It is not a royal family, searching for a centerpiece for a new tiara. Discovered in April 2019 at the Karowe mine in Botswana (owned by Lucara Diamond Corp, a Canadian miner), the baseball-size Sewelo is the second largest rough diamond ever mined. He has also been much more vocal about sustainability. In 2014 he built the Fondation Louis Vuitton in the Bois de Boulogne, an extraordinary Frank Gehry-designed museum for contemporary art (and his own corporate contemporary art collection) that will ultimately become a gift to the city of Paris. I don’t know,” Mr. Burke said, acknowledging that the purchase “took a little bit of guts and trust in our expertise.” (To be fair, LVMH can afford it; its revenues in 2018 were 46.8 billion euros, or $52 billion. Rarely (when he plays tennis with Roger Federer, perhaps) — and when he does he usually still makes money out of the deal. The New York Times brings stories to more than 228,000 people living across the Atlantic Ocean and to more than 194,000 people living in Asia. The Second-Biggest Diamond in History Has a New Owner. If you don’t know who he is, you should. They can reveal when the diamond was created and at what depth in the earth. In addition to the many links between the family that owns The New York Times and the Civil War Confederacy, evidence shows that members of the extended family were slaveholders. The paper's motto, "All the News That's Fit to Print", appears in the upper left-hand corner of the front page. It is owned by The New York Times Company. He also suffered a quasi-black eye when the French media discovered in 2012 that he had applied for a Belgian passport during the socialist administration of President François Hollande, though he said it was only for estate planning purposes. He fought a handbags-at-dawn battle with Kering (then PPR) for Gucci in 1999, which he eventually lost, and in 2010 began buying Hermès stock, much to the Dumas family’s dismay. Mr. Burke said that when his team suggested that Vuitton consider buying the Sewelo, his initial reaction was: “What took you so long?”, “It’s a big, unusual stone, which makes it right up our alley,” he said. The profitability of any large stone depends on its yield: how many gem-quality carats can be gotten out of it once cut to maximize the price, which is in turn a function of the impurities in the stone — though, as Ms. D’Haenens-Johansson points out, even the impurities have value in a stone this size. Wake up the industry.”. On Monday morning LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury company, announced it had proposed to — and been accepted by — Tiffany & Company, the American jeweler made famous by its blue boxes, Truman Capote and Audrey Hepburn. The man behind the largest-ever deal in luxury: Bernard Arnault, founder, chairman and largest shareholder of LVMH. Mr. Arnault, 70, is one of the richest men in the world — worth $106.9 billion as of Monday morning, according to Forbes. Those people who watch news programs, such as Fox News or CNN, have a lower rate of college degrees: 24 percent and 29 percent, respectively. Who Is He? Vuitton’s partners in Antwerp are building a scanner able to see through the stone’s coating, though with the imaging already in place, including a CT scan, they have estimated it may yield a 904-carat cushion-cut diamond, an 891-carat Oval or several stones of between 100 and 300 carats. Louis Vuitton has bought the Sewelo, the biggest diamond discovered since 1905.Credit...Grégoire Vieille/Louis Vuitton. Now it has resurfaced with a new owner — and it’s not a name you might expect. “Nobody expects us to put such an emphasis on high jewelry,” Mr. Burke said. LVMH is three times larger in market capitalization than its closest rival, Kering (owner of Gucci, YSL and Alexander McQueen), and five times larger than Richemont (owner of Cartier, Chloé and Net-a-Porter). She said she realized he was serious about her when she could see how nervous he was. The largest was the 3,106-carat Cullinan diamond, which was discovered in South Africa in 1905 and eventually yielded two enormous high-quality stones — one of 530.4 carats and one 317.4, both now part of the British crown jewels, as well as many smaller stones. ), Still, Mr. Post said, “You don’t buy a stone like that unless you have some plan for what you are going to do with it and some belief that there is enough clear material that you can cut it and make a profit.”. Louis Vuitton has bought the Sewelo, the biggest diamond discovered since 1905. Last month, Mr. Trump cut the ribbon on a new Louis Vuitton factory in Texas. Only close friends know for sure! Taken together, the double punch of purchasing (brand and stone) in less than two months is the luxury equivalent of shock and awe. When the stone was unearthed, there was a fair amount of speculation that it may be worth significantly less than its not-quite-as-giant siblings. акрыто правами приватности, Соединенные Штаты Америки. Once upon a time he considered buying Armani, and rumor has long had it that he would dearly love to add Chanel to the group. And if the Sewelo doesn’t prove to be quite as lucrative as LVMH is betting? It is not even the diamond specialist Graff, the owner of the Graff Lesedi La Rona, a 302.37-carat diamond that is the world’s largest emerald-cut sparkler. In the company, he is mostly referred to as “B.A.” When his colleagues are asked to describe him, they generally give a Gallic shrug and say, “He’s from the North,” as though that explains everything. Nicknamed for years as "The Gray Lady", The New York Times has long been regarded within the industry as a national "newspaper of record". As for the fact that the acquisition happened around the same time as the Tiffany acquisition, Mr. Burke said it was a coincidence. You know: It’s colder and grayer up there in Normandy. He is French, and the godfather of the modern luxury industry. “Sewelo” means “rare find” in Setswana. Nicknamed "the Gray Lady", the Times has long been regarded within the industry as a national "newspaper of record". By comparison, 64 percent of news magazine readers are college graduates. He also knew President Trump during their time in New York in the 1980s, and was among the first international business leaders to visit the new president at Trump Tower in early 2017. The following year the Hermès chief executive, Patrick Thomas, effectively compared the unwelcome approach to a “rape” (they eventually made peace and Mr. Arnault backed off, after reaping a tidy profit from his investment). In addition, he has pledged €200 million to the restoration of Notre-Dame after the fire earlier this year, and LVMH has donated $11 million to fight the wildfires in the Amazon rainforest. The New York Times (NYT or NY Times) is an American newspaper based in New York City with worldwide influence and readership. The mine also produced the 813-carat Constellation, uncovered in 2015 and sold for $63 million to Nemesis International in Dubai, a diamond trading company (in partnership with the Swiss jeweler de Grisogono) and the Lesedi La Rona, discovered in 2016 and sold to Graff for $53 million. “I think it will spice things up a bit. He sold everything else off, but kept Dior and built from there. Arthur Ochs Sulzberger, Jr. – whose family (Ochs-Sulzberger) has controlled the paper for five generations, since 1896 – is both the paper's publisher and the company's chairman. It is not the De Beers Group, who could be seen as the creator of the diamond market and owner of the Millennium Star diamond, which, uncut, was a 770-carat stone. This year he also signed a joint venture with Stella McCartney, so she’s part of the fold, too, and has become a special adviser to the chairman for sustainability. “There are less than 10 people in the world who would know what to do with a stone like that or how to cut it and be able to put the money on the table to buy it,” said Marcel Pruwer, the former president of the Antwerp Diamond Exchange and the managing director of the International Economic Strategy advisory firm. He says he figured it out when he came to New York in the 1980s, got into a cab and discovered that his driver had never heard of de Gaulle, but he knew Dior. Mr. Arnault also was close to Karl Lagerfeld, the Chanel and Fendi designer who died in February. He is also very competitive. Though his father made his money in the construction business, Mr. Arnault saw very early on the opportunities in taking a group of family-run artisanal companies, professionalizing them and leveraging their strength to the group benefit. But he has always placed the brand above the individual, a decision that makes him, depending on who is watching, either a genius or a bloodsucker on the body of creativity. There’s no way to list them all, but they include: Dior, Vuitton, Fendi, Celine, Pucci, Marc Jacobs, Hennessy, Dom Pérignon, Bulgari, Tag Heuer, the Paris department store Le Bon Marché, Sephora, the hotel group Cheval Blanc, Moët & Chandon, Fenty, DFS Group, Make Up For Ever and Krug (to name a mere few). “I’ll go jump in a river,” Mr. Burke said. It is not, for example, Jeff Bezos, the richest man in the world, on the hunt for a trophy asset. The Lesedi La Rona diamond at Sotheby’s in 2016. It is Louis Vuitton — the luxury brand better known for its logo-bedecked handbags than its mega-gems, which has been present on Place Vendôme, the heart of the high jewelry market, for less than a decade.