Louis Vuitton Moet Hennessy
Who and what exactly is LVHM? Everyone knows it’s a good thing but should I buy the stock?
LVHM stands for Louis Vuitton Moet Hennessy. It’s a huge luxury goods conglomerate headquartered in Paris.
It all started in 1987 when Louis Vuitton merged with Moet Hennessy, (previously champagne company Moet & Chandon and Hennessy, the cognac manufacturer). LVHM now includes about 60 luxury brands including Tiffany & Co., Christian Dior, Celine, Pucci, Fendi, Givenchy, Marc Jacobs, Bvlgari, Fred, Tag Heuer, Zenith, Sephora, and a partnership with Stella McCartney although these details are not fully known.
So what has the firm been up to lately? Well, today it was announced that they have purchased the second largest rough diamond in history, the Sewelô diamond. It weighs in at a whopping 1758 carats although the price has not been disclosed (yet).
LVHM indicates that with this purchase it establishes itself as serious competitor in the high-end jewelry market.
Plans for the rock include a collection of fine jewelry that will memorialize the exceptional discovery.
The rock will be cut and polished through a partnership with the HB Company, a diamond manufacturer.
The stone in weight is second to the historic 3,106-carat Cullinan diamond, from South Africa although it has since been cut into 9 diamonds, two of which are now part of the British Crown Jewels.