Jewellers set up export council to expand market support

A NEW export council for manufacturing jewellers is in the process of being formed by the Jewellery Council of South Africa in response to an initiative of the Department of Trade and Industry (DTI).
The new council will take the form of a section 21 company and will focus on research and development of South African jewellery exports, said Jewellery Council of South Africa, executive director, Claire Minnit.
The DTI will offer financial assistance to the tune of R600000 on a matching grant basis, she said.
Jewellery manufacturers have united with a view to expanding market support for their products and to increases exports, said Minnit.
South Africa accounts for about 1% of world jewellery consumption. Local manufacturers are aware that any real growth is most likely to come from the export market. To this end, and with the support of the Department of Trade and Industry, the Jewellery Council arranged for an Outward Research Trade Mission in September last year where eight leading manufacturers visited England and New York to research those export markets. The results were pleasing indeed. The general feeling was that South African manufactured jewellery is attractive in terms of its styling, quality and price.
In fact, the buyers and mechandisers that were visited, described our jewellery as German quality at Italian prices. Already a number of manufacturers are exporting and we are confident that we will grow this market significantly in 1999, she said.
The South African jewellery market consumes about seven tons of fine gold in a year of which about 60% is imported. The industry primarily services the domestic markets and has about 350 manufacturing concerns.
BY Anna Cox