Louis Vuitton Just Snapped Up the Second-Biggest Diamond on the Planet

Marco Green
January 19, 2020

Roughly the size of a tennis ball, the stone has been described as a "near gem of variable quality", meaning it is an industrial diamond with sections that could produce gem-quality stones.

Sewellô, which means "rare find" in Setswana, is the second diamond larger than 1,000 carats to be recovered from the Karowe Diamond Mine over the past four years and the biggest ever found in Botswana, Lucara announced Thursday. It's unclear how valuable the polished diamonds will be though, as Lucara previously said the Sewelo wasn't a type of diamond that yields top jewelry standard gems.

The only larger diamond ever found was the 3,106-carat Cullinan Diamond, unearthed in 1905 in South Africa.

In 2017, Lucara sold the Lesedi La Rona diamond to Graff Diamonds for US$53 million. It was eventually cut into smaller stones with two of the high-quality diamonds - one of 530.4 carats and one 317.4 - both now part of the British crown jewels.

LVMH, the parent company of Louis Vuitton, recently acquired Tiffany for $16.2 billion.

Bernard Arnault, chairman and chief executive of Louis Vuitton's owner LVMH, bagged iconic USA jeweller Tiffany in a £12billion deal previous year.

Louis Vuitton has been pushing into fine jewelry since opening a flagship store on Paris's Place Vendome - the famed district home to Cartier and Boucheron - and since tapping a new head jewelry designer, Francesca Amfitheatrof.

But this isn't the first time Lucara has scored big in the diamond mine.

Lucara Diamond Corp.is collaborating with Louis Vuitton and the Antwerp manufacturing HB Company to transform the 1,758-carat Sewelô diamond into a fine jewelry collection.

It also owns Bulgari, historic French jeweller Chaumet and more modern brand Fred.

Other reports by Click Lancashire

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