Premadasas now sparkle in Russia

Shirajiv Sirimane

GEMS: A leading gem and jewellery manufacturer and exporter, Premadasas, completed 50 years in business.

The company was founded in 1956 in a small shop close to Governor General's Residence in Colombo in Bailey street by the parents of the present President Anand Senerath.

The business grew rapidly due to hard work and earning customer confidence. It also attracted an international elite clientele bringing success every step of the way.

Their then customers were mostly passengers of liners that called at Colombo harbour. Due to the growing demand the company shifted to a bigger showroom in Colombo 3.

The vast success led the Company to invest heavily into their own mines, and employ qualified creative jewellery designers and craftsmen. "Growing customer base from around the world naturally desired innovative designs and quality guaranteed gemstones," said Premadasa Holdings (Pvt) Ltd, President Anand Senerath.

Another significant milestone was the opening of the international airport showroom and the improvement in business in 1960s. They also shifted to larger and luxurious showrooms in Colombo 1, and subsequently opened a showroom in Kandy.

He said that the Kandy showroom had been designed to international standard with live gem cutting demonstrations, view of gem mines and provides a basic knowledge of the industry. "This is being well received by our customers," he said.

He recalled that there had been a continued demand for blue sapphires and in 1994 a 94 carrot blue sapphire was sold at US $ one billion.

He said that one of the other success stories of their company is the dedicated staff that have remained with the company for a long time.

"Our reputation in the trade has encouraged travel companies to bring in their clients for shopping at our showrooms for their needs in precious stones and metals," he said.

Three strong links were added to the company chain with the opening of three new shops in Bali, Indonesia at Aston Bali Resort Spa, Bali Hilton International -Le Meridien Nirwana . "We are planning to open our fourth branch in Bali at the Westin Resort - Nusa Dua in April this year," he said.

The latest of their international chain was the opening of a shop in Russia. Their local branches are located at Ward Place in Colombo, Peradeniya road Kandy and Amaya Hills Hotel, Dambulla.

The company has diversified and have obtained a licence to operate an automobile business in Malawi, Central Africa. A company has been setup in Malawi - (in Central Africa) in the name of Premadasa Auto Trades (Pvt) Limited, mainly aimed to sell second hand vehicles imported from Japan.

He said that as a part of their corporate responsibility they have opened a showroom to sell products of local craftsmen.

"As soon as we accept an item to be sold at our showroom we make their payment," he said. "We know that they come from distant places and asking them to come on another day is very unfair," he said.