Diamonds International, one of the largest diamond retailers in the world with over 125 shops, celebrated the official opening of its new flagship store in Cayman on Thursday night.

The new Diamonds International Watch and Design showroom on North Church Street is the company’s third store in the centre of George Town, in addition to Tanzanite International on Fort Street and Diamonds International on South Church Street.

The opening saw approximately 250 guests visit the newly refurbished Diamonds International building.

In addition to its regular jewellery and timepieces, the store featured special museum quality jewellery on display and a portion of the evening’s sales was going to be donated to Haitian relief.

DI owner Morris Gad and Premier McKeeva Bush performed the official ribbon-cutting.

In his address Mr. Bush said he always appreciated occasions to celebrate milestones for a local business.

In the climate of global economic slowdown it was rare to hear about the successes such as this one, he said.

“Our islands are as conducive to successful business as any other jurisdiction,” Mr. Bush stated, saying that it was his job not only to attract business, but also to ensure that those businesses that are here have every opportunity to succeed.

He acknowledged that there was still much to do in terms of business friendly policies as Cayman continues to feel the effects of the recession. Giving Diamonds International as an example, Mr. Bush said Cayman needed to attract new investment which would generate new income and help sustain tourism, even if for some it also meant new competition.

DI owner Morris Gad thanked the government for its welcome and support in this multi-million dollar investment.