The luxury brand reached a historic milestone by exceeding a €200 billion ($218 billion) market value this week, per Bloomberg, soaring past Swiss pharmaceutical giant Novartis AG. This impressive feat is attributed to the luxury brand’s strong performance, rallying approximately 30 percent so far in 2023, buoyed by investor confidence in the high-end market’s continued success.
Arnault was crowing on LVMH’s recent earnings conference call about the company’s contentious 2021 acquisition of Tiffany. He said Tiffany’s earnings had doubled since the roughly $16 billion purchase.
Although there is no official history of diamonds, experts agree that they originated between 2500 and 1700 B.C. They were first discovered in India, in the Golconde region, between the rivers Godavari and Krishna.
In some ways, jewelry is a safer investment: It doesn’t require tailored storage or upkeep like wine, art and cars; it’s easily transportable; it’s valuable currency in any country; and it can be worn and enjoyed.
The gemological characteristics of the De Beers Cullinan Blue suggest it is one of these superdeep diamonds.