Louis Vuitton Purchases The Second-Largest Rough Diamond Ever

Found inside a mine in Botswana last April, the second-largest rough diamond ever documented—at a whopping 1,758 carats—recently sold to Louis Vuitton. While the brand is best known for their leather goods and apparel, the purchase of the Sewelô (as the stone is called) is evidence of their commitment to the high-end jewelry market. This comes shortly after parent company LVMH’s acquisition of Tiffany & Co—for $16.2 billion dollars in cash. In the $270-billion global jewelry market, Vuitton aims to stand out for unique stones and designs, rather than emulating classic styles from other brands. While the official number has not been announced, Vuitton likely spent somewhere between $50 and $60 million on the stone, and executives plan to send it on its own grand tour before returning it to the workshop, where gemologists will asses its interior, as the exterior is “still slicked with carbon.” Read more at the Financial Times.