Blue Diamonds Jewellery Worldwide concludes rights issue with new partnership agreements

Partnership agreement signed with Wise Premium Singapore-based Lifestyle VIP card programme

Blue Diamonds Jewellery Worldwide PLC (BDJW) has successfully got its trading suspension lifted after displaying positive revenue growth and reducing losses for the nine-month period ending on 31 December 2022. The company’s shares commenced trading from Monday, April 17th, 2023. 
BDJW has accomplished a significant strategic move by raising Rs. 129,481,787.13 million through the allotment of both voting and non-voting shares through a successful rights issue, at a subscription of nearly 40 percent. 
“With over a hundred enthusiastic shareholders subscribing to and even opting for additional rights, this resounding show of support demonstrates their unwavering confidence in the company’s management and its future trajectory,” BDJW said in a statement.
Funds generated from the rights issue will play a pivotal role in driving BDJW’s ambitious expansion plans into new and promising markets, including North Asia, China and Singapore as well as expanding into the direct-to-consumer market both online and across Sri Lanka. 
“Raising this capital will allow us to push our boundaries further and enter new, promising markets,” said Manjaree Gamage-Brooker, the company’s CEO. “This is a testament to the confidence our shareholders have in our ability to achieve sustained growth. 
In a significant move towards solidifying its presence in the international market, BDJW has recently secured an impressive initial order from its newly signed up partnership agreement with an established company in Australia. 
The order includes over 330 pieces, that showcase a fusion of the company’s traditional designs and its innovative creations, using their unique floating diamonds setting technique. 

This venture marks an important step for BDJW, as the end-client is a new customer who operates a popular chain retailer of stores located in bustling shopping malls across Australia, opening the brand to a wider audience. 
On the conclusion of the rights issue, the company has also signed two strategic partnerships. The first is with Peacock Beach Resort, Hambantota in Sri Lanka.  
As part of this collaboration, BDJW unveiled the brand-new Peacock range, an exclusive collection specifically designed for them, alongside their range of best-selling Fior Jewellery designs. This 100-room tourist premium hotel attracts a continuous influx of tourists, presenting an excellent opportunity for the company to showcase their exquisite jewellery pieces, studded with natural gemstones crafted by the finest Sri Lankan artisans. 
The second partnership is with Wise Premium, a Singapore-based lifestyle VIP card programme that is expanding in Singapore and across Asia, providing its premium customers a luxury concierge service. 
Approved by Mastercard and allowing its clients to utilise their cryptocurrency for any global transaction, the agreement with BDJW not only covers an estimated 1000 custom pieces by Wise Premium for their customers, up to the value of US$ 100,000 but also gives the company direct access to a new international market.  
In a strategic move to enhance BDJW’s customer relations and data capture, all sales from both partnerships will be conducted through their new website, FiorJewellery.com. 
“It’s a new era for Blue Diamonds Jewellery,” declared Executive Chairman Andrew Lee, at an invite-only investor relations event, wherein both agreements were signed, 
“We are taking Sri Lankan jewellery to the world through strategic partnerships, instead of trying to grow on our own. We are eagerly looking forward to both partnerships’ which carry a potential in elevating our brand and delivering superior value to our esteemed customers,” he added.