Founded in 2007, VASHI is an innovative diamond jewellery retailer that has positioned itself in the market as an accessible luxury brand, somewhere between its luxury competitors and high street name retailers. It prides itself on “selling customers a powerful emotional experience rather than just a product”, according to founder, Chairman and CEO Vashi Domínguez.
VASHI has carved a niche in the industry by catering to a desire to personalise jewellery. “Within the luxury industry, there is a lack of customisation and the ability to do so is often limited and only available at the high end of the market,” explains Vashi. “Personalisation delivers added value to consumers. It offers greater product uniqueness and deepens emotional engagement with both products and brands.” He adds that British millennials are increasingly customising engagement rings, with couples customising them together.
VASHI customers are invited to take a hands-on approach to the creation of their jewellery as they collaborate with the jewellery makers – from initial design through to diamond selection and even stone setting.
The business has won several awards, including UK Business of the Year, as well as being named one of the Top 100 Businesses in Europe, and continues to expand. It has a staff of 100 and is growing rapidly, with the senior team bringing together strong experience in retail, brand, creative and digital marketing. In 2018, the company launched 50 new products, diversifying its core focus on bridal to a wider range of diamond jewellery.
For small businesses starting out, Vashi says there are business opportunities in all fields. “However, you need to have the desire and passion to build a customer proposition that exceeds what is available in the market.”