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The LVMH-owned brand, which said last week that
it was the new owner of the 1,758-carat Sewelo, displayed the
glinting, blackened stone at its Place Vendome store in Paris.
The company has not said how much it paid for the diamond. The
size of a tennis ball and covered in carbon, it was discovered
in Botswana last year and will be cut into gems.
Its name, Sewelo, means "rare find" in Setswana, and the stone
will be turned into a collection of fine jewelry, according to
Lucara, a Canada-based diamond mining company which is
partnering with Vuitton and an Antwerp-based manufacturer to
produce the gems, and which owns the mine where it was found.
Vuitton, better known for making pricey handbags, only entered
fine jewelry in 2012 - where it competes with Bulgari, also
owned by LVMH, and Richemont's Cartier.
High-end jewelers are displaying their wares in Paris alongside
Haute Couture Week, a showcase of one-of-a-kind outfits by top
designers. Pieces in these jewelry collections often cost tens
of thousands of dollars.
Jewellery has emerged as one of the fastest-growing segments of
the luxury goods market in recent years, spurring LVMH's $16.2
billion purchase of U.S. label Tiffany last year.
Kering's Gucci label also said last year it would branch into
high-end jewelry.
(Reporting by Sarah White; Editing by Giles Elgood)
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