PGI India Holds Third Buyer-Seller Meet In Hyderabad
Platinum Guild International (PGI) India successfully held its third BuyerSeller Meet (BSM) for authorised platinum jewellery manufacturers and retailers of India under the PGI Programme on July 25th-26th, 2018 in Hyderabad. The meet aimed to showcase the true business potential of platinum, which has seen consistent double-digit growth for most retailers, and help deepen exposure to the category.
The third edition witnessed participation from nine manufacturers who showcased a diverse portfolio of over 5,000 pieces that included a range of bestsellers and new developments in core categories like Platinum Love Bands, Platinum Evara and Men’s platinum jewellery.
The event saw an overwhelming turnout of 95 retailers including Tanishq, Orra, Kalyan Jewellers, Malabar Gold and Diamonds, GRT Jewellers, Senco Gold & Diamonds, TBZ - The Original, Vummidi Bangaru Jewellers, Prince Jewellery, Indian Gem and Jewellery Creations, Lala Jugal Kishore, and Khimji Jewellers among several others.
The order booking was highest for Platinum Love Bands, Evara and Men’s jewellery followed by incremental orders for lightweight jewellery for women and dual-tone categories.
One of the key highlights of this year’s meet was the launch of PGI’s exclusive online training module: www.platinumtraining.in, which will encompass platinum’s history and heritage, attributes, key opportunities and best-in-store practices.
PGI also partnered with CNBC TV18 and brought together stalwarts from different industries to engage in a panel discussion featuring Akash Banerjee, senior VP, head of marketing & partnerships, Viacom Digital (Voot), Murali Talasila, partner & innovation leader, PwC India and Saurabh Uboweja, founder & CEO, Brands of Desire. They shared their expertise and knowledge on leveraging current disruptions to fuel business growth and attracting today’s millennial consumers.
The evening concluded with the ‘Season of Love’ awards night, where the key retailers and their staff, who promoted the campaign with enthusiasm and contributed to the sales of platinum jewellery, were felicitated.
Vaishali Banerjee, managing director, PGI India, said, “The growth momentum of 2017 has continued for platinum this year. Season of Love registered a retail sales growth of 70% with retailer participation almost threefold compared to last year. This is truly a result of our ongoing strategic collaboration with our partners. This momentum was represented at the BSM as well. We had 95 key retailers from India’s leading chain and independent stores visiting us in Hyderabad. It was two days of very brisk business and positive reviews from manufacturers. We are excited and extremely positive for the upcoming season.”
“This is a brilliant initiative taken by PGI and we now look forward to this every year. It gives us a chance to look at a wide range of platinum jewellery across categories by leading manufacturers, compare prices, product finishing and make an informed decision all under one roof,” said Puneet Mehra, director, Gandaram & Sons Jewellers.
The PGI India team with BSM participants.
Season of Love registered a year-on-year retail sales growth of 70%.
A visitor inspecting platinum bangles.