India’s fascination with gold is legendary, but platinum is quickly carving out a niche for itself, especially among younger consumers who want more than just a store of value in their jewellery. High awareness and consideration levels, sustained double-digit growth, and expansion Sujala Martis, Consumer Marketing Director, Platinum Guild India (PGI) It highlights how powerful it has become. We will talk about the evolving consumer mindset and marketing strategies for people with scarcity and value. And emotional metal, and the next wave of growth.
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Platinum is still relatively new in India compared to gold. Has this niche image limited its reach or has it reached a wider market?
While platinum may still feel “niche” compared to its long-standing dominance, gold, it has seen solid and consistent double-digit growth. What may seem surprising is that awareness and consideration has increased rapidly over the past year. Our latest Nielsen IQ study of BrandTrack’s 15 cities shows awareness has increased from 86% to 93%. More importantly, interest in the top two boxes has increased from 82% to 90%. These numbers show that young people. Consumers in particular view platinum as more than just an afterthought, but as something meaningful to commemorate a special moment in their lives, whether it’s an engagement ring, a birthday gift, or a personal purchase that symbolizes a personal milestone.
How has Platinum Guild India been able to expand its distribution so widely, especially given the perception that platinum is an “urban” product?
We’ve always believed that if you build a strong emotional value proposition, you can transcend geography. While metropolitan and tier 1 cities remain our core markets, we are now entering tier 2 and 3 as well, driven by partnerships with national chains, regional chains and independent jewelers. This commitment is reflected in our numbers, with 60% of our retail footprint located in metropolitan areas and Tier-I, 30% in Tier-II and 10% in Tier-III. A key factor is online discovery, with 40% to 58% of digital traffic coming from tier 2 and below cities. These consumers research online, compare designs, understand factors of purity and rarity, and then transact directly on e-commerce platforms or go directly to stores to see the products in person.
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Is there a fundamental shift in the way Indians, especially Millennials and Gen Z, view jewellery?
absolutely. For previous generations, precious metals meant financial security. Emotion and design-driven angles were secondary. Today’s buyers are more concerned with individuality, self-expression, and commemorating important occasions. While gold is considered very traditional and still resonates in many contexts, platinum is emerging as a modern alternative that carries emotional meaning. Our research consistently shows that for both women and men, the top five reasons consumers choose Platinum start with celebrating important occasions and milestones. The elements of design and “gifts of love” also come into play strongly. Additionally, the metal has a sense of rarity and luxury. Therefore, it is clear that we are not just offering price-competitive precious metals, but something that is personally meaningful and valuable. Ambitious.
Do women and men have different reasons for buying platinum, or are their motivations pretty much the same?
A: There is some overlap, but certain nuances stand out. Women often emphasize how unique and modern platinum designs are, appreciating that it is a symbol of love and individuality. This probably reflects a new way of thinking about self-purchasing. Men rely more on the premium and high-quality nature of metals. They also talk about platinum being “rare and precious,” which matches its sense of exclusivity and accomplishment. Still, both groups cited the appeal of the design and the desire to commemorate special occasions, and also noted how it is the “choice of the day.” It feels relevant and modern.
From a marketing perspective, what channels and approaches are key to driving this change?
We live in a highly fragmented media environment, and the path from awareness to purchase is no longer linear. We use television and print to reach a wide audience and create emotional stories, especially around platinum. But digital platforms are very important. Young buyers often discover platinum on social media, seeing influencers and celebrities wearing it. Users click to learn more, engage with our brand stories, and chat with us through direct messaging and chatbots. We’ve found that with a clear educational component that explains platinum’s purity, rarity, and meaning, that curiosity translates into actual sales. Given that so many Tier II and Tier III consumers are discovering brands online, we are also focused on bridging the gap between digital touchpoints and physical stores.
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Where do you think platinum will go next and what should advertisers and marketers be looking at in this space?
We aim for sustained growth as more consumers recognize Platinum’s iconic, design-driven appeal. Although it is a high-grade metal, it is no longer perceived as inaccessible or restricted to major metros. Our double-digit growth trajectory suggests we have plenty of headroom. Importantly for marketers, whether in big cities or small towns, young consumers are looking for more than purely economic rationales when purchasing jewelry. They want storytelling, personal relevance, and assurance that what they buy is truly special. As platinum ticks these boxes and continues to build distribution, refine its digital deployment and emphasize authenticity, the transition from a gold-only mindset to a broader “precious metals” mindset will only accelerate. I believe that.
