Louis Vuitton to Turn Second-Biggest Diamond Ever Into Jewelry

Andrew Cummings
January 19, 2020

Luxury French fashion house Louis Vuitton is setting its sights on the fine jewelry market. The company will retain 50 per cent of the diamonds that are cut from the massive Sewelo. The diamond company struck a deal with Louis Vuitton, though it is not known how much the brand paid for the rock, which is roughly the size of a tennis ball.

Diamond miner Lucara Diamond has entered into a collaboration with famous luxury house Louis Vuitton and diamond manufacturer HB Company to manufacture its historic 1 758 ct Sewelô diamond that was recovered from Lucara's Karowe diamond mine, in Botswana, in April a year ago.

The purchase follows the 16 billion United States dollars acquisition of Tiffany by LVMH, the French parent company of Louis Vuitton-hinting at plans to lead the jewelry industry.

"It's the biggest potential we have right now", he told the outlet, adding that the industry is "one of the highest-growth categories we have, if not the highest".

The diamond, discovered in 2019 by Lucara Diamond Corp was purchased for an undisclosed sum as the luxury brand turns its attention from leather handbags to high-end jewellery.

Louis Vuitton Moët Hennessy has taken a gamble with the 1758 carat stone that is covered with carbon and looks like a lump of coal.

In 2015, Lucara found the 1,109 carat Lesedi La Rona, which was the second largest of all time at the time and eventually sold for $ 53 million. An 813-carat stone that sold for a record $63 million was also found in the same mine.

The Sewelo is the world's largest uncut diamond.

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