Platinum Guild to Award $500K Grant

RAPAPORT... Platinum Guild International (PGI) will award up to half a million dollars to manufacturers, designers or retailers who commit to focusing on platinum jewelry.The money will go to one or more members of the industry as part of a three-year program to develop demand for, and speed growth of, platinum jewelry in the US, PGI said Tuesday. The organization will give out a maximum of $150,000 within the first two years, and up to $350,000 in the third year. Funding is available for any US-based or US-focused businesses that have experience in designing, manufacturing or selling platinum products."Prior to the pandemic, the platinum-jewelry sector of the industry had grown consistently for the past seven years, increasing more than 60% since 2013," said PGI USA vice president Kevin Reilly. "To continue this trajectory, we believe this newly established program will allow for continued growth, taking platinum-jewelry sales to never-before-seen levels."Applications are due by April 30, and funds will be distributed by the end of the year based on a full year of successful execution of the program, the guild added.Image: A woman wearing platinum jewelry. (PGI)