Overview

• The $50 million sale to SMG Capital includes $45 million on completion by end-August and $5 million in quarterly royalty payments equal to 8 percent of Fabergé’s revenue.
• Sergei Mosunov, owner of SMG Capital, will maintain Fabergé’s jewellery, accessories and timepiece offerings and seek to expand the brand’s international presence.
• Gemfields, which paid about $142 million for Fabergé in 2013, reported the jeweller’s revenues fell to $13.4 million in 2024 as luxury sales softened.
• Proceeds from the sale will boost Gemfields’ balance sheet and fund mining expansion projects at Montepuez in Mozambique and Kagem in Zambia.
• Gemfields’ shares jumped roughly 3 percent on the news as investors welcomed the strategic divestment to concentrate on core coloured-gemstone operations.