French luxury fashion house Louis Vuitton has snapped up the world’s second-largest diamond.&nbsp;

The diamond, a 1,758-carat gem known as the Sewelo diamond, was purchased by the luxury fashion brand for “millions” as the brand turns its attention from leather handbags to high jewellery.&nbsp;

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, according to Independent.&nbsp;

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".

French luxury fashion house Louis Vuitton has snapped up the world’s second-largest diamond. The diamond, a 1,758-carat gem known as the Sewelo diamond, was purchased by the luxury fashion brand for “millions” as the brand turns its attention from leather handbags to high jewellery.

French luxury fashion house Louis Vuitton has snapped up the world’s second-largest diamond. The diamond, a 1,758-carat gem known as the Sewelo diamond, was purchased by the luxury fashion brand 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, according to Independent. 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".

Louis Vuitton snaps up world's second-biggest diamond

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Louis Vuitton snaps up world's second-biggest diamond