Platinum Guild Announces Latest Grant Recipients
Platinum Guild International (PGI) is awarding 2024–2026 business grants to A. Jaffe; Frederick Goldman; Misogino by the Jewelex Group; and Robbins Brothers. This is the second round of grant recipients in a PGI business development program introduced in 2021 to turbocharge the growth of platinum jewelry in the United States:
“We were overwhelmed by the response we received for this round of our platinum business development grant program,” said Kevin Reilly, senior vice president for PGI USA, in a statement. “The recipients of the grant are companies with a rich heritage and generations of successful business in the jewelry industry, with a particular focus on the relationship jewelry category.
“Our consumer research continues to inform us that nearly 70% of consumers desire platinum for their engagement rings and wedding bands, but significantly fewer buy platinum,” said Reilly. “We anticipate great success from these companies as they use the funds from this grant for integrated marketing efforts to close that gap between platinum desire and acquisition. The opportunity is vast.”
Grant recipients in the initiative’s first round—Helzberg Diamonds, Memoire, and Kwiat—grew their platinum sales by 50% to over 900% compared with the period preceding the grant, according to PGI.
Bonas Teams With DelGatto on New Funding Model
Bonas Group and the DelGatto Diamond Finance Fund have partnered to offer a new funding model for junior and midsize miners in southern Africa and beyond.
Run-of-mine (ROM) diamond productions delivered to DelGatto’s office in Johannesburg or to Bonas’ in Dubai will be valued by Bonas using its proprietary price book and sorted to create desirable lots for sale. Miners will be entitled to receive immediate funding from DelGatto on the basis of that valuation; the rough is sold at Bonas Group’s tenders in Antwerp or Dubai.
ROM colored gemstone productions sent to DelGatto or Bonas will also be analyzed and sorted by Bonas, with viewings for the colored gemstones tenders held in Bangkok.
Bonas Group notes that there may be a time gap for small ROM productions, due to the minimum total value required to make a tender viable and worthwhile for all parties involved.
“This is the first time in our industry that small to midsized miners will have the ability to receive financing with a built-in sale structure and schedule,” said Bonas Group CEO Charles Bonas in a statement. “We are excited to bring this innovative solution to players at the top of the supply chain.”
Top: Diamond wedding bands in platinum by Robbins Brothers, one of the recipients of the 2024–2026 Platinum Guild International USA business grants (photo courtesy of PGI)
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