Louis Vuitton is the new owner of the second largest diamond known to man. The 1,758 carat diamond was discovered in Botswana in April last year and named 'Sewelo', which means a rare find. Vuitton entered the market in 2004, and not a decade later they are fast tracking in the High Jewelry market. Vuitton has signaled its readiness to take the leadership in the industry.
Michael Burke, chief executive of Louis Vuitton, told the media that the unusually big stone is something right up their alley.
The stone is described as a 'near gem of variable quality', with its size and its quality that can produce gem-quality stones.
A luxury label
The tennis ball-sized Sewelo is still in its rough state. Experts will cut through to reveal what it truly holds. The purchase is seen as a deep investment in the label brand. The purchase was made by the company from the Canadian mining company Lucara Diamond Corp. The purchase amount of the diamond was not revealed.
Burke told the media that such an investment took "a little bit of guts and trust in our expertise".
Lucara said they plan on making community-based initiatives in Botswana after the purchase took place. The investment by Vuitton shows their commitment in climbing the ladder in High Jewelry and rising with the ambition.
Their previous collection in High Jewelry, Riders of the Knight by Francesca Amfitheatrof, has created a wave with its elegance and concept. It was inspired by arms and armors and even Joan of Arc.
The recent acquisition of the American jeweler Tiffany & Co by the company has also led to the growth of their foothold in the market. The company is set to define the market in the coming future.
Which was the first largest diamond and where is it?
Talk about Sewelo led to recall of the first largest diamond to be discovered. The Cullinan diamond was found in South Africa and now resides in royalty. The 3,106 carat diamond resides in the Tower of London as part of the crown jewelry. It was cut into two main stones. One was kept on the head of the Sovereigns Sceptre with Cross, part of the coronation regalia, while the other Cullinan II, is on the Imperial State Crown right below the spinel known as the Black Prince's Ruby.
There were several smaller stones made out of it as well which are a part of the queen's jewelry.