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Manufacture Jewellery Related Articles South Africa

The Manufacture of Jewellery and Related Articles in South Africa 2023

Michael Felton | South Africa | 26 July 2023

Manufacture of Jewellery and Related Articles Industry in South Africa 2019

Helmien Van den Berg | South Africa | 29 May 2019

Manufacture of Jewellery and Related Articles Industry in South Africa 2015

Tasneem Rajah | South Africa | 09 February 2015

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Report Coverage

This report focuses on the manufacture of jewellery and related articles in South Africa and includes information on precious metal production, beneficiation and jewellery fabrication, exports, notable players, corporate actions, regulation and influencing factors. There are profiles of 19 companies including retailers like American Swiss and Sterns, manufacturers such as Oro Africa, Richline and Uwe Koetter and coin producers including the South African Mint Company and Universal Mint.

Introduction

• South Africa is a significant producer of gold, diamonds and platinum.
• Despite the wealth of resources, the jewellery manufacturing industry remains small and South Africa has a long history of failing to beneficiate and add value to its raw minerals.
• Jewellery manufacture and retail sales declined marginally in 2022.
• Revenue growth in 2023 is expected to be strong.
• Although many initiatives have been implemented to encourage competitiveness and to increase beneficiation, growth is hampered by the lack of new entrants, a shortage of skilled labour and challenging trading conditions.

Trends

• Consumers increasingly making high-value purchases online, and jewellers adapting by establishing online stores and leveraging digital marketing strategies.
• Emphasis on local and handcrafted designs.
• Fashion and art trends influencing designers to experiment with unconventional materials, avant-garde designs and innovative techniques.
• Growing demand for jewellery that is ethically sourced and produced.
• Growing male jewellery market.
• Increasing demand for unique and personalised jewellery.
• Popularity of laboratory-grown synthetic or cultured diamonds.
• The adoption of advanced technologies enabling jewellers to streamline production processes, enhance design capabilities and create intricate and precise jewellery pieces.
• Wedding jewellery continues to be a significant driver of revenue.

Opportunities

• Design innovations from South African manufacturers.
• Ecommerce and online platform growth.
• Growing global demand.
• Rich resource base of precious metals, diamonds and gemstones.
• Sustainable and ethical sourcing.

Challenges

• Counterfeit and illegal products.
• Economic volatility and uncertainty affecting affordability and demand.
• Global competition from established players.
• Lack of skilled workers.
• Quality of infrastructure and logistics.
• Regulatory environment.
• Reliance on imports of raw materials, components and machinery.

Outlook

• The outlook will be influenced by economic factors, consumer trends, confidence and disposable income, recovery of the tourism sector and re-opening of international markets, competition and market positioning, digital transformation and government support, policies and regulations.
• Jewellery manufacturing leverages natural resources, has the potential to create jobs and build on growing local and global demand.
• Jewellery consumption is expected to stabilise at approximately 6% growth annually to 2025, which will drive revenue of locally-produced and sold jewellery.
• Increased interest in locally-produced goods and the global competitiveness of local jewellery manufacturers opens opportunities for increased import replacement.
• Multiple challenges have resulted in declines in the value of jewellery exports and the volume of jewellery beneficiation of platinum, gold and diamonds.

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The Manufacture of Jewellery and Related Articles in South Africa
The Manufacture of Jewellery and Related Articles in South Africa 2023

Full Report

R 20 000.00(ZAR) estimated $1087.65 (USD)*

Industry Landscape

R 14 000.00(ZAR) estimated $ 761.35 (USD)*

Industry Organogram

R 450.00(ZAR) estimated $ 24.47 (USD)*

Historical Reports

Manufacture of Jewellery and Related Articles Industry in South Africa 2019-05-29

R 1 900.00(ZAR) estimated $103.33 (USD)*

View Report Add to Cart

Manufacture of Jewellery and Related Articles Industry in South Africa 2015-02-09

R 1 900.00(ZAR) estimated $103.33 (USD)*

View Report Add to Cart

Table of Contents

[ Close ]
PAGE
1. INTRODUCTION 1
2. DESCRIPTION OF THE INDUSTRY 1
2.1. Industry Value Chain 6
2.2. Geographic Position 8
2.3. Size of the Industry 9
3. LOCAL 16
3.1. State of the Industry 16
3.2. Key Trends 20
3.3. Key Issues 20
3.4. Notable Players 21
3.5. Trade 23
3.6. Corporate Actions 28
3.7. Regulations 29
3.8. Enterprise Development and Social Development 32
4. AFRICA 34
5. INTERNATIONAL 38
6. INFLUENCING FACTORS 44
6.1. Unforeseen Events 44
6.2. Economic Environment 45
6.3. Labour 46
6.4. Crime 48
6.5. Illegal Mining and Illicit Dealing in Precious Metals and Diamonds 48
6.6. Infrastructure 49
6.7. Cyclicality 49
6.8. Environmental Issues 49
6.9. Technology, R&D, Innovation 50
6.10. Government Support and Initiatives 51
6.11. Input Costs 52
7. COMPETITIVE ENVIRONMENT 52
7.1. Competition 52
7.2. Ownership Structure of the Industry 53
7.3. Barriers to Entry 54
8. INDUSTRY SUMMARY 54
9. OUTLOOK 55
10. INDUSTRY ASSOCIATIONS 56
11. REFERENCES 57
11.1. Publications 57
11.2. Websites 57
APPENDIX 1 59
Summary of Notable Players 59
COMPANY PROFILES 63
ANPA Jewels CC 63
Big Six Statement Solution (Pty) Ltd 64
Browns The Diamond Store (Pty) Ltd 66
Cape Mint (Pty) Ltd (The) 68
Daberon Manufacturers (Pty) Ltd 69
De Beers Consolidated Mines (Pty) Ltd 70
Foschini Group Ltd (The) 73
Gold Reef City Mint (Pty) Ltd 78
Granadilla Advisory (Pty) Ltd 80
Jenna Clifford Designs (Pty) Ltd 81
Metal Concentrators SA (Pty) Ltd 83
Oro Africa (Pty) Ltd 85
Rand Refinery (Pty) Ltd 87
Richline SA (Pty) Ltd 90
Shimansky Collection (Pty) Ltd 91
South African Mint Company (RF) (Pty) Ltd 93
Studio C Manufacturing Jewellers (Pty) Ltd 95
Universal Mint South Africa (Pty) Ltd 97
Uwe Koetter CC 98

Introduction

This report focuses on the manufacture of jewellery and related articles in South Africa. South Africa is one of the largest producers of gold, diamonds and platinum in the world, with local and export sales amounting to R475bn during 2018, whilst the industry employs 453,543 people in these sectors according to the Minerals Council South Africa (MCSA). The direct contribution of mining to GDP was R356bn. Despite the wealth of gold, diamonds and platinum, South African jewellery manufacturing industry remains small. Jewellery manufacturer’s sales grew 4.1% to R5.3bn in 2017/2018. Although many initiatives have been implemented to encourage competitiveness and to increase beneficiation, growth is hampered in this highly regulated industry by the lack of new entrants, a shortage of skilled labour and challenging trading conditions.

Strengths

• Availability of accredited manufacturing and design courses.
• Availability of locally-mined precious metals and diamonds at determined prices.
• Globally-respected industry and certification.
• Government and mining sectors’ commitment to beneficiation programmes.
• Support of the Jewellery Council and Jewellery Manufacturing Association of SA.

Weaknesses

• An estimated 80% of commercial jewellery is imported.
• High costs and the volatility of gold prices pose high risks.
• Highly regulated industry and red tape deters new entrants.
• Raw materials are exported and jewellery is manufactured in countries with lower and less regulated labour costs.
• Shortage of skilled jewellery manufacturers.

Opportunities

•  Local and international design fairs, competitions and marketing showcasing South African jewellery.
• Access to funding including the R100m Gold Loan Scheme and the Platinum Loan Scheme.
• Growing affluent black middle and upper classes.
• Growing export markets such as China and Hong Kong.
• Growth in online shopping and the development of online partnerships.
• Increased tourism and active marketing of the jewellery industry to visitors.
• Retail chains opening mass production.

Threats

• Illicit diamond mining and selling and blood diamonds.
• Implementation of the Mining Charter.
• Increasing imports of jewellery at lower costs due to cheaper labour and other production costs.
• Increasing volatility of the price of gold and other precious metals.
• Laboratory-grown diamonds.
• Worsening economy and dwindling disposable incomes.

Outlook

Prospects for global jewellery sales remain positive in the short-term. McKinsey said annual global sales are expected to grow at 5% to 6% a year to reach €250bn by 2020 as consumer appetite for jewellery, “which was dampened by the global recession, now appears more voracious than ever”. McKinsey warned that most of the growth in branded jewellery has come from the expansion of established jewellery brands, such as Cartier and Tiffany & Co., and new entrants such as Pandora and David Yurman. “By contrast, future growth in branded jewellery is likely to come from non-jewellery players in adjacent categories such as high-end apparel or leather goods - companies like Dior, Hermès, and Louis Vuitton -introducing jewellery collections or expanding their assortment.” Jewellery manufacturing is expected to remain demanding, globalised and highly competitive, and South African manufacturers will need to remain relevant. In the area of platinum jewellery, where South Africa could create some competitive advantage, demand remains subdued.

Manufacture of Jewellery and Related Articles Industry in South Africa
Manufacture of Jewellery and Related Articles Industry in South Africa 2019

Full Report

R 1 900.00(ZAR) estimated $103.33 (USD)*

Industry Landscape

R 1 330.00(ZAR) estimated $ 72.33 (USD)*

Historical Reports

The Manufacture of Jewellery and Related Articles in South Africa 2023-07-26

R 20 000.00(ZAR) estimated $1087.65 (USD)*

View Report Add to Cart

Manufacture of Jewellery and Related Articles Industry in South Africa 2015-02-09

R 1 900.00(ZAR) estimated $103.33 (USD)*

View Report Add to Cart

Table of Contents

[ Close ]
PAGE
1. INTRODUCTION 1
2. DESCRIPTION OF THE INDUSTRY 1
2.1. Geographic Position 5
3. SIZE OF THE INDUSTRY 6
4. STATE OF THE INDUSTRY 6
4.1. Local 6
4.1.1. Corporate Actions 11
4.1.2. Regulations 11
4.1.3. Enterprise Development and Social Economic Development 13
4.2. Continental 14
4.3. International 17
5. INFLUENCING FACTORS 19
5.1. Economic Environment 19
5.2. Input costs 19
5.3. Cyclicality 19
5.4. Labour 20
5.5. Environmental Concerns 21
5.6. Technology, Research & Development (R&D) and Innovation 22
5.7. Regulation 23
5.8. Illegal Mining and Theft 23
5.9. Information Technology (IT) and Innovation 24
6. COMPETITION 25
6.1. Barriers to Entry 25
7. SWOT ANALYSIS 26
8. OUTLOOK 27
9. INDUSTRY ASSOCIATIONS 27
10. REFERENCES 27
10.1. Publications 27
10.2. Websites 28
APPENDIX 1 29
Summary of Notable players 29
COMPANY PROFILES 32
ANPA JEWELS CC 32
BIG SIX STATEMENT SOLUTION (PTY) LTD 34
BROWNS THE DIAMOND STORE (PTY) LTD 36
CAPE MINT (PTY) LTD (THE) 38
DABERON MANUFACTURERS (PTY) LTD 40
GOLD REEF CITY MINT (PTY) LTD 41
GOLDMASTER JEWELLERY (PTY) LTD 43
GRANADILLA ADVISORY (PTY) LTD 45
JENNA CLIFFORD DESIGNS (PTY) LTD 46
NEWMAN JEWELLERY DESIGN CC 48
ORO AFRICA (PTY) LTD 49
ORPHEO (PTY) LTD 51
RAND REFINERY (PTY) LTD 53
RICHLINE SA (PTY) LTD 56
SHIMANSKY COLLECTION (PTY) LTD 57
SILPLAT (PTY) LTD 59
SOUTH AFRICAN MINT COMPANY (RF) (PTY) LTD 61
STUDIO C MANUFACTURING JEWELLERS CC 63
TASTE HOLDINGS LUXURY GOODS DIVISION (PTY) LTD 65
UNIVERSAL MINT SOUTH AFRICA (PTY) LTD 69
UWE KOETTER CC 70

Report Coverage

The Manufacture of Jewellery describes the domestic sector, highlights current conditions, including government initiatives to promote local beneficiation, and discusses factors influencing the success of the industry. The report profiles 23 role players including the South African Mint Company (RF) (Pty) Ltd, the country’s leading coin maker, which mints legal South African tender and supplies blank coins to other countries. Also profiled are the three largest jewellery manufacturers, OroAfrica, Silplats, and NWJ Fine Jewellery (Pty) Ltd owned by Taste Holdings, which manufactures up to 45% of its products at its manufacturing facility in KwaZulu-Natal.

Introduction

This report focuses on the manufacture of jewellery and related articles in South Africa. South Africa is globally recognised as the wealthiest mineral jurisdiction in the world, but only an estimated 5% of the country’s gold production is beneficiated locally to coins and jewellery production. The South African jewellery market is tentatively estimated at R2bn with 80% of commercial jewellery being imported. This highly regulated industry is operating in an environment characterised by challenging trading conditions, rising input costs, cheaper imports and decreasing disposable household incomes.

Strengths

• Availability of locally mined precious metals and diamonds at world determined prices.
• Government and mining sectors’ commitment to beneficiation programmes.
• Multicultural society with diversity and creativity.

Weaknesses

• Estimated that 80% of commercial jewellery is imported.
• High costs and the volatility of gold prices pose high risks.
• Highly regulated industry and red tape inhibits entrepreneurship.
• Most jewellery fabrication & diamond cutting does not occur locally, but in countries that have little or no mine production of precious metals and diamonds.
• The number of jewellery manufacturers has halved since 2004 and there is now a shortage of skilled craftspeople.

Opportunities

•  The R100m Gold Loan Scheme.
• Designer and niche-market jewellery items.
• Growing affluent black middle and upper classes.
• Growing export markets of China and Hong Kong.
• Growth in online shopping and the development of online partnerships.
• Local and international design fairs showcasing South African jewellery.
• The implementation of the Mineral Beneficiation Action Plan (MBAP), which will mean rights holders will have to offer a certain amount of designated minerals to local beneficiators.

Threats

•  Labour unrest in the mining sector.
• Competition from non-jewellery luxury goods.
• Increasing imports of jewellery.
• Increasing volatility of the price of gold and other precious metals.
• Worsening economy and dwindling disposable incomes.

Outlook

Analysts expect global demand for jewellery to increase given the growth in some developed economies and the potentially higher growth in the emerging economies of India and China. Locally, there are numerous opportunities for the jewellery manufacturing sector but these will be affected by GDP growth, currently predicted by government to reach 2.5% during 2015, increasing to 3% by 2017. However, the current energy crisis and the threat of labour unrest in the mining and manufacturing sectors remain cause for concern. One of the most important factors for jewellery manufacture is the success of the jewellery beneficiation projects and the R100m Gold Loan Scheme introduced by stakeholders. Cost-competitive manufacture and skilled craftsmanship remain vital if jewellery imports are to be reduced and exports increased.

Read More..
Manufacture of Jewellery and Related Articles Industry in South Africa
Manufacture of Jewellery and Related Articles Industry in South Africa 2015

Full Report

R 1 900.00(ZAR) estimated $103.33 (USD)*

Industry Landscape

R 1 330.00(ZAR) estimated $ 72.33 (USD)*

Industry Organogram

R 450.00(ZAR) estimated $ 24.47 (USD)*

Historical Reports

The Manufacture of Jewellery and Related Articles in South Africa 2023-07-26

R 20 000.00(ZAR) estimated $1087.65 (USD)*

View Report Add to Cart

Manufacture of Jewellery and Related Articles Industry in South Africa 2019-05-29

R 1 900.00(ZAR) estimated $103.33 (USD)*

View Report Add to Cart

Table of Contents

[ Close ]
PAGE
1. INTRODUCTION 1
2. DESCRIPTION OF THE INDUSTRY 1
2.1. Industry Supply Chain 2
2.2. Geographic Position 4
3. SIZE OF THE INDUSTRY 5
4. STATE OF THE INDUSTRY 8
4.1. Local 8
4.1.1. Corporate Actions 11
4.1.2. Regulations 11
4.1.3. Enterprise Development and Social Economic Development 13
4.2. Continental 14
4.3. International 15
5. INFLUENCING FACTORS 17
5.1. Government Support 17
5.2. Economic Environment 18
5.3. Labour 19
5.4. Information Technology 20
5.5. Cyclicality 21
5.6. Environmental Concerns 21
6. COMPETITION 22
6.1. Barriers to Entry 22
6.2. Technology, Research and Development and Innovation 23
6.2.1. Technology 23
6.2.2. Research and Development (R&D) 23
6.2.3. Innovation 24
7. SWOT ANALYSIS 26
8. OUTLOOK 27
9. INDUSTRY ASSOCIATIONS 27
10. REFERENCES 28
10.1. Publications 28
10.2. Websites 28
ORGANOGRAM 3921A 29
Jewellery Manufacturers 29
COMPANY PROFILES 31
ANDREAS SALVER MANUFACTURING JEWELLERS CC 31
ANPA JEWELS CC 33
B MILLER & CO 34
BIG SIX DIAMOND DEALERS (PTY) LTD (THE) 35
DABERON MANUFACTURERS (PTY) LTD 37
GOLDMASTER JEWELLERY (PTY) LTD 38
JENNA CLIFFORD DESIGNS (PTY) LTD 40
LIONS HEAD CURIOS (PTY) LTD 42
NWJ FINE JEWELLERY (PTY) LTD 44
OLGA JEWELLERY WATERFRONT CC 49
ORO AFRICA (PTY) LTD 51
ORPHEO (PTY) LTD 53
RICHLINE SA (PTY) LTD 55
SHIMANSKY COLLECTION (PTY) LTD 57
SILPLAT (PTY) LTD 59
SIMON EFUNE MANUFACTURING JEWELLERS CC 61
STUDIO C MANUFACTURING JEWELLERS CC 63
UWE KOETTER CC 65
ORGANOGRAM 3921B 67
Gold Coin Manufacturers 67
COMPANY PROFILES 68
CAPE MINT (PTY) LTD (THE) 68
GOLD REEF CITY MINT CC 70
RAND REFINERY LTD 72
SOUTH AFRICAN MINT COMPANY (RF) (PTY) LTD 76
UNIVERSAL MINT (PTY) LTD 78