Canadian pop singer Justin Bieber has bestowed upon his wife Hailey a new engagement ring crafted by famed jeweler Lorraine Schwartz, valued at approximately US$1.5 million.

American model Hailey Bieber. Photo from Hailey Bieber’s Instagram

Vogue reports that the pop star’s gift to his wife is a stunning four-prong, oval-cut diamond ring, which Hailey flaunted in her Instagram post dated May 25.

The reveal of this gift occurred shortly after the couple renewed their vows in a Hawaii ceremony earlier in the month.

Hailey’s initial engagement ring, a striking 18-carat creation from Solow & Co., was given to her by Justin during their 2018 engagement in the Bahamas. Yahoo notes that this ring, featuring an oval-shaped diamond, is valued at roughly half a million dollars.

Additionally, her V-shaped wedding band, a memento from their 2019 wedding, was sourced from Tiffany & Co. and includes pavé diamonds.

Hailey Bieber sports her new engagement ring, a gift from her husband Justin that reportedly costs US$1.5 million, on her left pinky finger. Photo from Hailey Bieber’s Instagram

It is commonly observed that celebrities sport an array of such lavish symbols. Hailey appears to be embracing a trend akin to that of Victoria Beckham, who, throughout her 26-year marriage to David Beckham, has amassed around 15 engagement rings.

Hailey, 28, is a daughter of American actor Stephen Baldwin and is presently engaged in modeling and social activities.