THIS UGADI, WELCOME THE NEW YEAR WITH RARE & PRECIOUS PLATINUM JEWELRY

20th March 2023

Ugadi, the festival of new beginnings, calls for a gift that’s as precious and timeless as the occasion itself. And what could be better than the gift of pure and precious platinum? This rare and valuable metal has its origins in the stars and is renowned for its ability to withstand daily wear and tear without losing its luster or shape. Lets’ have a look at what the stalwarts of the Gems & Jewellery Industry have to say…

“Ugadi” is a significant Hindu festival that marks the beginning of a new year, and it has its roots in the ancient Sanskrit language. The word “Ugadi” is derived from the combination of two Sanskrit words, “yuga” and “adi,” which symbolize the start of a new era. The festival is celebrated with immense joy and devotion, primarily in the southern states of India including Andhra Pradesh, Telangana and Karnataka.

With a purity level of 95%, its durability and versatility, platinum jewellery is an ideal choice for those looking to purchase or gift jewellery on the occasion of Ugadi. These very attributes make platinum a symbol of enduring love and commitment. Whether it’s a pendant, a ring, or a bracelet, the gift of platinum is sure to leave a lasting impression on your loved ones.

Commenting on this auspicious occasion, Vaishali Banerjee, Managing Director, Platinum Guild International-India said, “Festivals in India bring a renewed sense of energy and spirit to consumers, who celebrate with great enthusiasm and excitement. These occasions mark new beginnings and positivity, with consumers increasingly looking for meaningful purchases to commemorate the occasion. We have seen a significant uptick in demand for platinum jewellery during these festivities. The upcoming festivities offer a positive outlook for sales, setting the stage for a great footfall in the next quarter for our retail partners.”

Joy Alukkas, Managing Director, Joyalukkas India Ltd, “Ugadi marks the onset of a new year and envelopes the country in a warm festive embrace. We foresee a positive consumer outlook for platinum jewellery it makes an ideal choice to celebrate this auspicious festival symbolising prosperity”.

Rajesh Kalyanaraman Executive Director of Kalyan Jewellers, “As we welcome the new year with a positive outlook and the festive spirit of Ugadi, we are witnessing a positive buying sentiment for platinum jewellery. The increase in footfall across stores is expected to translate to a significant rise in sales volume. We are optimistic about the upcoming festive season and expect to begin this new year on a high note.”

Dr. B Govindan , Chairman, Bhima Jewellery, “We are confident that Ugadi will be a fruitful occasion for us as we are witnessing heightened interest from consumers for various platinum jewellery pieces such as neckwear, bracelets and rings. Enthused with this response we are expecting the demand momentum to continue.”

G.R. ‘Anand’ Ananthapadmanabhan, Managing Director, GRT Jewellers, “Ugadi marks the beginning of a new year and offers an opportunity for a fresh start. There is a strong sense of positivity felt among our consumers as they get ready to celebrate this festival with much fervour and excitement. We anticipate strong demand for platinum jewellery to mark this important festival. We continue to see a growing preference for trendy, daily wear, platinum jewellery driven by the younger segment and expect this trend to accelerate through the season.”

G.R. Radhakrishnan, Managing Director, GRT Jewellers, “Ugadi marks the beginning of a new year in Andhra Pradesh, Telangana & Karnataka and is celebrated with huge fanfare. Being a festival of prosperity and abundance, people prefer buying jewellery for self-purchase as well as gifting.”

Paul J Alukka, Managing Director, Jos Alukkas, “Ugadi holds a symbolic significance as a festival of new beginnings and a harbinger of prosperity. It is viewed as an auspicious occasion to purchase gifts for the family and loved ones. We have seen that platinum makes for an ideal gift to commemorate this festival, especially among younger consumers. We are optimistic that Ugadi will create a positive momentum that will carry forward through the festive season.”

ABOUT PLATINUM GUILD INTERNATIONAL (PGI)

Platinum Guild International (PGI) is a marketing organisation with the vision to develop the global platinum jewellery market as a new demand source for platinum. It was formed in 1975 with specialist teams dedicated to growing the global platinum jewellery market through consumer and trade-facing programmes in the four key jewellery markets of China, India, Japan and USA. Since then, jewellery development has demonstrated a strong track record in delivering results. Through various programmes, both direct-to-consumer and in collaboration with Jewellery retailers and manufacturers, PGI creates consumer ounce demand by first identifying opportunities for platinum in jewellery, and then developing them with partners. It also aims to build an enduring commitment to platinum in jewellery. PGI’s consumer marketing and educational programmes are focused on developing awareness and an appreciation for platinum’s unique properties as a precious metal for fine jewellery.

In addition, PGI works globally with collaborative partners running extensive marketing programmes in the four main platinum jewellery markets of China, Japan, USA and India. These markets are staffed with experts in strategic planning, marketing, retail, design and business development. Since 2015 PGI has been headquartered in Hong Kong. PGI is funded by the leading platinum producers of South Africa, as well as through co-funded programmes with the jewellery industry.

PURITY ASSURANCE PROGRAM

PGI has partnered with TUV India Pvt Ltd to implement a robust audit programme to ensure the purity of platinum under its programme. TUV is one of the country’s first certification bodies and has been closely associated with the quality revolution in India. Under Platinum Guild India’s quality assurance programme, each individual piece of Jewellery has an assured purity as high as 95%. And as a proof of this assurance, every piece is stamped ‘Pt950’ and comes with a tamper-proof quality assurance card that distinguishes authentic platinum from other jewellery. A Unique Identification Number is also stamped on the jewellery in addition to the detailed description of the piece you choose for yourself. Our quality assurance programme is in place to ensure transparency and that the platinum the consumer buys is of the highest quality. After all, that is what true value is all about.