JEWELLERY SECTOR
Compiled by Tamara Rebeira
EMBODIMENTS OF TRADITION
Athula Eliyapura highlights the jewellery sector’s unique global positioning
Q: What role do you think Sri Lanka’s jewellery sector plays on the global stage? And what can local organisations do to promote our reputation as a leading supplier of luxury jewellery?
A: Sri Lanka’s jewellery sector is renowned for its craftsmanship and rich heritage, playing a vital role in the global market as a supplier of exquisite high quality designs.
To strengthen this reputation, local organisations should focus on sustainable sourcing, innovations in design and showcasing our products at international exhibitions.
Leveraging digital platforms to reach a wider audience and collaborating with global fashion influencers can enhance Sri Lanka’s standing as a leader in luxury jewellery, blending tradition with contemporary appeal.
Q: How has the demand for luxury jewellery and gems evolved – both locally and internationally?
A: Over the past few years, the demand for luxury jewellery has seen significant shifts locally and internationally.
Globally, there is a growing demand for ethically sourced gemstones and jewellery pieces that are unique, personalised and meaningful. Consumers are increasingly drawn to luxury items that reflect craftsmanship and authenticity.
In Sri Lanka, traditional designs remain popular, particularly in the bridal segment. However, younger generations are looking for modern minimalist pieces that blend contemporary trends with cultural significance.
This evolution in demand challenges jewellers to innovate, creating collections that appeal to a wide demographic while staying true to their heritage.
Internationally, there’s also been an uptick in demand for investment grade jewellery, as more consumers view fine jewellery as an asset class that holds long-term value.
Q: And how should jewellers combine traditional craftsmanship with modern design trends to meet evolving consumer preferences?
A: The balance between traditional craftsmanship and modern design is essential for jewellers in today’s market. Sri Lanka’s strength lies in its centuries old craftsmanship and it is crucial to preserve this heritage.
However, consumer preferences are shifting toward more contemporary and versatile designs – especially among younger generations.
Jewellers should look at creating collections that combine the elegance of traditional techniques – such as filigree or intricate stone setting – with modern design elements like geometric shapes, minimalism and innovative use of materials.
By leveraging both traditional and modern aesthetics, jewellers can offer unique and distinctive jewellery that appeals to a broader audience. Customisation also plays a major role, enabling customers to create bespoke pieces that reflect both personal tastes and cultural significance.
Q: Sri Lanka is known for its sapphires. How has the global demand for sapphires impacted business for jewellers?
A: The global demand for sapphires has been a boon for Sri Lankan jewellers with Ceylon Sapphires being recognised for being among the world’s finest.
This reputation has helped jewellers tap into markets across Europe, the Middle East and Asia where there is high demand for premium gemstones.
Luxury markets, particularly in Asia and the Middle East, have displayed a growing preference for coloured gemstones with sapphires at the forefront. For local jewellers, this global demand has led to increased export opportunities and brand recognition internationally.
This also brings challenges however, such as maintaining supplies to meet the growing demand and ensuring that the gems are sourced ethically.
The sustainability of gem mining practices is increasingly under scrutiny and it’s essential that Sri Lanka’s jewellers continue to prioritise ethical sourcing to maintain their credibility on the world stage.
Q: Amid evolving trends, how should a balance be maintained between the traditional Sri Lankan identity while appealing to a global audience with diverse tastes?
A: Maintaining the balance between traditional Sri Lankan identity and appealing to a global audience is indeed a challenge; but it’s also a significant opportunity.
The key lies in incorporating Sri Lanka’s unique cultural motifs and craftsmanship into designs that resonate with global consumers.
For instance, jewellery inspired by local flora, fauna and historic motifs can be reimagined in a contemporary form. By modernising traditional designs while retaining the essence of our cultural heritage, we can create pieces that appeal to both local and international customers.
Additionally, storytelling plays a crucial role in luxury jewellery.
By sharing the stories behind our designs, the cultural significance of motifs and the craftsmanship involved, jewellers can create a deeper connection with customers, making the pieces more than simply accessories but embodiments of tradition and artistry.
Q: What are the main challenges facing Sri Lanka’s gems and jewellery sector today?
A: The local gems and jewellery sector faces several challenges.
Price volatility in gold and gemstones makes it difficult for jewellers to maintain consistent pricing while dependence on imported raw materials leaves the sector vulnerable to global economic conditions.
Competition from international brands with larger marketing budgets and advanced technology complicates the market even further. Additionally, the growing demand for ethically sourced and sustainable products requires local jewellers to adopt costly changes in operations.
Despite these challenges, the resilience of Sri Lanka’s jewellery sector means that it has the potential to thrive in the world market with the right innovations and policies.
