NEW YORK, July 14 /PRNewswire/ -- There are many reasons for the
wedding industry to celebrate California state Supreme Court's recent
decision to overturn a ban on gay marriage.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080714/NYM118 )
The Williams Institute on Sexual Orientation Law and Public Policy at
the UCLA School of Law estimates that same-sex weddings could generate up
to $683.6 million in additional revenue for the industry over the next
With the current state of the economy, the ruling is particularly good
news for jewelers as same-sex couples look to purchase wedding rings and
wedding jewelry. Many traditional jewelers have already started to cater to
same-sex couples, including Erica Courtney, Catherine Angiel, Furrer Jacot
and Neil Lane, who designed Portia de Rossi's Platinum engagement ring.
Platinum rings are not only the highest quality, but express the importance
of a couple's commitment to each other with the metal that will stand the
test of time beyond all other metals.
"As with heterosexual couples, gay couples see their wedding bands as a
tangible symbol of their love and commitment to one another," reports Gay
Family Support, a gay-rights organization.
WWD West reports that sales for the gay and lesbian online jewelry
resource Love and Pride have increased 600 percent since the ruling.
Though Massachusetts also allows gay marriage, California is the only
state where same-sex couples can obtain a marriage license even if they are
not state residents. The Williams Institute estimates that half of the
state's 102,639 same-sex couples will marry by 2011, in addition to 67,500
"Shreve & Co has embraced the decision of the legalization of gay and
lesbian marriages," says Richard Horne, President of Shreve & Co, the San
Francisco based luxury jewelry store. "We have had an increase in
customers, as many gay and lesbian couples are coming in to purchase their
wedding bands. Platinum bands have been the most popular, in particular the
Furrer Jacot bands. The ring choice has been a matter of individual style
but Platinum designer rings have been the most prevalent."
Jack Kyser, Senior Vice President and Chief Economist of the Los
Angeles County Economic Development Corporation, expects the weddings to
offer a significant boost to the state's tourism industry.
According to media and entertainment company Planet Out, gay consumers
earn 20 percent more than straight consumers, and spend approximately 10
percent more on their weddings.
"With a projected $641 billion in purchasing power and higher
discretionary spending patterns than mainstream consumers," states Harris
Interactive, a market research company, "the gay, lesbian, bisexual and
transgender (GLBT) market segment has become an important target for some
of the biggest brands."
Hotels, wedding planners and vendors in California obviously stand to
benefit from the ceremonies, but jewelers from around the world have a
unique opportunity to target this sought-after demographic through direct
ad campaigns and the Internet.
About Platinum Guild International USA
Platinum Guild International, the marketing arm for the worldwide
Platinum jewelry industry, is dedicated to promoting Platinum and its pure,
rare and eternal qualities to the consumer and the jewelry trade. PGI has
offices in each of the world's major jewelry markets, providing
information, assistance and education on all aspects of Platinum jewelry.
For further information please visit www.platinumguild.com.
SOURCE Platinum Guild International USA