Tiffany & Co has acquired an 80ct diamond in order to reimagine its historic 1939 World’s Fair necklace.

The stone will be the largest ever sold by the company, and will be launched to mark the reopening of the Tiffany Fifth Avenue flagship store next year.

It is eclipsed in size only by the Tiffany Diamond, which famously is not for sale.

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The stone – an over 80-carat, D colour, internally flawless oval diamond – was responsibly sourced in Botswana, Tiffany revealed.

Victoria Reynolds, Tiffany & Co chief gemologist, commented: “What better way to mark the opening of our transformed Tiffany flagship store in 2022 than to reimagine this incredible necklace from the 1939 World’s Fair, one of our most celebrated pieces when we opened our doors on 57th Street and Fifth Avenue for the first time.

“The new necklace perfectly reflects our brand heritage as a New York luxury jeweller, whose founder was known as the ‘King of Diamonds’.”