Lucara strikes another deal with Louis Vuitton

Canadian diamond exploration and mining company, Lucara Diamond Corporation, known for turning up large gemstones at Karowe Diamond Mine in Botswana, has announced another partnership with the French fashion house and luxury goods company, Louis Vuitton. The partnership will see the two companies collaborating on the planning, cutting and polishing of the ‘Sethunya’ precious stone.

A statement from Vancouver-based Lucara says HB Antwerp (HB) – a European diamond manufacturing and technology company – will also be part of the partnership that will make the highest value polished diamonds from Sethunya. The 549-carat white gem diamond was recovered unbroken from the direct milling of ore sourced from the EM/PK(S) unit of the South Lobe of Lucara’s 100% owned Karowe Mine in February 2020.

The new agreement builds on the collaboration announced in January with Louis Vuitton and HB on the historic 1,758-carat Sewelô, Botswana’s largest diamond, that was recovered from Karowe last year.

“Under the new arrangement between Lucara, Louis Vuitton and HB, the parties will collaborate on and plan the creation of the highest value polished diamonds from the 549-carat rough, which will be made available to Louis Vuitton exclusively,” the mining company stated. 

“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.”

The dual-listed mining company also noted that they will receive the purchase price based on the polished outcome no later than the fourth quarter of 2021.

“In line with their long tradition of personalisation, Louis Vuitton envisages crafting beautiful, bespoke high-value polished stones of variable size and shape fashioned from this rare specimen to the client’s wishes: the ultimate personalised high jeweller experience and the opportunity to create a truly unique gem, a storied family heirloom,” the company 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.”

Source:

Largest diamonds: https://www.thegazette.news/business-2/lucara-strikes-another-deal-with-louis-vuitton/34732/#.X7I5DS0Rokg

2 weeks ago

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