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  • Writer's picturelustredesignco

Shining through the facets of the economic downturn - an insight into the gem industry.

Updated: Aug 5, 2022

Sri Lanka is home to a variety of gems that are a combination of beauty and rarity. Due to this collection of jewels embedded in the land we live on, our nation has gained immense popularity for the worth and richness of gems produced in Sri Lanka, attracting merchants and interested gemmology professionals from all over the world. This continued trade in gem and jewellery has gathered historical and cultural heritage value to the industry, and hence adds prestige to gem cultivation in Sri Lanka. Some of the most popular precious and semi precious gems, such as emeralds, sapphires, and garnets seek homage in the island's gem deposits which are said to be some of the most dense gem deposits in the world, so much so that 70 out of 200 coloured stones are said to be cradled within the confines of this land, making Sri Lanka recognises as one of the top most countries in the world for gems.

Over the years, this blessed privilege has evolved into a multifaceted trading scheme with constant development through windows of opportunities that pave the way towards a forseeable future. Whilst cleaning and polishing gems has always been a priority on the agenda for trading gems, in recent times the emergence of quality gem cutting and the desire to possess unique cut gems has opened doors towards a new venture into this traditionally grown industry. This has attracted more tradespeople and merchants towards the Sri Lankan gem collection, delivering a package par excellence comprising precious gems, styled to perfection.

Due to the pandemic, preceded by the unfortunate grievances of the Easter Attack and followed by severe economic downturn, the entire nation was to face dire conditions with low supply of essentials leading towards slow functionality and hence, slow growth. During unprecedented times like these, gem traders and specialists in the field who owned gem businesses for years, faced the repercussions of economic decline, yet rose to the occasion but venturing into exporting gems in order to form a steady pathway of cash inflow into the country.

Lustre, as a brand which redefines gem cutting by bringing in a modern flair to an age old craft, contributed towards the purpose of exporting gems by introducing new, unique and simply beautiful gem cuts and styles which bring out the best in a stone. The ideology behind creating something magnificent, was to do something different, something that no one had done before but would be loved by all, and thus produced collection after collection of well thought and executed designs which weren't just an epitome of mesmerisation, but also an illustration of effort and creativity.

Additionally, Lustre also focuses on opening opportunities for the youth to bring in a surge of fresh lapidary talent which could be utilised to carve the future of this industry. This didn't only provide a platform for the youth to exercise their skill, but also gave them steady income to depend on during economically challenging times. This was an initiative of hope to bring about much needed change, and the hope that we cling onto to for a future as bright as gems for our beloved nation.

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