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Kwiat, Mémoire, Helzberg Receive New PGI Business Grants September 08, 2021 (0 comments)
New York, NY—One retailer and two luxury jewelry manufacturers have been selected as recipients of Platinum Guild International USA’s inaugural business grants. The three—retailer Helzberg Diamonds, and diamond jewelry brands Kwiat and Mémoire—were selected from dozens of applications for the grant initiative. Launched earlier this summer, the grant program was designed to turbo-charge the growth of platinum jewelry specifically in the United States, inspiring manufacturers, designers, and retailers to make platinum an important focus of their business. Image: An engagement ring from retail chain Helzberg Diamonds.
The initial grant funding will be focused in Q4 of this year, allocated towards a series of programs aimed at boosting platinum jewelry sales during the holiday season. From dedicated social media and digital consumer advertising campaigns, to enhanced co-op programs, platinum jewelry will be in the spotlight during the critical sales period. In addition, several of the grant recipients will be rolling out new exclusive platinum designs in time for holiday shoppers.
The reaction from all the recipients highlighted the growth potential for platinum jewelry in the coming months and years.
Julie Yoakum, chief merchandise officer for the Helzberg Diamonds chain, commented, “We see tremendous opportunity in platinum. Our customers embrace this top-of-the-line metal for engagement rings and bands. We are thrilled to partner with PGI to enhance focus around our platinum offerings and grow this part of our business across categories.”
Kwiat CEO Greg Kwiat added, “We believe that the fine quality of the Kwiat brand is synonymous with that of platinum, and by partnering together we can drive demand for Kwiat Platinum jewelry. With the generous support of the Platinum Guild grant, we are excited to launch several exciting initiatives in Q4.”
A flower ring from Kwiat.
“We are immensely proud to partner with Platinum Guild International and this program strengthens our commitment to deliver platinum bands next-day for end consumers,” said Peter Smith, president of CTF North America, parent company of the Mémoire brand. “We have enjoyed strong platinum sales in recent years, and we expect the great synergies between Mémoire and Platinum Guild to drive even stronger results in the coming years.”
Hoop earrings and ring from Mémoire.
Jenny Luker, Platinum Guild International USA president, said, “We were very impressed by the ingenuity and passion for platinum seen in so many of the grant proposals. Ultimately, funds were allocated to three partners whom we felt would catapult their platinum business to the next level, whether that was by expanding platinum production, developing new platinum collections, or growing their retail channels of distribution. We look forward to working closely with recipients in the months and years ahead to further develop programs which will surpass the benchmarks for platinum success in 2022 and beyond.”
Platinum jewelry provides an incremental profit opportunity and can increase the average ticket transaction for the jewelry industry overall, says PGI, adding that because platinum is the most secure setting for diamonds and gemstones, it’s a win-win for both consumers and the industry.