PRECIOUS METALS TSWANE

industry. Internationally, China, India, and the USA are the world’s top buyers of jewellery, and industry accounts for a significant portion of demand. But in the jewellery space in South Africa, new trends are combining traditional and modern design to bring a fresh style that is in-demand in Mzansi. A consistently strong bridal market, and a constant perception around gold being a ‘safe haven’ investment – a liquid asset – drives continued purchase of the metal. Precious Metals Tswane manufacturers a range of unbranded items which are offloaded on a wholesale basis to retailers for delivery to consumer.

“It’s all wholesale and we do have a few retail customers,” says Wiese. “In Gauteng, we have 160 clients and we manufacture a lot of product – but none of it is branded. We don’t take the risk of having products sitting in a showroom waiting to be purchased. We go higher volume, less margin. We do export but most of our business is in South Africa right now.”

Competing against imports is a challenge. The market lacks manufacturing skills and expertise, and training is expensive and lengthy. Importing products can be easier and quicker. But that has been upended in the past three years. Since the onset of the Covid-19 pandemic, importing goods from the East has become more expensive and more difficult with shipping and logistics in turmoil and pricing disrupted in a way not seen for years. Retailers desperate for product turned to local manufacturers to fill their shelves. Precious Metals Tswane has