As platinum gains popularity in India, the Platinum Guild India expects to see the number of outlets going up from 800 now to over 1,200 by March 2016.

Vaishali Banerjee, India Manager of Platinum Guild India, told Business Line that within a short span, India has become the fourth largest market for platinum jewellery in the world and this can only get bigger as more and more youth take to this precious metal.

The growth in India has been particularly rapid in the past 5 years and has grown to over 5 tonnes last year as against about 400 kg in 2008. This speaks volumes of how young people are embracing Platinum jewellery, whose trade is getting extremely organised with big retail stores setting up exclusive zones for display of platinum jewellery, she said.

What started with platinum couple bands has gradually gained with men’s jewellery spanning chains and bracelets and now has grown into the Evara range of bridal jewellery segment. Introduced about six months ago, it is gaining popularity as its charm is in co-existence with popular gold jewellery in India. Though gold jewellery is top on agenda when it comes to bridal jewellery, a number of youngsters are taking to platinum jewellery, she said.

Vaishali said, “We are pleased at the way Platinum Evara has been received by the consumers and the trade, as platinum symbolises love and resonates well with the new bride and groom. There is huge appeal for platinum amongst youngsters.”

JOS ALUKKAS ON EXPANSION DRIVE

Varghese Alukka, Managing Director of Jos Alukkas Jewellery, told Business Line, “From 34 stores in the Southern market, we are looking at growing this to 50 stores in the next two years.”

Newly-wed Bollywood actress Dia Mirza and her husband Sahil Sangha were blessed by her mother Deepa Mirza with Platinum Evara jewellery. “I fee truly blessed to receive this gift from mom and will treasure my platinum Evara forever,” she said.

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