Technological Investor Acquires Fabergé Jewelry Brand for 50 Million Dollars

• Fabergé was sold to SMG Capital for 50 million dollars.
• Gemfields announced the sale amid financial difficulties.
• Mosun plans to expand the brand's international presence.

The jewelry brand Fabergé, known for its imperial Russian eggs, has been sold to American technological investor SMG Capital for 50 million dollars (37 million pounds sterling). This came after Gemfields, a company specializing in the production of colored gemstones, announced the sale of Fabergé in the last quarter of last year.

SMG Capital, led by investor Sergey Mosunov, will pay an initial 45 million dollars upon completion of the deal, with an additional 5 million dollars to be paid through royalties. Mosunov noted that it is a great opportunity for him to become the curator of such a prestigious and recognized brand on the global arena.

Fabergé, founded in 1882 by Peter Carl Fabergé, is famous for its luxurious eggs, which were crafted for Russian emperors. During 2024, the brand generated revenues of approximately 13.4 million dollars, which is a decrease compared to 15.7 million dollars in 2023. This sale is a result of the financial difficulties faced by Gemfields, which arose due to political instability in Mozambique.

Gemfields' General Director, Sean Gilbertson, described the deal as a key area for the company, stating that Fabergé played an important role in enhancing the profile of colored gemstones produced by Gemfields. The deal allows the company to focus on its mining operations in Mozambique and Zambia.

Tags: Economy