On Monday, Gemfields Plc — the owner of the Fabergé brand — announced the sale of Fabergé Limited to investment firm SMG Capital LLC for $ 50 million. SMG Capital is owned by Sergey Mosunov, a Nizhny Novgorod native and well-known IT entrepreneur. The transaction is expected to close by August 28, 2025.
Deal Terms
Under the agreement, SMG Capital will pay Gemfields $ 45 million upon closing, plus an additional $ 5 million in quarterly royalties (8% of Fabergé's revenue). Gemfields clarified that the transaction does not require regulatory or third-party approvals. The company stated that the proceeds will strengthen its balance sheet and support its core projects, including the launch of a new processing plant at the Montepuez mine in Mozambique and the resumption of operations at the Kagem mine in Zambia.
Statements from Both Sides
Gemfields CEO Sean Gilbertson said Fabergé had played an important role in promoting Gemfields' colored gemstones, and that the brand’s sale "marks the end of an era" for the company. He noted that Fabergé helped raise awareness of Gemfields' products and thanked the Fabergé team for their achievements.
For his part, Mosunov called the acquisition "a great honor." According to him, "Fabergé's unique heritage, tied to Russia, England, France, and the US, opens significant opportunities to strengthen its position in the global luxury market and expand its international presence." He emphasized that Fabergé will continue to focus on jewelry, accessories, and watches, while SMG will ensure "exceptional service" for existing clients and attract new admirers to the brand.
The History of Fabergé
The House of Fabergé was founded in 1842 by Russian jeweler Gustav Fabergé. It became world-renowned for its intricate Imperial Easter eggs created for the Romanov family between 1885 and 1916. After the 1917 Revolution, Fabergé's workshops were nationalized, production ceased, and the family emigrated abroad. Throughout the 20th century, the brand changed hands several times before being revived. Today, Fabergé produces high-end jewelry, watches, and accessories, drawing heavily on its historical legacy.
Source: Gemfields Plc press release