VASHI is one of the UK’s best known diamond jewellers, founded by diamond expert, Vashi Dominguez in 2007. With its unique supply chain model, the company is able to generate gross margins that are more than three times greater than its leading online competitors.
The Company was recognised by the European Business Awards as one of the top 100 businesses in Europe in 2013/4.
Since its rebranding in 2013, the company has seen organic sales rise dramatically, completely replacing paid-for (PPC) sales. In the same period gross margins have increased by 10%.
“VASHI is clearly a business with a track record over several years already, of sustained and rapid-growth, in a market with good potential – this is inherently attractive” Rolf Hickman, private investor
The company’s experienced management team has rapidly built up brand recognition and celebrity endorsement. VASHI is looking to further scale up the business through a muti-channel offering that will allow customers to enjoy the in-store experience, in addition to the existing online channel.
VASHI is seeking to raise £850,000 in this EIS eligible round, at a pre-money valuation of £6.0 million. Approximately £450,000 has already been raised, including a £200,000 convertible loan note. VentureFounders will be supporting this round with a £315,000 raise.
The proceeds of this fundraise, in addition to the investments already raised from existing investors, will be used to expand the Company’s successful pilot to full-scale stores and concessions, as well as new branded exclusive collections.
- Company number:
- Incorporation date:
- Oct 2007
- Company type:
- Private Limited
- Registered Address:
DIAMOND MANUFACTURERS LTD
90 LONG ACRE,
LONDON, WC2E 9RZ