Sri Lanka-based Blue Diamonds Jewellery informed shareholders that it will create a subsidiary in Singapore in order to establish a retail presence there and to create an e-commerce channel. The subsidiary will be a joint venture with ECL Soft Ltd., which is owned by E-Channelling Plc.
Blue Diamonds Jewellery was established in 1991 and manufactures diamond jewelry using its ”Floating Diamonds Setting” process. The company’s brands include Sicille, Fior-Drissage and Fior. The company is a board-of-investment-approved-project by the government of Sri Lanka and is situated at the Katunayake export-processing zone. Blue Diamonds opened a flagship jewelry store, Fior Dirissage Jewellers Ltd., one year ago in Sri Lanka.