Jewellery brand Fabergé sold for 50 million dollars to US investor

The parent company of Fabergé Limited, best known for its luxury egg designs, has sold the brand to SMG Capital for a sum of 50 million dollars. With this, Gemfields, now the former owner of the jewellery label, brings to an end its strategic review, which has been ongoing since December 2024.

Of the total sale price, 45 million dollars will be payable to Gemfields by the US investment firm when the sale finalises, expected on August 28. The remaining sum will be issued via quarterly royalty payments at a rate of 8 percent of Fabergé’s revenue.

According to Gemfields’ press release, the sale is not expected to be subject to regulatory or any other approval processes. Proceeds will be used by the group to provide additional working capital.

By offloading the brand, alongside discontinuing other projects, Gemfields, which owns and operates gemstone mines in Africa, said it was now “a more streamlined and focused investment proposition with a strengthened balance sheet”.

In the company’s financial statements issued April 11, it was reported that Fabergé’s net assets were valued at 50.3 million dollars, yet next to this losses continued to mount, despite global growth potential being identified. Gemfields thus initiated a strategic review after facing "considerable challenges" in the final quarter of FY24, culminating in the eventual sale of the famed jewellery brand.

Under SMG, a firm dedicated to investing in premium and luxury brands, it is anticipated that Fabergé will continue to double down on its positioning within the global luxury market, according to the firm’s CEO and owner, Sergei Mosunov. In a statement, he said: “Fabergé will continue to focus on jewellery, accessories and timepieces and we look forward immensely to providing exceptional service to Fabergé’s existing retail and wholesale customers, and to warmly welcoming new brand aficionados.”