Canadian diamond miner Lucara Diamonds, luxury goods house Louis Vuitton and European diamond manufacturing and technology company HB Antwerp, have entered into an agreement to collaborate on the planning, cutting and polishing of a 549 ct white gem diamond.
The white gem diamond, referred to as “Sethunya”, which means flower in Setswana, was recovered unbroken from direct milling of ore sourced from the EM/PK(S) unit of the South Lobe of Lucara’s wholly-owned Botswana-based Karowe mine, in February.
Under the arrangement, the parties will collaborate and plan the creation of the highest-value polished diamonds from the 549 ct rough diamond. The polished diamonds will be made available to Louis Vuitton exclusively.
Lucara will be paid a purchase price based on the estimated polished outcome, determined by HB's state-of-the-art scanning and planning technologies, with a true up paid on the actual achieved polished sales thereafter, less a fee and the cost of manufacturing.
Lucara will receive the purchase price based on the polished outcome no later than the fourth quarter of 2021.
In line with its long tradition of personalisation, Louis Vuitton says it envisages crafting beautiful, bespoke high-value polished diamonds of variable size and shape fashioned from this rare specimen to the client's wishes: the ultimate personalised high jewellery experience and the opportunity to create a truly unique gem, a storied family heirloom.
“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,” it notes.