Though available in India for several years, it is only recently that a number of factors coalesced to boost the popularity of platinum jewellery in this country. Not the least amongst them has been the steady and strong marketing push given by the Platinum Guild International (PGI) over the past decade or so. This included the spread of information and knowledge about the metal amongst consumers and retailers alike. %% The other significant aspect is that in recent times, the price differential between platinum and gold – by far the overwhelming favourite in India – has been virtually obliterated with sharp increases in the latter. There is also the emergence of a segment of people who are abreast of international fashion trends, have a desire for assured purity and have developed refined sensibilities. %% Finally, manufacturers working in this segment have evolved and matured; they have mastered the intricacies of manufacturing jewellery made from platinum, which is extremely hard, and, in many ways, a tough metal to work with. However, for this very reason, it is also a designer’s delight lending itself to be worked in a greater variety of ways than most other precious metals. {{Nilan Singh}} rides the platinum wave which is creating a refreshing splash in India and along the way speaks to some manufacturers and Vaishali Banerjee, Manager India, Platinum Guild International.%%

When celebrity couple Mandira Bedi and Raj Kaushal discovered that after 11 years of marriage they were going to have a baby, it was the highpoint of their lives. “That very special moment when we were overjoyed and hugged each other, was like falling in love all over again. There is no better way to grace the day than to exchange Platinum Love bands, a symbol of true love,” the couple enthused later. They further added, “The most special day in anyone’s life is when you realise that you have found true love, when you know that you and your partner are inseparable.”%% When Bollywood actress Freida Pinto, of Slumdog Millionaire fame attended the London Premier of her new film Trishna, she flaunted a Chopard platinum and diamond cuff bracelet on the red carpet. %% Platinum, the metal of choice of international celebrities and royalty for ages, is becoming a trend statement for the Indian haute monde too. But it is not just celebrities and those from the top echelons of society with whom platinum has found favour. It’s moonlike luminescence has quietly woven its magic around the hearts of general consumers in this country too. %% From a presence in a mere 12 outlets in which it was launched in the year 2000, platinum jewellery now reaches consumers from over 450 doors. Actual platinum consumption figures within the country are hard to come by, and the numbers put out by different sources vary greatly. A media report of August 2011 states, “Platinum (demand) is up 15 per cent this year and market researchers say that the demand for platinum may increase to 15 tonnes by the end of 2010-11 against 10 tonnes in 2008-09.” %% However, platinum industry insiders estimate that India’s current offtake amounts to about four to five tonnes. %% While an IBEF report pegs the growth of the platinum jewellery segment in India at 19 per cent annually, individual retailers say their growth has been anywhere in the range of 25 per cent to 55 per cent, thus indicating that the overall market may be growing at a stronger pace than recorded. %% “There has been great surge in the demand for platinum jewellery and more so for platinum love bands, as it is an expression of true love,” said Paresh Soni, managing director, C. H. Jewellers, Vadodara. “Customers are also choosing platinum over other metals as they are now better informed about of its inherent qualities of high value, rarity and emotional appeal. Although platinum love bands are a hit with couples, other platinum jewellery like simple elegant neck-pieces for women or smart and masculine bracelets for men have also been hot favourites.”%%

In a similar vein, M. Radhakrishnan, managing director, GRT Jewellers commented, “Over the past few years we have seen an increasing demand for platinum jewellery from both men and women. Men are really taking to platinum jewellery. Being a very precious metal, it also offers the buyer an excellent store of value, just like gold.''%% Joy Alukkas of Joyalukkas Jewellery retail chain, which recently launched a new range of platinum jewellery said on the occasion, “Platinum jewellery has come of age in India. The women of today are better informed and thus choose platinum for its inherent qualities of being one of the most precious and rare metals.'' %% Definitely a large part in the success that platinum jewellery is achieving today is the effort made by Platinum Guild International since 2000, when it first set up office in India. Since then, it has not only been regularly studying and researching consumer reactions, it has had an ongoing marketing campaign since then. This includes consumer advertising, which has been greatly stepped up in recent years. From familiarising the consumer with platinum initially to the more focused Platinum Day of Love campaigns, there has been a gradual step up in both the content and the frequency with which the ads are hitting consumers. In a market like India with its widespread culture of arranged marriages, even amongst the younger more modern youth, the Platinum Day of Love campaign has found a special resonance. %% PGI has been quick to use social platforms as well. Earlier this year it launched a Platinum Day of Love contest for which they invited couples to send in their special love story. PGI India later reported that “Within three months of its inception the Platinum Day of Love page had 28000 + fans, the feeds had 3,042,133+ views, and 550+ people shared their Platinum Day of Love stories. Apart from this, every jewellery design that was put up on the page received many ‘likes’ and ‘comments’ and the final Platinum Day of Love prize, when put up, created a lot of excitement.”%% “The PGI has played an exemplary role in promoting this category,” says Sohil Kothari, Director, Fine Jewellery, one of the key manufacturers of platinum jewellery in India. “They have given it a huge boost. The Platinum Day of Love campaign is the largest worldwide generic campaign of its kind today.”%% Apart from the marketing aspect, one factor which has greatly helped the segment is the narrowing of the gap between platinum and gold prices. International analysts point out that from 2000 to 2008, platinum prices ranged between 1.5 to 2.5 times those of gold. In August 2011, the price of gold actually surpassed that of gold and for a time it even traded at 93 per cent of gold. %%

In this scenario, and given that the message that platinum is precious, rare and above all more pure, has been spread widely and well to consumers, it is easier for them to buy into the platinum dream. %% Platinum Guild India has appointed Underwriters Laboratories (UL Inc, USA) to audit and monitor its Quality Assurance Scheme. Under this scheme, all authentic platinum jewellery in India comes with a Quality Assurance Card and bears the purity hallmark of “Pt 950” stamped inside the piece. This also guarantees a ‘buy back’ programme. %% What Pt 950 in effect means is that platinum jewellery in India has 95 per cent purity (comprising 95 per cent of platinum and 5 per cent of alloy metals) while say 18k gold is of 75 per cent purity, and even 22k gold does not reach this level of purity.%% According to the PGI, platinum is also 30 times rarer that gold. It is a metal moreover which does not tarnish or lose its sheen over time, unlike other white metals. %% Apart from this there is a tag of elitism attached to the metal as well, and it has had an aspirational value for some time, especially amongst the younger generation which follows international trends. %% Importantly, another factor that has given a huge impetus to the popularity of platinum jewellery is the maturing of the designing and manufacturing of platinum jewellery. Earlier, more westernised styles and a restricted canvas of designs has given way to an exuberant outpouring of creativity from the group of manufacturers that the PGI works with. This was amply evident at the recent launch of Season 2011 collections by a clutch of different manufacturers. %% The designs fit in well with the women’s range of wardrobe from modern-Indian, to fusion to western. %% The fact that manufacturing techniques have been mastered, and there has been large investment in technology means that manufacturers can exercise a greater flexibility in designing.%% “It is a very difficult metal to work with,” says Kothari. “But it also allows us to do different things which would not be possible with gold.” %% The strength of the metal allows for finer wires and sheets for one. “We were able to design our Cocoon Collection as a result of this property, with the piece being completely hollow from inside” he continues. “We use hollow casting technology for which we have special machines.”%%

At another level, laser etching and laser cut-outs – which give a jaali look – can also be done easily on this metal. “The patterns come out very crisp and sharp,” explains Kothari. “This is again not easy with gold for which you would have to use thicker metal and the delicacy is lost.” %% Kothari also believes that “Platinum is better suited to set diamonds, as it is extremely strong”. With other metals, he says, there is a chance of small bits falling off if brushed against a hard surface and there is also a possibility of losing the stone.%% Umesh Shah, Vice President of Shrenuj and Co. Ltd, and the man who heads the company’s production facility, also stresses the difficulty of working with platinum. “You need special centrifugal machines for pressure casting of molten platinum which is done with centrifugal force,” he says. “Platinum melts at a very high temperature – much higher than gold.”%% The metal is also very sensitive to foreign particles like iron, which might contaminate the metal in the course of working with it. “Your housekeeping has to be perfect,” Shah elaborates. “Otherwise you will end up with faults in a casted piece. If proper care is not taken in the manufacturing process, after polishing you may also find air gaps and dents below the surface.”%% Shah also informs us that there are three steps in the grinding process of platinum – coarse, medium and fine – unlike gold, for which two steps are adequate. %% However, if one is able to cope with its various difficulties, the metal lends itself to a great variety of designs and is also becoming increasingly popular with consumers Shah believes. “In 2003 when we first started manufacturing platinum jewellery, we were doing about seven kg of the metal, now we do over 100 kgs,” says Shah. %% A significant difference also is that when they first started, Shrenuj’s platinum jewellery was entirely export oriented and destined for markets in Japan, Europe and the USA. Today, it is a significant part of its production for the Indian market. The company has also set up a special brand, Diti, which is currently available from 71 counters and will increase to 85 in a few months. “We are the pioneers of platinum branded jewellery,” Shah points out with satisfaction.%%

Touching on another aspect, Shah says, “We took some time to identify what works in platinum jewellery. Now we have developed a good idea of the designs which will be appealing and succeed. Also, the product mix has to also be carefully planned across the country, as different regions have different cultures and requirements.”%% Gunjan Suri, head of the designing team at Shrenuj believes that platinum has a western appeal and is best suited for modern and fusion designs. %% Elaborating on the design possibilities of the metal, she says, “As platinum is a harder metal it is more ductile and malleable. It is possible to go into entire ranges not possible with other metals, like thin wire-framed jewellery. It also takes deep engraved textures much better.”%% Both Shah and Suri believe that for platinum designs, it is better to keep the diamond content low, highlighting the metal instead. “We don’t use much pave,” says Shah. “We use more prong settings.”%% Suri adds, “It is important to keep the metal’s visibility at the fore as it has a beauty and a lustre of its own. For platinum jewellery, it is easier to play with settings, techniques and textures to a greater extent. Hence, the possibilities are so much greater.”%% The enthusiastic designer is also very excited about the team’s attempts at combining platinum with other material. “We have a rudraksha platinum mala,” she says. “And now we are also looking at using gold and platinum in combination and creating two-toned pieces.”%% Shah believes that the tight control that PGI has maintained over the years has worked very well in providing reassurance to the consumer. “There are very few manufacturers and retailers who are part of the PGI programme,” he says. “There is third party checking and the whole chain is well controlled.” %% Ganjam is one jeweller which has decided to tread a different path. Whereas most others manufacturing platinum jewellery produce machine made pieces at lower price points, Ganjam is perhaps the only one which has chosen to deal in handmade, high end platinum jewellery. Ganjam first entered the segment when it started creating platinum jewellery of one of its Japanese clients. “We worked extensively with him, and then we thought why not introduce platinum jewellery in the Indian market too,” says Kumar Ganjam, scion of the famous family and director of the House of Ganjam. %% He explains that they work in two ways: “We design and manufacture pieces based on concepts our in-house designers come up with. Or we create pieces according to the PGI brief.”%%

PGI’s water-based themes have resulted in some stunning pieces as a result – the Cascada (Waterfall) collection of 2006, the Spring Collection and the Riverdance Collection were some of the noteworthy lines created as a result. But Ganjam’s all time wonder is no doubt Iraja (Born of Water) that the jeweller created as part of an international collection – for which designers from different parts of the world contributed – forming PGI’s display at Baselworld 2007. Created out of 450 gms of platinum, 303 diamonds, 550 elements of hand twisted platinum and 840 platinum beads, it was produced using five new pioneering production techniques. A veritable feat of production and an ageless marvel, Iraja’s attraction holds sway even today. %% “Whether it is for competitions or it is an in-house designed piece, each product is one-of-a-kind,” says Kumar, who also looks after sourcing of diamonds and gemstones for the company and supervises all production. “While most other companies offer entry-level pieces, our products are priced at Rs. 5 lakh and above. We use high value diamonds and unique gemstones.” %% The advantage of platinum Kumar feels is that as a result of its high density, it is easier to work with. “We can make hollow items like hollow pipes,” he adds. “And as we get to high level products and larger pieces, we can also impart a lighter look. Also, balancing a piece of platinum jewellery is easier. There is no danger of any parts snapping, and that is a relief when you are making a large item where all pieces are linked together..” %% Clearly most manufacturers feel that the advantages of the metal far outweigh the difficulties it presents while working it. Those working in this segment are equally gung-ho about the future of this segment which is by all accounts only now taking firm root in the country. China has already overtaken Japan and become the largest consumer of platinum jewellery in the world accounting for about a 70per cent share of the world market. Will India, whose share today is relatively very small, get anywhere near that? The betting is open.%%

Though available in India for several years, it is only recently that a number of factors coalesced to boost the popularity of platinum jewellery in this country. Not the least amongst them has been the steady and strong marketing push given by the Platinum Guild International (PGI) over the past decade or so. This included the spread of information and knowledge about the metal amongst consumers and retailers alike. %% The other significant aspect is that in recent times, the price differential between platinum and gold – by far the overwhelming favourite in India – has been virtually obliterated with sharp increases in the latter. There is also the emergence of a segment of people who are abreast of international fashion trends, have a desire for assured purity and have developed refined sensibilities. %% Finally, manufacturers working in this segment have evolved and matured; they have mastered the intricacies of manufacturing jewellery made from platinum, which is extremely hard, and, in many ways, a tough metal to work with. However, for this very reason, it is also a designer’s delight lending itself to be worked in a greater variety of ways than most other precious metals. {{Nilan Singh}} rides the platinum wave which is creating a refreshing splash in India and along the way speaks to some manufacturers and Vaishali Banerjee, Manager India, Platinum Guild International.%%

When celebrity couple Mandira Bedi and Raj Kaushal discovered that after 11 years of marriage they were going to have a baby, it was the highpoint of their lives. “That very special moment when we were overjoyed and hugged each other, was like falling in love all over again. There is no better way to grace the day than to exchange Platinum Love bands, a symbol of true love,” the couple enthused later. They further added, “The most special day in anyone’s life is when you realise that you have found true love, when you know that you and your partner are inseparable.”%% When Bollywood actress Freida Pinto, of Slumdog Millionaire fame attended the London Premier of her new film Trishna, she flaunted a Chopard platinum and diamond cuff bracelet on the red carpet. %% Platinum, the metal of choice of international celebrities and royalty for ages, is becoming a trend statement for the Indian haute monde too. But it is not just celebrities and those from the top echelons of society with whom platinum has found favour. It’s moonlike luminescence has quietly woven its magic around the hearts of general consumers in this country too. %% From a presence in a mere 12 outlets in which it was launched in the year 2000, platinum jewellery now reaches consumers from over 450 doors. Actual platinum consumption figures within the country are hard to come by, and the numbers put out by different sources vary greatly. A media report of August 2011 states, “Platinum (demand) is up 15 per cent this year and market researchers say that the demand for platinum may increase to 15 tonnes by the end of 2010-11 against 10 tonnes in 2008-09.” %% However, platinum industry insiders estimate that India’s current offtake amounts to about four to five tonnes. %% While an IBEF report pegs the growth of the platinum jewellery segment in India at 19 per cent annually, individual retailers say their growth has been anywhere in the range of 25 per cent to 55 per cent, thus indicating that the overall market may be growing at a stronger pace than recorded. %% “There has been great surge in the demand for platinum jewellery and more so for platinum love bands, as it is an expression of true love,” said Paresh Soni, managing director, C. H. Jewellers, Vadodara. “Customers are also choosing platinum over other metals as they are now better informed about of its inherent qualities of high value, rarity and emotional appeal. Although platinum love bands are a hit with couples, other platinum jewellery like simple elegant neck-pieces for women or smart and masculine bracelets for men have also been hot favourites.”%%

In a similar vein, M. Radhakrishnan, managing director, GRT Jewellers commented, “Over the past few years we have seen an increasing demand for platinum jewellery from both men and women. Men are really taking to platinum jewellery. Being a very precious metal, it also offers the buyer an excellent store of value, just like gold.''%% Joy Alukkas of Joyalukkas Jewellery retail chain, which recently launched a new range of platinum jewellery said on the occasion, “Platinum jewellery has come of age in India. The women of today are better informed and thus choose platinum for its inherent qualities of being one of the most precious and rare metals.'' %% Definitely a large part in the success that platinum jewellery is achieving today is the effort made by Platinum Guild International since 2000, when it first set up office in India. Since then, it has not only been regularly studying and researching consumer reactions, it has had an ongoing marketing campaign since then. This includes consumer advertising, which has been greatly stepped up in recent years. From familiarising the consumer with platinum initially to the more focused Platinum Day of Love campaigns, there has been a gradual step up in both the content and the frequency with which the ads are hitting consumers. In a market like India with its widespread culture of arranged marriages, even amongst the younger more modern youth, the Platinum Day of Love campaign has found a special resonance. %% PGI has been quick to use social platforms as well. Earlier this year it launched a Platinum Day of Love contest for which they invited couples to send in their special love story. PGI India later reported that “Within three months of its inception the Platinum Day of Love page had 28000 + fans, the feeds had 3,042,133+ views, and 550+ people shared their Platinum Day of Love stories. Apart from this, every jewellery design that was put up on the page received many ‘likes’ and ‘comments’ and the final Platinum Day of Love prize, when put up, created a lot of excitement.”%% “The PGI has played an exemplary role in promoting this category,” says Sohil Kothari, Director, Fine Jewellery, one of the key manufacturers of platinum jewellery in India. “They have given it a huge boost. The Platinum Day of Love campaign is the largest worldwide generic campaign of its kind today.”%% Apart from the marketing aspect, one factor which has greatly helped the segment is the narrowing of the gap between platinum and gold prices. International analysts point out that from 2000 to 2008, platinum prices ranged between 1.5 to 2.5 times those of gold. In August 2011, the price of gold actually surpassed that of gold and for a time it even traded at 93 per cent of gold. %%

In this scenario, and given that the message that platinum is precious, rare and above all more pure, has been spread widely and well to consumers, it is easier for them to buy into the platinum dream. %% Platinum Guild India has appointed Underwriters Laboratories (UL Inc, USA) to audit and monitor its Quality Assurance Scheme. Under this scheme, all authentic platinum jewellery in India comes with a Quality Assurance Card and bears the purity hallmark of “Pt 950” stamped inside the piece. This also guarantees a ‘buy back’ programme. %% What Pt 950 in effect means is that platinum jewellery in India has 95 per cent purity (comprising 95 per cent of platinum and 5 per cent of alloy metals) while say 18k gold is of 75 per cent purity, and even 22k gold does not reach this level of purity.%% According to the PGI, platinum is also 30 times rarer that gold. It is a metal moreover which does not tarnish or lose its sheen over time, unlike other white metals. %% Apart from this there is a tag of elitism attached to the metal as well, and it has had an aspirational value for some time, especially amongst the younger generation which follows international trends. %% Importantly, another factor that has given a huge impetus to the popularity of platinum jewellery is the maturing of the designing and manufacturing of platinum jewellery. Earlier, more westernised styles and a restricted canvas of designs has given way to an exuberant outpouring of creativity from the group of manufacturers that the PGI works with. This was amply evident at the recent launch of Season 2011 collections by a clutch of different manufacturers. %% The designs fit in well with the women’s range of wardrobe from modern-Indian, to fusion to western. %% The fact that manufacturing techniques have been mastered, and there has been large investment in technology means that manufacturers can exercise a greater flexibility in designing.%% “It is a very difficult metal to work with,” says Kothari. “But it also allows us to do different things which would not be possible with gold.” %% The strength of the metal allows for finer wires and sheets for one. “We were able to design our Cocoon Collection as a result of this property, with the piece being completely hollow from inside” he continues. “We use hollow casting technology for which we have special machines.”%%

At another level, laser etching and laser cut-outs – which give a jaali look – can also be done easily on this metal. “The patterns come out very crisp and sharp,” explains Kothari. “This is again not easy with gold for which you would have to use thicker metal and the delicacy is lost.” %% Kothari also believes that “Platinum is better suited to set diamonds, as it is extremely strong”. With other metals, he says, there is a chance of small bits falling off if brushed against a hard surface and there is also a possibility of losing the stone.%% Umesh Shah, Vice President of Shrenuj and Co. Ltd, and the man who heads the company’s production facility, also stresses the difficulty of working with platinum. “You need special centrifugal machines for pressure casting of molten platinum which is done with centrifugal force,” he says. “Platinum melts at a very high temperature – much higher than gold.”%% The metal is also very sensitive to foreign particles like iron, which might contaminate the metal in the course of working with it. “Your housekeeping has to be perfect,” Shah elaborates. “Otherwise you will end up with faults in a casted piece. If proper care is not taken in the manufacturing process, after polishing you may also find air gaps and dents below the surface.”%% Shah also informs us that there are three steps in the grinding process of platinum – coarse, medium and fine – unlike gold, for which two steps are adequate. %% However, if one is able to cope with its various difficulties, the metal lends itself to a great variety of designs and is also becoming increasingly popular with consumers Shah believes. “In 2003 when we first started manufacturing platinum jewellery, we were doing about seven kg of the metal, now we do over 100 kgs,” says Shah. %% A significant difference also is that when they first started, Shrenuj’s platinum jewellery was entirely export oriented and destined for markets in Japan, Europe and the USA. Today, it is a significant part of its production for the Indian market. The company has also set up a special brand, Diti, which is currently available from 71 counters and will increase to 85 in a few months. “We are the pioneers of platinum branded jewellery,” Shah points out with satisfaction.%%

Touching on another aspect, Shah says, “We took some time to identify what works in platinum jewellery. Now we have developed a good idea of the designs which will be appealing and succeed. Also, the product mix has to also be carefully planned across the country, as different regions have different cultures and requirements.”%% Gunjan Suri, head of the designing team at Shrenuj believes that platinum has a western appeal and is best suited for modern and fusion designs. %% Elaborating on the design possibilities of the metal, she says, “As platinum is a harder metal it is more ductile and malleable. It is possible to go into entire ranges not possible with other metals, like thin wire-framed jewellery. It also takes deep engraved textures much better.”%% Both Shah and Suri believe that for platinum designs, it is better to keep the diamond content low, highlighting the metal instead. “We don’t use much pave,” says Shah. “We use more prong settings.”%% Suri adds, “It is important to keep the metal’s visibility at the fore as it has a beauty and a lustre of its own. For platinum jewellery, it is easier to play with settings, techniques and textures to a greater extent. Hence, the possibilities are so much greater.”%% The enthusiastic designer is also very excited about the team’s attempts at combining platinum with other material. “We have a rudraksha platinum mala,” she says. “And now we are also looking at using gold and platinum in combination and creating two-toned pieces.”%% Shah believes that the tight control that PGI has maintained over the years has worked very well in providing reassurance to the consumer. “There are very few manufacturers and retailers who are part of the PGI programme,” he says. “There is third party checking and the whole chain is well controlled.” %% Ganjam is one jeweller which has decided to tread a different path. Whereas most others manufacturing platinum jewellery produce machine made pieces at lower price points, Ganjam is perhaps the only one which has chosen to deal in handmade, high end platinum jewellery. Ganjam first entered the segment when it started creating platinum jewellery of one of its Japanese clients. “We worked extensively with him, and then we thought why not introduce platinum jewellery in the Indian market too,” says Kumar Ganjam, scion of the famous family and director of the House of Ganjam. %% He explains that they work in two ways: “We design and manufacture pieces based on concepts our in-house designers come up with. Or we create pieces according to the PGI brief.”%%

PGI’s water-based themes have resulted in some stunning pieces as a result – the Cascada (Waterfall) collection of 2006, the Spring Collection and the Riverdance Collection were some of the noteworthy lines created as a result. But Ganjam’s all time wonder is no doubt Iraja (Born of Water) that the jeweller created as part of an international collection – for which designers from different parts of the world contributed – forming PGI’s display at Baselworld 2007. Created out of 450 gms of platinum, 303 diamonds, 550 elements of hand twisted platinum and 840 platinum beads, it was produced using five new pioneering production techniques. A veritable feat of production and an ageless marvel, Iraja’s attraction holds sway even today. %% “Whether it is for competitions or it is an in-house designed piece, each product is one-of-a-kind,” says Kumar, who also looks after sourcing of diamonds and gemstones for the company and supervises all production. “While most other companies offer entry-level pieces, our products are priced at Rs. 5 lakh and above. We use high value diamonds and unique gemstones.” %% The advantage of platinum Kumar feels is that as a result of its high density, it is easier to work with. “We can make hollow items like hollow pipes,” he adds. “And as we get to high level products and larger pieces, we can also impart a lighter look. Also, balancing a piece of platinum jewellery is easier. There is no danger of any parts snapping, and that is a relief when you are making a large item where all pieces are linked together..” %% Clearly most manufacturers feel that the advantages of the metal far outweigh the difficulties it presents while working it. Those working in this segment are equally gung-ho about the future of this segment which is by all accounts only now taking firm root in the country. China has already overtaken Japan and become the largest consumer of platinum jewellery in the world accounting for about a 70per cent share of the world market. Will India, whose share today is relatively very small, get anywhere near that? The betting is open.%%

Though available in India for several years, it is only recently that a number of factors coalesced to boost the popularity of platinum jewellery in this country. Not the least amongst them has been the steady and strong marketing push given by the Platinum Guild International (PGI) over the past decade or so. This included the spread of information and knowledge about the metal amongst consumers and retailers alike. %% The other significant aspect is that in recent times, the price differential between platinum and gold – by far the overwhelming favourite in India – has been virtually obliterated with sharp increases in the latter. There is also the emergence of a segment of people who are abreast of international fashion trends, have a desire for assured purity and have developed refined sensibilities. %% Finally, manufacturers working in this segment have evolved and matured; they have mastered the intricacies of manufacturing jewellery made from platinum, which is extremely hard, and, in many ways, a tough metal to work with. However, for this very reason, it is also a designer’s delight lending itself to be worked in a greater variety of ways than most other precious metals. {{Nilan Singh}} rides the platinum wave which is creating a refreshing splash in India and along the way speaks to some manufacturers and Vaishali Banerjee, Manager India, Platinum Guild International.%%

When celebrity couple Mandira Bedi and Raj Kaushal discovered that after 11 years of marriage they were going to have a baby, it was the highpoint of their lives. “That very special moment when we were overjoyed and hugged each other, was like falling in love all over again. There is no better way to grace the day than to exchange Platinum Love bands, a symbol of true love,” the couple enthused later. They further added, “The most special day in anyone’s life is when you realise that you have found true love, when you know that you and your partner are inseparable.”%% When Bollywood actress Freida Pinto, of Slumdog Millionaire fame attended the London Premier of her new film Trishna, she flaunted a Chopard platinum and diamond cuff bracelet on the red carpet. %% Platinum, the metal of choice of international celebrities and royalty for ages, is becoming a trend statement for the Indian haute monde too. But it is not just celebrities and those from the top echelons of society with whom platinum has found favour. It’s moonlike luminescence has quietly woven its magic around the hearts of general consumers in this country too. %% From a presence in a mere 12 outlets in which it was launched in the year 2000, platinum jewellery now reaches consumers from over 450 doors. Actual platinum consumption figures within the country are hard to come by, and the numbers put out by different sources vary greatly. A media report of August 2011 states, “Platinum (demand) is up 15 per cent this year and market researchers say that the demand for platinum may increase to 15 tonnes by the end of 2010-11 against 10 tonnes in 2008-09.” %% However, platinum industry insiders estimate that India’s current offtake amounts to about four to five tonnes. %% While an IBEF report pegs the growth of the platinum jewellery segment in India at 19 per cent annually, individual retailers say their growth has been anywhere in the range of 25 per cent to 55 per cent, thus indicating that the overall market may be growing at a stronger pace than recorded. %% “There has been great surge in the demand for platinum jewellery and more so for platinum love bands, as it is an expression of true love,” said Paresh Soni, managing director, C. H. Jewellers, Vadodara. “Customers are also choosing platinum over other metals as they are now better informed about of its inherent qualities of high value, rarity and emotional appeal. Although platinum love bands are a hit with couples, other platinum jewellery like simple elegant neck-pieces for women or smart and masculine bracelets for men have also been hot favourites.”%%

In a similar vein, M. Radhakrishnan, managing director, GRT Jewellers commented, “Over the past few years we have seen an increasing demand for platinum jewellery from both men and women. Men are really taking to platinum jewellery. Being a very precious metal, it also offers the buyer an excellent store of value, just like gold.''%% Joy Alukkas of Joyalukkas Jewellery retail chain, which recently launched a new range of platinum jewellery said on the occasion, “Platinum jewellery has come of age in India. The women of today are better informed and thus choose platinum for its inherent qualities of being one of the most precious and rare metals.'' %% Definitely a large part in the success that platinum jewellery is achieving today is the effort made by Platinum Guild International since 2000, when it first set up office in India. Since then, it has not only been regularly studying and researching consumer reactions, it has had an ongoing marketing campaign since then. This includes consumer advertising, which has been greatly stepped up in recent years. From familiarising the consumer with platinum initially to the more focused Platinum Day of Love campaigns, there has been a gradual step up in both the content and the frequency with which the ads are hitting consumers. In a market like India with its widespread culture of arranged marriages, even amongst the younger more modern youth, the Platinum Day of Love campaign has found a special resonance. %% PGI has been quick to use social platforms as well. Earlier this year it launched a Platinum Day of Love contest for which they invited couples to send in their special love story. PGI India later reported that “Within three months of its inception the Platinum Day of Love page had 28000 + fans, the feeds had 3,042,133+ views, and 550+ people shared their Platinum Day of Love stories. Apart from this, every jewellery design that was put up on the page received many ‘likes’ and ‘comments’ and the final Platinum Day of Love prize, when put up, created a lot of excitement.”%% “The PGI has played an exemplary role in promoting this category,” says Sohil Kothari, Director, Fine Jewellery, one of the key manufacturers of platinum jewellery in India. “They have given it a huge boost. The Platinum Day of Love campaign is the largest worldwide generic campaign of its kind today.”%% Apart from the marketing aspect, one factor which has greatly helped the segment is the narrowing of the gap between platinum and gold prices. International analysts point out that from 2000 to 2008, platinum prices ranged between 1.5 to 2.5 times those of gold. In August 2011, the price of gold actually surpassed that of gold and for a time it even traded at 93 per cent of gold. %%

In this scenario, and given that the message that platinum is precious, rare and above all more pure, has been spread widely and well to consumers, it is easier for them to buy into the platinum dream. %% Platinum Guild India has appointed Underwriters Laboratories (UL Inc, USA) to audit and monitor its Quality Assurance Scheme. Under this scheme, all authentic platinum jewellery in India comes with a Quality Assurance Card and bears the purity hallmark of “Pt 950” stamped inside the piece. This also guarantees a ‘buy back’ programme. %% What Pt 950 in effect means is that platinum jewellery in India has 95 per cent purity (comprising 95 per cent of platinum and 5 per cent of alloy metals) while say 18k gold is of 75 per cent purity, and even 22k gold does not reach this level of purity.%% According to the PGI, platinum is also 30 times rarer that gold. It is a metal moreover which does not tarnish or lose its sheen over time, unlike other white metals. %% Apart from this there is a tag of elitism attached to the metal as well, and it has had an aspirational value for some time, especially amongst the younger generation which follows international trends. %% Importantly, another factor that has given a huge impetus to the popularity of platinum jewellery is the maturing of the designing and manufacturing of platinum jewellery. Earlier, more westernised styles and a restricted canvas of designs has given way to an exuberant outpouring of creativity from the group of manufacturers that the PGI works with. This was amply evident at the recent launch of Season 2011 collections by a clutch of different manufacturers. %% The designs fit in well with the women’s range of wardrobe from modern-Indian, to fusion to western. %% The fact that manufacturing techniques have been mastered, and there has been large investment in technology means that manufacturers can exercise a greater flexibility in designing.%% “It is a very difficult metal to work with,” says Kothari. “But it also allows us to do different things which would not be possible with gold.” %% The strength of the metal allows for finer wires and sheets for one. “We were able to design our Cocoon Collection as a result of this property, with the piece being completely hollow from inside” he continues. “We use hollow casting technology for which we have special machines.”%%

At another level, laser etching and laser cut-outs – which give a jaali look – can also be done easily on this metal. “The patterns come out very crisp and sharp,” explains Kothari. “This is again not easy with gold for which you would have to use thicker metal and the delicacy is lost.” %% Kothari also believes that “Platinum is better suited to set diamonds, as it is extremely strong”. With other metals, he says, there is a chance of small bits falling off if brushed against a hard surface and there is also a possibility of losing the stone.%% Umesh Shah, Vice President of Shrenuj and Co. Ltd, and the man who heads the company’s production facility, also stresses the difficulty of working with platinum. “You need special centrifugal machines for pressure casting of molten platinum which is done with centrifugal force,” he says. “Platinum melts at a very high temperature – much higher than gold.”%% The metal is also very sensitive to foreign particles like iron, which might contaminate the metal in the course of working with it. “Your housekeeping has to be perfect,” Shah elaborates. “Otherwise you will end up with faults in a casted piece. If proper care is not taken in the manufacturing process, after polishing you may also find air gaps and dents below the surface.”%% Shah also informs us that there are three steps in the grinding process of platinum – coarse, medium and fine – unlike gold, for which two steps are adequate. %% However, if one is able to cope with its various difficulties, the metal lends itself to a great variety of designs and is also becoming increasingly popular with consumers Shah believes. “In 2003 when we first started manufacturing platinum jewellery, we were doing about seven kg of the metal, now we do over 100 kgs,” says Shah. %% A significant difference also is that when they first started, Shrenuj’s platinum jewellery was entirely export oriented and destined for markets in Japan, Europe and the USA. Today, it is a significant part of its production for the Indian market. The company has also set up a special brand, Diti, which is currently available from 71 counters and will increase to 85 in a few months. “We are the pioneers of platinum branded jewellery,” Shah points out with satisfaction.%%

Touching on another aspect, Shah says, “We took some time to identify what works in platinum jewellery. Now we have developed a good idea of the designs which will be appealing and succeed. Also, the product mix has to also be carefully planned across the country, as different regions have different cultures and requirements.”%% Gunjan Suri, head of the designing team at Shrenuj believes that platinum has a western appeal and is best suited for modern and fusion designs. %% Elaborating on the design possibilities of the metal, she says, “As platinum is a harder metal it is more ductile and malleable. It is possible to go into entire ranges not possible with other metals, like thin wire-framed jewellery. It also takes deep engraved textures much better.”%% Both Shah and Suri believe that for platinum designs, it is better to keep the diamond content low, highlighting the metal instead. “We don’t use much pave,” says Shah. “We use more prong settings.”%% Suri adds, “It is important to keep the metal’s visibility at the fore as it has a beauty and a lustre of its own. For platinum jewellery, it is easier to play with settings, techniques and textures to a greater extent. Hence, the possibilities are so much greater.”%% The enthusiastic designer is also very excited about the team’s attempts at combining platinum with other material. “We have a rudraksha platinum mala,” she says. “And now we are also looking at using gold and platinum in combination and creating two-toned pieces.”%% Shah believes that the tight control that PGI has maintained over the years has worked very well in providing reassurance to the consumer. “There are very few manufacturers and retailers who are part of the PGI programme,” he says. “There is third party checking and the whole chain is well controlled.” %% Ganjam is one jeweller which has decided to tread a different path. Whereas most others manufacturing platinum jewellery produce machine made pieces at lower price points, Ganjam is perhaps the only one which has chosen to deal in handmade, high end platinum jewellery. Ganjam first entered the segment when it started creating platinum jewellery of one of its Japanese clients. “We worked extensively with him, and then we thought why not introduce platinum jewellery in the Indian market too,” says Kumar Ganjam, scion of the famous family and director of the House of Ganjam. %% He explains that they work in two ways: “We design and manufacture pieces based on concepts our in-house designers come up with. Or we create pieces according to the PGI brief.”%%

PGI’s water-based themes have resulted in some stunning pieces as a result – the Cascada (Waterfall) collection of 2006, the Spring Collection and the Riverdance Collection were some of the noteworthy lines created as a result. But Ganjam’s all time wonder is no doubt Iraja (Born of Water) that the jeweller created as part of an international collection – for which designers from different parts of the world contributed – forming PGI’s display at Baselworld 2007. Created out of 450 gms of platinum, 303 diamonds, 550 elements of hand twisted platinum and 840 platinum beads, it was produced using five new pioneering production techniques. A veritable feat of production and an ageless marvel, Iraja’s attraction holds sway even today. %% “Whether it is for competitions or it is an in-house designed piece, each product is one-of-a-kind,” says Kumar, who also looks after sourcing of diamonds and gemstones for the company and supervises all production. “While most other companies offer entry-level pieces, our products are priced at Rs. 5 lakh and above. We use high value diamonds and unique gemstones.” %% The advantage of platinum Kumar feels is that as a result of its high density, it is easier to work with. “We can make hollow items like hollow pipes,” he adds. “And as we get to high level products and larger pieces, we can also impart a lighter look. Also, balancing a piece of platinum jewellery is easier. There is no danger of any parts snapping, and that is a relief when you are making a large item where all pieces are linked together..” %% Clearly most manufacturers feel that the advantages of the metal far outweigh the difficulties it presents while working it. Those working in this segment are equally gung-ho about the future of this segment which is by all accounts only now taking firm root in the country. China has already overtaken Japan and become the largest consumer of platinum jewellery in the world accounting for about a 70per cent share of the world market. Will India, whose share today is relatively very small, get anywhere near that? The betting is open.%%