Q: Could you briefly take us through the evolution of Raja Jewellers and its journey so far?

Ranmini Eliyapura (RE): Initially, Raja Jewellers was founded in 1928 by E. A. Fernando on Chatham Street, Colombo. Then in 1964, his son Raja Fernando relocated to Bambalapitiya and it was rebranded as Raja Jewellers. In the 1980s, his sons took over after his demise. And in the 2010s, we joined – the fourth generation.

Year 2012 was when we opened our Negombo branch and in 2018, the Kandy one was launched. Kiribathgoda will be our fourth branch.

Dr. Tharanga Perera (TP): Speaking of the recent past, we received the prestigious Presidential Award for the Best Gold Jewellery Manufacturer, Highest Hallmarked Jeweller and Best Jewellery Item in 2018. And in 2021, we received a National Business Excellence award. We take pride in being the only jeweller to have received that award.

Q: What are the latest trends and innovations in the jewellery sector?

TP: We see a lot of trends moving towards international branded designs in the jewellery sector – i.e. top tier brands like Cartier and Van Cleef. It is particularly the younger audience leaning more towards these international branded designs.

The good thing is that whoever comes to Raja Jewellers can get customised jewellery with simple and elegant designs. We have a range of collections in our product portfolio to cater to a variety of customers in our showrooms. These include our Diamond, Sapphire, Ceylon Stone, Bridal, Workwear and even Gents range collections.

RE: Customers can get items that are very similar to branded ones. They can find these either in showrooms or customise items based on how they want them. Sometimes when a customer takes a Cartier bangle, he or she likes the look but wants to add some changes so these can be done. We have over 100 craftsmen in our in-house factory so that customers can customise their jewellery.

Q: And what are the key challenges faced by this sector?

TP: The main challenge we face now is the economic crisis in the country and people’s spending power. To address this, we offer affordable jewellery in terms of lower weights and simpler, elegant designs.

RE: Our aim for each category – especially the youngsters – is to make it more affordable, not merely high-end. We are looking to maintain the quality but trying to cater to the market to make it more cost effective so that people can invest in gold as they should.

Q: In your assessment, is jewellery a worthwhile investment – especially during a crisis?

TP: If you look at the past few decades, the gold price has always risen – it’s an investment commodity. And if you look at stock exchanges in global markets, you see an increasing trend in gold. That makes investing in jewellery very attractive for people.

Similarly for gems, their scarcity and uniqueness makes them a very valuable investment.

RE: For example, central banks in every country have gold reserves. Gold is like the only liquidable asset in the world. If you take it from Sri Lanka and try to sell it somewhere else, you’ll still get the value of your investment. It’s not like currency – i.e. something that would depreciate or appreciate over time.

Gold is the only asset that we see people being able to invest in and keep safely. It’s not something big like land, a car or something similar.

Q: How would you describe the market competition – and what strategies do you employ to stay ahead?

TP: One strategy is obviously keeping pace in terms of our designs and we are always very vigilant in tracking international trends. We stay on top of this because customers require excellent designs that are customised and brand oriented.

And especially for the younger audience, we’ve also introduced new avenues to obtain jewellery. A couple of months ago for instance, we refreshed our website with a virtual appointment feature. Because of e-commerce websites, the trend is people choosing to order online. We offer virtual appointments for foreign customers as well.

For Sri Lankans or foreigners looking to get their jewellery when they visit Sri Lanka or simply wanting to have it delivered to them, instead of physically visiting the showroom, they can make a virtual appointment where there will be a face-to-face interaction and we can show our designs. We either deliver the items to that country or they can purchase the jewellery at our store.

RE: We take pride in the collections that we offer our customers as well as the customer service experience. Customer service is key in our company and crucial for staying ahead of competition. We also make sure that our staff is always kept up-to-date through seminars and meetings, so that our customers receive the best advice and knowledge through them.

– Compiled by Allaam Ousman
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Telephone: 2586949 | Email: info@rajajewellers.com | Website: www.rajajewellers.com