New York (December 2006) - Platinum jewelry continues to provide a strong profit center for savvy jewelers across the country.  In fact, according to The Cost of Doing Business Survey, 2006 from Jewelers of America (JA), Platinum jewelry's gross margin, at 50 percent, surpasses the national average and ranks above a variety of other jewelry categories including loose diamonds, diamond jewelry, timepieces and watchbands as well as estate/antique jewelry.

Platinum's image on a cultural touch point standing for the very best, and its value as the preeminent precious metal - hence its premium price - not only raise a consumer's esteem of stores that carry a well-stocked selection, but augment a jewelers' profits along with a sales associates' commission by pushing higher transaction sizes.

The "halo" - support that Platinum provides to retailers is more pertinent today than ever before, as the JA survey also highlights a drop in 2005 median sales growth.

The increasingly competitive market that has emerged over the past few years suggests an enormous opportunity for retailers to take advantage of areas that can help them during these tighter times:
. Areas that maintain higher gross margins combined with higher price points in order to maximize profit dollars made on the sale.
. Non-seasonal merchandise that augment sales opportunities throughout the year such as bridal (engagement ring sales can help grow long-term customer relationships and immediately provide at least 2 other short-term sales opportunities in the wedding bands, and long term opportunities in anniversary).
. Categories of high consumer desirability (Platinum's consumer desire rates at 81% among bridal customers, according to Condé Nast Bridal Goup).
. Designer merchandise and brands that are unique in your area and harder for consumers to purchase elsewhere.

These areas, combined with a well-educated sales staff who are knowledgeable on the properties and qualities of your merchandise and highlight the value provided by your store can help build a business.  Marc Fink, President and CEO of Fink's Jewelers finds this combination of elements a winning recipe, and credits the combination for a reported 16 percent increase in Platinum jewelry sales since 2005.  "At Finks, we sell on value, not on price. We know that Platinum is the quintessential metal for bridal jewelry because of its purity, rarity, and because it's meant to be worn for a lifetime. Our sales team effectively communicates those values to our customers." 

Platinum is prized for its Pure, Rare and Eternal qualities:

PURE: Platinum's high level of purity (generally 90%-95% pure) endows it with both a natural white luster, allowing the true radiance of a diamond or gemstone to shine; and hypoallergenic qualities that prove ideal for sensitive skin. Only the purest Platinum jewelry will bear a stamp reading

"PLATINUM", "PLAT", "Pt 950", or "Pt 900", signifying the jewelry is 90% to 95% pure Platinum.

RARE: Platinum is 30 times more rare than gold.

ETERNAL:  Platinum will hold a diamond or gemstone securely, now and for always.

Contact:
Andrew Michaels
Platinum Guild International USA
(212) 404-1604 / amichaels@pgiglobal.com