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Global Platinum Jewellery Market Rebounds, Driven by Surging Demand in China and Resilience in Key Markets

The global platinum jewellery market showed strong recovery in the first quarter of 2025, according to Platinum Guild International’s (PGI) latest Platinum Jewellery Business Review. Growth was led by a sharp rebound in China and steady gains in India, alongside positive trends in the US, UAE, and Japan.

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In India, platinum jewellery continued to grow despite wider market challenges, including record-high gold prices and the seasonal slowdown at the end of the financial year in March. PGI’s top 15 strategic partners in India posted an average year-on-year platinum sales growth of 7%, supported by in-store activations, digital campaigns such as Platinum Love Bands, and celebrity-led marketing.

China delivered the strongest performance, with platinum jewellery fabrication rising 50% year-on-year in Q1, significantly outperforming gold and diamond categories. The surge was driven by both plain and gem-set platinum jewellery, as jewellers shifted away from gold amid high prices and sluggish diamond demand. PGI reported the opening of over 40 platinum-dedicated wholesale showrooms and the conversion of several gold production lines to platinum. Retail sales rose 16% year-on-year, prompting calls for stronger marketing and new product offerings to sustain demand.

In the UAE, platinum jewellery retail sales grew 25% year-on-year. Platinum now has a presence in 136 stores across the GCC, with PGI’s focused partnerships and campaigns helping to expand the category’s footprint, particularly among South Asian communities.

Japan saw platinum jewellery outperform the broader market for the sixteenth straight quarter. Unit sales rose 1% year-on-year in Q1, driven by discount stores, department stores, and non-store channels. Pendants, necklaces, Kihei chains, and affordable platinum pieces remained in demand.

In the United States, platinum jewellery unit sales rose 19% year-on-year among PGI’s strategic partners, with revenue up nearly 24%. Wedding bands and fashion jewellery led the gains, and some retailers continued to convert inventory from white gold to platinum.

“As consumers increasingly seek meaningful, high-quality pieces at accessible price points, platinum is gaining ground not just in China, but also in key markets such as India, Japan, the United States and the United Arab Emirates,” said Tim Schlick, CEO, PGI. “PGI’s strategic partnerships remain at the heart of this growth story, helping to build lasting consumer connections with platinum.”

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DiamondBuzz

De Beers Group Launches “Heera Hai Aapke Liye” Program at IIJS Bharat Signature to Revolutionize Natural Diamond Accessibility in India

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De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative dedicated to making natural diamonds an integral part of daily life for the modern Indian consumer.

The “Heera Hai Aapke Liye” (Diamonds are for You) program is strategically designed to promote natural diamonds by raising awareness, boosting market visibility,and creating a seamless connection between retailers and consumers. With a focus on modern designs and attractive price points, the program also lets local retailers use De Beers Group campaigns as their own—second-piercing earrings, ‘Bestie’ bracelets, and ‘Intention’ pendants. It positions diamonds as a lifestyle choice for self-expression and daily wear.

Speaking at the launch, Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, detailed the evolution of the brand’s storytelling, stating, “De Beers Group has a rich legacy of creating iconic ritual campaigns that have shaped how the world perceives diamonds. With ‘Heera Hai Aapke Liye,’ program we are evolving that narrative for the Indian market to another level.

We are not just selling jewellery, we are making natural diamonds more accessible and desirable in India. Our goal is to empower retailers through INDRA (Indian Natural Diamond Retailer Alliance)  to ensure that every ‘First Diamond’ journey is as credible as it is beautiful.”

Kirit bhansali

Speaking on the occasion, Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “IIJS has always been a powerful platform for shaping the future of India’s gem and jewellery industry, and the launch of ‘Heera Hai Aapke Liye’ at IIJS Signature reinforces that role. GJEPC is proud to partner with De Beers Group on the INDRA (Indian Natural Diamond Retailer Alliance) project, which is a critical step towards strengthening domestic demand for natural diamonds.

By empowering retailers, enhancing consumer confidence, and expanding access across metros and Tier 2 markets, this initiative aligns perfectly with our vision to grow the natural diamond category sustainably within India.”

The program ‘Heera Hai Aapke Liye’, rests on few strategic pillars aimed at industry growth and scalability:

  • Stocking & New Consumer Opportunity: Identifying gold wholesalers and distributors across 15–20 cities to focus on a first-phase target of 500 retailers.
  • Retailer Advantage: Providing a “Design Advantage” and strict “Product Hygiene,” backed by a clear buy-back policy and robust training and marketing support via the INDRA alliance.
  • Heera Hai Aapke Liye is robust entry-level product kit featuring earrings, bangles, bracelets, etc supported by exclusive visual merchandising (VM) for display.
  • Growth and Scalability: A PAN-India reach strategy designed to unlock new business opportunities for both manufacturers and retailers.

As India continues to grow as the world’s second-largest market for retail diamond jewellery, De Beers Group remains committed to strengthening the natural diamond narrative. By combining the emotional appeal of natural diamonds with the practical “Heera Hai Aapke Liye” framework, De Beers aims to build a sustainable future for the category across both metros and Tier 2 cities. De Beers and GJEPC aim to expand the base of Natural Diamond buyers, increase self-purchase consideration, and establish long-term credibility for the category.

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