Gemfields announces that it has signed an agreement to sell its entire interest in wholly owned Fabergé Limited, the iconic luxury brand, to SMG Capital LLC, for USD 50 million.
Fabergé is one of the world’s most renowned luxury brands with a celebrated history in artistry and craftsmanship. It was founded in 1842 in Saint Petersburg, Russia, by Gustav Fabergé, and transformed by Peter Carl Fabergé in 1882. The firm was renowned for designing elaborate, jewel-encrusted Fabergé eggs for Russian emperors, as well as a range of other high-quality, intricate objets d’art.
The House of Fabergé was nationalized in 1918 following the Bolsheviks revolution. The family left Russia and settled in different European countries. The Fabergé brand name was considered valuable by family members several companies and was highly contested for many years.
Sergei Mosunov, CEO and owner of SMG Capital LLC, commented: “It is a great honour for me to become the custodian of such an outstanding and globally recognised brand. Fabergé’s unique heritage, with ties to Russia, England, France and the USA, opens significant opportunities for further strengthening its position in the global luxury market
and expanding its international presence. 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 afficionados.
We thank the Gemfields team for their contribution to the development of Fabergé and look forward to working closely with the brand’s talented team. As Carl Fabergé said: “There is no point in gems if you cannot turn them into a story.” We feel a deep sense of responsibility and incredible inspiration for the work ahead.
Main Image: The Rothschild Fabergé Egg. Image from Christie’s