Vishmi Wijerathne
Blue Diamond Jewellery Worldwide has taken measures for a market comeback in the next financial year after reviewing the losses the company faced during the previous management.
Blue Diamond Jewellery Worldwide Chairman and Managing Director Henry Xia Liqiang said the company has explored many directions that it can be expanded to.
Discussing the damage control policies taken by the company, Liqiang said among operating issues that was within the company they have also had to face the fallout of one of their main clients due to a misunderstanding regarding the previous management.
“We have purely relied for 98% of orders from one main customer in the Middle East. The balance 2% of orders was from Japan. Thus when the main client decided to stop nearly all of its orders we fell into a very fragile state,” he said.
However, the company has managed to assess previous drawbacks and has planned many measures of making a market comeback in the next financial year. The company which was previously an internationally oriented enterprise is now looking into expanding itself within the local market.
“Having newly come under Section 16 of the BOI regulations, we are now able to carry out
local sales. We also plan to open several showrooms in cities such as Colombo, Kandy, Galle and Negombo as we have realized through a through market analysis that the demand for gem and jewellery within the locality is increasing,” Liqiang said.
He said that they have also decided to move from solely focusing on carbon locked diamond jewellery to the gem and jewellery industry as the demand is rapidly increasing while the demand for the carbon locked diamond jewellery has been rapidly decreasing.
“The gem and jewellery market kept booming, especially for the Chinese market, the prices for gems, such as blue sapphires averagely increased around 30% to 50%, worldwide” He said.
The company also plans to strengthen their relationship with SriLankan Airlines. Liqiang said Sri Lankan Airlines have agreed to market two of their new items while signing up to market six new items in the gem and jewellery range under the ‘FIOR’ brand.
It was also mentioned that they are exploring possibilities to expand into China, Dubai, France and the United Kingdom. “We are building up initial communications with some of the world’s leading companies in the gem and jewellery industry, such as Cartier, Dior, Chaumet and Van Cleef and Arpels.” Liqiang said.
Blue Diamond Jewellery Worldwide has taken measures for a market comeback in the next financial year after reviewing the losses the company faced during the previous management.
Blue Diamond Jewellery Worldwide Chairman and Managing Director Henry Xia Liqiang said the company has explored many directions that it can be expanded to.
Discussing the damage control policies taken by the company, Liqiang said among operating issues that was within the company they have also had to face the fallout of one of their main clients due to a misunderstanding regarding the previous management.
“We have purely relied for 98% of orders from one main customer in the Middle East. The balance 2% of orders was from Japan. Thus when the main client decided to stop nearly all of its orders we fell into a very fragile state,” he said.
However, the company has managed to assess previous drawbacks and has planned many measures of making a market comeback in the next financial year. The company which was previously an internationally oriented enterprise is now looking into expanding itself within the local market.
“Having newly come under Section 16 of the BOI regulations, we are now able to carry out
local sales. We also plan to open several showrooms in cities such as Colombo, Kandy, Galle and Negombo as we have realized through a through market analysis that the demand for gem and jewellery within the locality is increasing,” Liqiang said.
He said that they have also decided to move from solely focusing on carbon locked diamond jewellery to the gem and jewellery industry as the demand is rapidly increasing while the demand for the carbon locked diamond jewellery has been rapidly decreasing.
“The gem and jewellery market kept booming, especially for the Chinese market, the prices for gems, such as blue sapphires averagely increased around 30% to 50%, worldwide” He said.
The company also plans to strengthen their relationship with SriLankan Airlines. Liqiang said Sri Lankan Airlines have agreed to market two of their new items while signing up to market six new items in the gem and jewellery range under the ‘FIOR’ brand.
It was also mentioned that they are exploring possibilities to expand into China, Dubai, France and the United Kingdom. “We are building up initial communications with some of the world’s leading companies in the gem and jewellery industry, such as Cartier, Dior, Chaumet and Van Cleef and Arpels.” Liqiang said.
www.dailynews.lk
No comments:
Post a Comment