Louis Vuitton has another big rock for its collection.
The luxury goods giant has entered an agreement with miner Lucara Diamond Corp. to buy a 549 ct. white rough diamond (pictured) that can be cut any way its customer decides.
According to a statement, Louis Vuitton will offer its clients the chance to craft a “beautiful bespoke” polished diamond from the piece of rough, fashioning the size and shape to their wishes.
“[This will be] the ultimate personalized high jewelry experience and the opportunity to create a truly unique gem, a storied family heirloom,” the statement said. “In this way, the client will be involved in the creative process of plotting, cutting, polishing, and becoming part of the story that the stone will carry with it into history.”
The diamond will be manufactured by HB Antwerp, as per an agreement it forged with Lucara earlier this year, which called for HB to manufacture all of Lucara’s “special stones.”
Under the arrangement between Lucara, Louis Vuitton, and HB, the parties will collaborate and plan how to produce the highest-value polished diamond from the 549 ct. rough. Or they may leave the choice up to the buyer.
The diamond has been dubbed “Sethunya,” which means flower in Setswana, the national language of Botswana. The Sethunya was recovered unbroken from Lucara’s Karowe mine in Botswana in February 2020.
Lucara has been using new technology that allows it to recover a higher percentage of large unbroken stones.
Earlier this year, Louis Vuitton agreed to buy a 1,758 ct. diamond from Lucara, which was also manufactured by HB.
Lucara will be paid a purchase price based on the estimated polished outcome, determined by HB’s scanning and planning technologies, and then receive any extra the diamond nets, less a fee for manufacturing.
The agreement is part of Lucara’s plan to better “align” the polished and rough market, which CEO Eira Thomas described here.
(Photo: Philippe Lacombe/courtesy of Louis Vuitton)
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