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Louis Vuitton Purchased World's Second Largest Diamond

Credit: Wochit
Published on January 17, 2020 - Duration: 00:34s

Louis Vuitton Purchased World's Second Largest Diamond

Louis Vuitton has just bought the world's second-largest diamond.

The purchase signals yet another clue to the French brand's ambitions in the luxury jewelry market.

According to CNN, the 1,758-carat rough diamond is dark in color and about the size of an adult's palm.

Louis Vuitton's purchase is just the latest move by parent company, LVMH, in the luxury jewelry market.

The conglomerate also owns Italian jewelry brand Bulgari and watchmakers TAG Heuer and Hublot.

In November, LVMH acquired the iconic New York jeweler Tiffany & Co.

For more than $16 billion.

The diamond took the title of second-largest in history, ousting the previous holder of the title, a 1,111-carat diamond.

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