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Tag: meghan markle

  • Platinum Jewellery Continues Strong Growth from The Global Wedding Industry

    Platinum Jewellery Continues Strong Growth from The Global Wedding Industry

    Princess Eugenie of York and Jack Brooksbank will marry on 12 October at St. George’s Chapel at Windsor Castle in the United Kingdom, just months after Prince Harry and Meghan Markle signified their love with platinum jewellery, the metal of choice for love gifting.

    The tradition of men wearing wedding rings is said to have started in early 20th during the World Wars, as a way for soldiers to be reminded of their wives and family. However, male royalty typically do not wear wedding bands. Breaking with royal tradition, Prince Harry chose to signify his love and union to actress Meghan Markle with a platinum wedding band. According to the official website of the British Royal Family, both Prince Harry’s wedding band and Meghan Markle’s tiara were set in platinum.

    The current Royal family has a tradition of wearing wedding jewellery set in platinum. Queen Elizabeth’s engagement ring was designed by Prince Philip, with a 3ct diamond set in platinum. Princess Eugenie’s mother, Duchess of York, wore the York Tiara on her wedding day, a platinum piece by Garrard, with leaf and flora motifs.

    Historically, platinum is associated with the best jewellery houses and designers this is due to its strength, never-fading white colour and long-lasting value, platinum is preferred for bridal jewellery setting in many markets, and a platinum crown is the securest way to hold a diamond or gemstone.

    Platinum Guild International (PGI)’s consumer marketing and educational programmes develop awareness and appreciation for platinum’s unique qualities as a precious metal for fine jewellery. Known as pure, rare and eternal, the metal has often been associated with love-gifting, and preferred in the wedding market.

    “Around the world we see key growth and increased popularity for platinum jewellery with relation to the global wedding market. The younger generations see platinum as a metal of love. Looking at the acquisition of wedding bands as well as beyond to love-gifting occasions, platinum is the predominant metal of choice when it comes to precious jewellery to say I love you,” says Huw Daniel, CEO of Platinum Guild International.

    In the United States, the 5th consecutive year of growth for platinum jewellery consumption at 11% in 2017 mainly comes from strong sales in bridal jewellery including engagement rings and wedding bands.

    In Japan, platinum holds an astonishing 92% share of the engagement ring market and 82% share of wedding rings and is continued, dominating the bridal jewellery category.

    In China, platinum is associated with eternal love and has been doing very well in the bridal category and the market has grown 22% between 2014 and 2016 in Tier 1 to 3 cities.

    For young India, PGI is tapping into modern couples’ desire for jewellery that better represents the bonds of love in a modern relationship between equals. Platinum has become the metal of choice among today’s young Indian consumers shaping the country’s culture and fashion.

  • Meghan Markle gives Oroton Label a boost

    Meghan Markle gives Oroton Label a boost

    Embattled Australian accessories label Oroton has hit headlines for good reasons when Prince Harry’s fiancee, Meghan Markle, was spotted with one of its handbags.

    The former Suits actress was sporting Oroton’s Avalon Stripe Crosboody bag, which retails for $295, during a Commonwealth Heads of Government Meeting event in London this week.

    Oroton, which fell into voluntary administration six months ago, has jumped on the opportunity, splashing photos and video of Markle’s entrance to the event across its website.

    “As seen on future Royal, Meghan Markle, at the Commonwealth Youth Forum in London,” the company says on its site.

    The bag has sold out and shoppers will have to wait until August before more stock arrives.

    This type of support from a celebrity, particularly a future royal, is priceless, says retail academic Gary Mortimer of the Queensland University of Technology’s business school.

    “Images of Meghan Markle will permeate social media, including Instagram and Facebook, in coming days,” Professor Mortimer said.

    “The story is being covered by mainstream media and very quickly that particular handbag will be sold out if it hasn’t already.”

    But Prof Mortimer said such strong sales were usually short-lived because consumers were “fickle and are always looking for the next big thing”.

    Debt-laden Oroton called in administrators in late November after making a $14.3 million annual loss because of consistently weak sales.

    It’s among a string of luxury retailers to hit financial strife in the past year, including Topshop, Marcs, David Lawrence, Herringbone and Rhodes & Beckett.

    The company’s stores have continued to operate under administrators and its creditors have backed a $25 million plan to hand control of the company to major shareholder and funds manager Will Vicars.