Diamond’s name ‘Sewelo’ translates to ‘rare find’
Louis Vuitton has purchased the world’s second-largest diamond, a 1,758-carat gem known as the Sewelo diamond.
On Wednesday, it was reported that the luxury French fashion house purchased the diamond for “millions” as the brand turns its attention from leather handbags to high jewellery.
The Sewelo diamond was found in Botswana in April 2019 at the Karowe mine by Lucara Diamond Corp. The name of the gem means “rare find” in Tswana – one of the languages spoken in Botswana.
Following the acquisition, the brand will work with the HB Company, a diamond manufacturer from Antwerp, to cut and polish the diamond into smaller stones that will be featured in a collection of jewellery, with Lucara getting a “non material upfront fee” and retaining a 50 per cent interest in the polished diamonds from the Sewelo.
The diamond mining company also said that five per cent of all the retail sales generated from the collection will be “invested directly back into Botswana on community-based initiatives”.