Baugur jewellery group Aurum Holdings has launched a jewellery e-tail venture as it reported stellar first-quarter sales.

The group – parent of Mappin & Webb, Goldsmiths and Watches of Switzerland – has launched a design-your-own jewellery web site called Mydiamonds.com.

The move reflects owner Baugur’s decision to focus on e-commerce and international expansion to drive growth at the Icelandic retail investor’s portfolio of brands.

First-quarter like-for-likes at Aurum rose 10.7 per cent in conjunction with a “significant improvement” in profits.

Customers of Mydiamonds.com, which dubs itself as “the online specialist for loose diamonds and bespoke diamond products”, can select the design of their jewellery, including shape, weight, cut and colour.

The site offers delivery to the UK, Belgium, Canada, Denmark, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Spain, Sweden and the US.

Google UK industry retail head Paul Frantz said the site is a great concept not seen before in the UK. “Tiffany’s and De Beers do a similar thing in the US and we’ve seen that quality and guarantees are very important,” he said.

  • Baugur is still understood to be completing due diligence on Moss Bros and still hopes expected to launch a formal bid for the menswear retailer.

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