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Hailing from Tenerife, Spain, Vashi Dominguez is an entrepreneur, Founder, Chairman, and CEO of Vashi, a fine jewelry brand offering a genuinely unique, disruptive, and omnichannel retail experience. Inspired by his parents’ work ethics, Dominguez wanted to follow in their footsteps and become an entrepreneur from a very young age. Initially, Dominguez started studying law, but after two years, he left law school to build his own business. “While working a part-time job in a local electronics shop in my hometown, I built a small chain of shops and, at the age of 20, had already launched and sold two companies, one in retail and the other in technology,” he recalled.
Fascinated by his grandmother’s jewelry as a child, Dominguez then headed to Belgium to break into the world of diamonds, where he quickly built up a trusted network and gained much-needed insight into the diamond industry’s problems. Witnessing the industry up close made him realize how traditional jewelry houses treated their customers, which left him disappointed. Dominguez felt the fine jewelry experience needed to be extraordinary, but it was actually below average. This ultimately motivated him to establish an environment that treats clients respectfully and invites them into the creation process. So, in 2016, he started his first Vashi store in Piccadilly, London, a city where he has lived since 2004.
Transforming Fine Jewelry
Vashi is pioneering a new way to make personal fine jewelry unique to its customers. The jewelry brand’s commitment to putting its customers at the heart of the jewelry-making process distinguishes it from other fine jewelry brands. Vashi actively encourages people to visit its workshop to become a part of the making, where they can inspect loose diamonds in the store and even take a seat at the bench to set the stones by themselves. They can also collaborate with Vashi’s exceptional design team to create a unique design for a bespoke piece or make their jewelry personal by engraving or adding their favorite gemstones.
The exceptional design team at Vashi distinguishes the company from its more traditional competitors. They collaborate closely with clients to create one-of-a-kind pieces, meeting with them in person or digitally while developing the final design. And when it comes to the brand’s ready-to-wear collections, they ensure that every piece can be made personal to the wearer while staying true to Vashi’s design signatures.
Making Jewelry in a Better Way
Being an exceptional fine jewelry brand, Vashi is making better jewelry in a better way. “We know that our customers are increasingly looking for transparency and sustainability in their purchases; that’s why sustainable sourcing and ethical production are at the center of everything we do,” explains Dominguez. “At Vashi, we are committed to upholding our sustainability practices – it has been integral to the brand since day one.”
Recently the fine jewelry brand has also opened the Vashi Innovation Center in London, bringing the Head Office, Manufacturing, and Production teams under one roof, in a vibrant workspace that celebrates craftsmanship. This innovation center enables Vashi to scale up without compromising on its local production pledge and support British craftsmanship by giving artisans the space and resources they need to develop their skills and bring their ideas to life.
Award and Accolades
Vashi’s business relies heavily on strategic and intentional leadership, which has resulted in several noteworthy accomplishments. Such as ranking 26th in the 2019 Sunday Times Fast Track, which ranks Britain’s private companies with the fastest-growing sales, and 5th in the 2020 Sunday Times Profit Track 100, which ranks Britain’s private companies with the fastest-growing profits. In 2021, the business was named a Digital Economy Council Futurecorn, which recognizes businesses with a value of $250 million to $1 billion that are on the verge of becoming unicorns. In September 2021, Dominguez was announced as one of the EY Entrepreneur of the Year™ UK regional winners for London and South East and a UK finalist.
Ensuring Customer Satisfaction
Since its inception in 2013, Vashi has distinguished itself from traditional fine jewelry brands by putting its clients at the heart of the experience. Under Dominguez’s leadership, the jewelry brand is pioneering a new way to make personal fine jewelry that is unique to the customer. Vashi customers don’t simply select a piece off the shelf and take it home. Instead, they can sit down with the design team, be a part of the creation process and make it their own – whether that’s by making a small design tweak or creating something completely bespoke.
“We give our customers the opportunity to be as involved as they wish, inviting them to create alongside our designers and play a part in making their pieces. They can even pull up a seat at the bench themselves. Any customer can walk away from our stores saying, “I designed this” or “I made this,” which is such a unique and exciting experience,” says Dominguez.
Looking at the Future
Vashi’s unique, personalized offering redefines what it means to purchase fine jewelry. Rather than having a conventional retail setting, Vashi’s stores are designed around a dynamic workshop that combines education and innovation into a compelling and almost theater-like experience.
The fine jewelry brand currently has four stores in the UK, along with its eCommerce website vashi.com. 2021-22 saw the brand secure new flagship stores – its innovative space in Covent Garden opened in May 2021, and a new location in the home of luxury, on Old Bond Street, is due to open in spring/summer 2023.
Additionally, Vashi has several stores in the pipeline, both in the UK and further afield. It is also working on some very exciting developments to transform the digital experience and make further strides in sustainability. According to Dominguez, “there is much more to come from Vashi; I often say we have only achieved one percent of what we want to accomplish.”
