Budget gems are dazzling: Stock market ambitions for diamond business Vashi.com

By HELEN LOVELESS, FINANCIAL MAIL ON SUNDAY

Updated: 17:35 EST, 18 January 2014

A website that lets customers buy diamonds and jewellery direct from the manufacturer, so bringing down prices, has proved such a glittering success that founder Vashi Dominguez aims to float it on the stock market in the next year or two.

Dominguez set up his website, which was recently renamed Vashi.com, in 2007 after seeing a gap in the market. The site claims to be able to save customers up to 70 per cent on high street prices.

Rings on sale through the website range from about £500 to just under £2million.

Best friends: Vashi Dominguez sells diamonds worth up to £2million

This year the business, which has a turnover of more than £10million, will launch into ten more countries, including Germany, France, the US,

Canada and Australia. This will be followed by expansion into China and Russia in 2015. 

Dominguez said: ‘Jewellery is expected to be one of the fastest growing areas in e-commerce this year and we believe we are well placed to expand rapidly.’

The firm, based in central London, employs 52 staff.