LVMH unit shows off diamond in the rough
Print Edition
Louis Vuitton made a splash as it showcased its latest purchase yesterday: the world鈥檚 second-biggest rough diamond.
The LVMH brand, which said last week it was the new owner of the 1,758-carat Sewelo, showed the glinting, blackened stone at its Place Vendome store in Paris.
The company has not said how much it paid for the diamond. It, as big as a tennis ball and covered in carbon, was found in Botswana last year and will be cut into gems.
Its name, Sewelo, means 鈥渞are find鈥 in Setswana and the stone will be turned into a collection of fine jewellery, according to Lucara, a Canada-based diamond mining company which is partnering with Vuitton and an Belgium-based manufacturer to produce the gems, and which owns the mine where it was found.
Vuitton, better known for making pricey handbags, only entered fine jewellery in 2012 鈥 where it competes with Bulgari, also owned by LVMH, and Richemont鈥檚 Cartier.
High-end jewelers are displaying their wares in Paris alongside Haute Couture Week, a showcase of one-of-a-kind outfits by top designers.
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