SEWELO – The second largest diamond ever found was bought by the Louis Vuitton fashion house. The exact amount of the transaction remains a secret, but it is surely counted in millions of dollars.
As Michael Burke, CEO of Louis Vuitton pointed out, “Nobody expected us to be interested in luxury jewelry. It’s an alarm signal for the entire market.”
What do we know about Sewelo?
It is the largest diamond found in Botswana (1758 carats) and the second largest found in the world (Cullinan is the largest). Sevelo was discovered in April 2019 at the Karowe Mine – owned by the Canadian Lucara company. In the Tswana language it means a “rare find”. More than 20 thousand Botswana citizens took part in the competition for the name of the diamond. Earlier, two other diamonds that delighted the world were mined in the same place: Constellation – weighing 813 carats – sold for USD 63 million (acquired by NEMESIS INTERNATIONAL from Dubai and Swiss jewellery company DE GRISOGNO) and Lesedi La Rona – weighing 1111 carats – sold for USD 53 million (acquired by GRAFF company that sells diamonds). Based on preliminary visual inspection and laser testing, it was found that the stone contains a high quality diamond, but the final evaluation must wait until the stone is thoroughly scanned.
Luis Vuitton invests in the future
“It’s a well-thought-out and meticulously planned marketing move to elevate Louis Vuitton to the top of the world’s best luxury brands.” – says Marcin Marcok, expert in precious stones. Over the past three months, the French tycoon LVMH, to which Louis Vuitton belongs, has carried out two spectacular transactions – the purchase of Tiffany, for USD 16.2 billion, and the purchase of the world’s second-largest raw diamond (Sewelo); it is a clear sign that the luxury goods market is about to be given a new hand. “The acquisition of Sewelo is a great tool for capturing the emotions of customers and producing multi-threaded stories that allow it to absolutely stand out from other luxury brands, which are becoming increasingly more accessible” – adds Marcin Marcok.
The jewel will be tested
“Louis Vuitton’s new acquisition is covered with a thick layer of coal. The structure and color can be assessed only through a tiny hole in the crust. It will undergo a detailed analysis in the near future. This major technological challenge involves preparing a special scanner to assess the structure and ultimate potential of the diamond” – points out Marcin Marcok owner of MART DIAMONDS. The second largest diamond in history will most probably be cut, polished and become part of an exclusive jewellery collection. But before this happens, Louis Vuitton’s new acquisition will be presented to the best customers of the brand around the world. All this to emphasize Louis Vuitton’s aspirations and steadily build the brand’s credibility in the eyes of the most demanding consumers.