities
At the Platinum Jewellery Exhibition, twelve leading jewellery manufacturers in China showcased their latest jewellery pieces, impressing the visitors with state-of-the-art techniques, fashionable designs, diverse cultural elements, and exquisite craftsmanship. Live streaming was also used at the exhibition to allow for a greater number of virtual visitors.
2020 Platinum Jewellery Exhibition
Most manufacturers also showcased their products in the 2020 "Platinum Moment" collection, which has been selling very well due to its contemporary designs and narrative of "Tenacity Powered Gracefulness", a tribute to the tenacity of young women.
Platinum Jewellery Technical Forum – Leading the Industry with Innovative Technologies
The younger generation that grew up along with the internet, has become the main consumer group for the platinum jewellery market and their digital-powered lifestyle is shaping current consumption trends. Innovative designs and technologies are required to cater to the diverse needs of this young audience, who tend to embrace individuality and new things. Chinese and international experts shared the latest technical innovations which are expected to be the engine of sustained growth for platinum in the future.
2020 Platinum Jewellery Tech Forum
Mr. Wong reiterated PGI China’s commitment to bringing in the most advanced technical expertise for its partners and collaborating with them to drive innovation in the platinum jewellery industry. Josh Helmich from the Helmich Luxury Group spoke of casting and hard platinum techniques and explored the properties of new alloys and the prospects of hard platinum. Chen Jian, Deputy General Manager from YDR International, shared innovations and R&D updates in platinum electroforming techniques. Sam Tang, General Manager from Orfin High-Tech International, and Damiano Zito from ProGold, jointly presented the latest developments in platinum 3D printing. Thanks to the efforts dedicated to solving technical challenges, the platinum jewellery industry can continue innovating, consolidating new techniques with traditional craftsmanship, and boosting the value of platinum jewellery in the future.
Platinum – The Heart of the Jewellery Industry Recovery
In the coming new decade, as rising consumption from younger consumers dominates the Chinese economy, PGI China will continue to leverage the China Platinum Jewellery Forum to facilitate knowledge sharing, introduce the most advanced technologies, and explore innovative ideas and new business models to further develop China’s platinum jewellery market.
2020 Platinum Jewellery Business Forum on 2 December
2020 Platinum Jewellery Exhibition on 3-4 December
2020 Platinum Jewellery Tech Forum on 5 December