21 Sep 2020
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Louis Vuitton is making a statement & it is more than just a 1,758ct diamond
Earlier in 2019, the luxury fashion house acquired Tiffany & Co. for a whopping $16 bn. Last week, the maison made history by acquiring one of the largest diamonds in the world. What's next?
By: Diamond World News Service
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Jan 23 2020 5:05PM
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Reference: 24718  

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Source: Reuters
Source: Reuters

Just a few days back Louis Vuitton created a stir in the global Gems & Jewellery market with their latest purchase. A whopping 1,758-carat Sewelô - the largest rough diamond discovered since 1905, which now belongs to none other than French fashion house Louis Vuitton and mind you, the luxury retailer sure knows how to make a splash.

While this sure created waves across the industry, seems like the fashion mogul knows how to make a statement that is here to stay in the high-jewellery segment. Soon after the announcement, the brand made its way to global influencers' social media accounts to make a statement. However, the jaw-dropping moment arrived when LV made its debut at the Paris Fashion Week this year with their latest accomplishment.

The Sewelo was seen on display at the Paris Fashion Week shining away to glory and makes the jaws on onlookers drop. The company has not revealed how much it paid for the diamond, which is as large as a tennis ball. The Sewelô, which means “rare find” in Setswana, was discovered in Botswana last year. It will be cut into gems and turned into a collection of fine jewellery, according to Lucara, a Canada-based company that owns the mine where the stone was found. Interestingly, the brand also acquired US-based jeweller Tiffany & Co for more than $16bn (£12.5bn). With so much going on, it sure seems like the brand is all set to up their game when it comes to the high-jewellery segment.

While the biggies of the industry wrap their heads around the big move by LV, Michael Burke, the chief executive of Louis Vuitton, in one of his interviews, shared how surprised his competitors are adding that it will spice things up a bit and wake up the industry. Will they make the luxury jewellers of the world make a run for their money? We have to wait and watch.

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