After 88 years of quality service, LSM vows to maintain high standards, affordable prices

There’s a well-known saying that “diamonds are formed under pressure,” and this perfectly reflects the journey of a family-run business: L. Seepersaud Maraj & Sons (LSM), which was established some 88 years ago and had operated in the Stabroek Market.

This jewellery store opened its more convenient location at Middle Street, Georgetown on Saturday, and this development marks a new chapter for the Maraj family. Proprietor of the business, Vead Persaud, spoke with this publication on the history and future of this household name in jewellery.

According to Persaud, the business was started by his grandfather in the Stabroek Market in 1935, and this is the first time it has moved to a new location.

“Our establishment has been around for the last 88 years. This is actually the first time we’ve moved outside of Stabroek Market in the brand’s history. LSM Jewellers is an independent venture, distinct…and showcases more modern, intricate craftsmanship,” he detailed.

Giving an in-depth background into the genesis of the business, he related that, over the years, the business has always experienced competition.

“Competition is one of the biggest challenges,” he said. “The jewellery industry has evolved, shifting between traditional and modern styles over the years. It’s like fashion; it’s always changing.”

The business is now  being led and guided by the vibrancy of this young and dynamic leader who relayed that LSM Jewellers is set to offer patrons a more intimate and modern jewellery experience.

“We’ve always been able to adjust adaptively to the market’s needs,” he declared. “Here, at LSM Jewellers, we can do anything: from traditional to modern, and anything in-between. It’s about offering a more intimate custom jewellery experience. However, we maintain the Stabroek Market prices even outside the market,” he explained.

Renowned for traditional items such as bangles, the business has recently gone into making diamond-styled pieces, with the owners having even invested in new machinery to train their craftsmen to use the latest technologies in creating high-quality diamond jewellery.

However, just for its patrons, the business has gone to lengths to make hand-made gold items through a skill derived from India and passed down by the indentured labourers who came to Guyana. The Maraj family, having adopted this tradition, started to mass produce items in Guyana.

“However, we still do the filigree handwork, and we’re one of the jewellers in the country who still maintain this technique; but our specialty beyond that is diamond jewellery and custom-made pieces,” Persaud explained.

Asked about the sourcing of gold and diamonds to make these products, Persaud emphasised how important it is for his business to purchase materials from legal authorities. “The gold we use is purchased from the Guyana Gold Board, and the diamonds are sourced from multiple locations. Everything is done in-house, and almost all of our items are handcrafted locally. This ensures the best quality in gold and diamond jewellery,” he said.

Persaud has currently set his sights on the future of his company, and has revealed plans to expand the range of his business. “In the future, we plan to expand our range and continue to adapt to market demands. For now, we’re focusing on modern intricate designs. Whatever design you may have in mind, we can likely create it for you,” he declared.

In regard to pricing, Persaud is assuring customers that LSM Jewellers offers affordable prices for customers. “Our prices start as low as $20,000, and they can go as high as you’re willing to spend. We’ve always maintained Stabroek Market prices, even at this new location. I know many Guyanese in the diaspora visit us specifically for the same quality items at affordable prices. We’ve made it easier for them by bringing the same products to this new location,” he explained.

“I’m confident that when they shop with us, they’ll find the best prices on the market. As an emigrant from Canada, I came back to Guyana because I believed in the potential of Guyana’s economy, and we knew it was the perfect time to make such a large investment,” he disclosed.

As this family-run business continues to expand, Vead Persaud is emphasising that this venture is a significant investment, one that reflects both his confidence in the economy and his commitment to offering high-quality, modern jewellery to the public.