Bizarrely, while trade media outlets have been notified of these major changes, PGI has yet to publish a corresponding announcement on its own website.
The trade organisation was established in 1975 and acts as a global marketing and development association, funded by South African platinum producers.
Last week, a select number of media outlets reported the PGI's sudden plans for a major ‘restructure’, which includes closing offices in the US, Japan, South Korea, and Hong Kong.
It's said that dedicated operations will continue in China and India from 2027 onward.
Strangely, the PGI’s website makes no mention of this important news. In fact, the most recent news item was posted more than a month ago. It was a 'celebrity' story about platinum jewellery being worn at a US television awards show; however, the website still makes no mention of the significant restructure of the organisation.
The same is true of the organisation's LinkedIn account which has close to 2,000 followers. The page links to previous website updates but does not mention PGI's major restructuring.
The decision to shutter the US office in particular is curious, as it would seemingly contradict at least one report published by the PGI last year that revealed platinum continued to ‘outpace category benchmarks’ in the world’s largest luxury market.
That report suggested that in the US, demand for platinum increased by 6 per cent in 2025, contrasted with a 10 per cent decline in demand for gold jewellery.
PGI has promoted platinum in the US since 1992 and, in a statement distributed to trade media, regional president Jenny Luker said the organisation remained committed to working with global industry partners.
“PGI will continue to support the global industry through its education platforms, technical expertise, market intelligence, standards leadership, and industry partnerships, while retaining the flexibility to collaborate on high-impact opportunities wherever they emerge,” she said.
Quits "Australasian market" before getting started
This latest shock news follows another sudden decision to cut ties with the Jewellery Industry Network and withdraw from the Jewellery Industry Fair.
In April, the PGI announced the Australian launch of its ‘Certified Jewellery Professional’ program, stating that it "signals a meaningful step forward for professional development across the Australasian market."
However, only 10 weeks after the announcement, PGI management effectively quit the country before the project even started.
This was despite a subsequent promotion in June declaring:
- "The launch of the Certified Jewellery Professional (CJP) program through a partnership with the Jewellery Industry Network (JIN) is introducing a more formalised and comprehensive approach to jewellery retail education across Australia and New Zealand”.
On 30 July, Zhenzhen Liu, director of global corporate marketing, told Jeweller, "PGI is no longer pursuing commercial activities in the Australian market. PGI therefore has no ongoing commercial relationship with Jewellery Industry Network or any other Australian jewellery industry bodies.”
The decision followed an investigation into the $14 million collapse of companies associated with the founding directors of the Jewellery Industry Network - Laura Moore and Angham Andy Phanthapangna.
One of the liquidated companies associated with Moore and Phanthapangna was a children's charity.
Liu had previously told Jeweller that “PGI seeks to embody the highest professional standards and applies due diligence across the activities, partnerships and promotions. Protecting the integrity of our work and our reputation is fundamental to how we operate.”
Contradictory messaging
The country office closures come despite a positive outlook for the white metal.
In June 2026, CEO Tim Schlick presented the PGI’s annual Platinum Jewellery Business Review and reported that platinum jewellery recorded increased sales in 2025.
PGI published this detailed report on its website; however, in what may be another example of confusing messaging from the organisation, the accompanying article appears to be incorrectly dated 2 June 2025, despite covering platinum jewellery sales across multiple key markets for the entire calendar year.
That aside, Schlick notes, “Despite significant challenges, platinum jewellery was able to deliver growth across all markets, generating the highest demand level since 2019.
“While the world was being disrupted profoundly, the key platinum jewellery markets responded with remarkable resilience.”
PGI’s US, Japan, South Korea, and Hong Kong branches will close in December.
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