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| A one caret Sri Lankan pink
ruby, shown in a size comparison with an American
dime, is ready for setting. |
| Photo by James Overly |
Sri Lanka’s gem industry in recent years has
been primarily a wholesale supplier to Thailand
and other countries, which cut and polish the gems,
then use them in self-designed jewelry. This means
that a great deal of value is added to Sri Lanka’s
gems elsewhere.
That will change, if a new government initiative funded
in part by USAID is successful.
The government, according to Professor P.G.R. Dharmaratne,
Chairman of the National Gem and Jewelry Authority
in Sri Lanka is developing a branding and marketing
strategy for gems and jewelry.
In an effort to tap into the high-end market in the
United States and elsewhere, Sri Lanka has entered
into an agreement with a leading U.S. jewelry designer.
The designer will design jewelry to be made in Sri
Lanka with the nation’s famous blue sapphires.
The jewelry, which will carry a Sri Lankan brand,
will be sold in the designer’s 200 U.S. stores.
Traditionally, Sri Lanka’s marketing efforts
in the U.S. have been limited to attending a gem and
jewelry trade fair in Tucson, AZ.
Sri Lankan gem wholesalers like Srehan Osman, director
of Osman’s Jewelers, welcome the government’s
initiative. “We know the high markup jewelers
get in the States,” he says, “and with a
marketing strategy that’s well supported, we
should be able to penetrate the U.S. market.”
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