Louis Vuitton will make jewellery from the world’s second largest diamond ever mined, after signing a deal with the diamond’s owners.
In April 2019 Lucara, a Canadian diamond-mining corporation, announced the discovery of what is now known as the Sewelô diamond, mined in Botswana.
Now Lucara and Louis Vuitton have signed a deal that will see the 1,758-ct diamond used to make jewellery.
LVMH, Louis Vuitton’s parent company, stumped up the funds for the diamond in what is a significant move in the high-end luxury jewellery market.
The deal sees Lucara retain 50% interest in whatever diamond pieces Louis Vuitton chooses to produce. This is on top of the initial payment from LVMH.
Lucara will also donate 5% of all takings back into charities in Botswana.
Eira Thomas, Lucara co-founder and CEO, comments:“We are delighted to be partnering with Louis Vuitton, the famous luxury House, to transform the historic Sewelô, Botswana’s largest diamond, into a collection of fine jewellery that will commemorate this extraordinary discovery and contribute direct benefits to our local communities of interest in Botswana.”
LVMH has been on the move in the high-end jewellery market in recent months. Mostly recently the luxury giant acquired Tiffany & Co in a multi-million pound deal – which places the company in a strong position to compete in this growing sector.