SourcingAug 01, 2025
Gemfields’ Auction Revenue Drops 50% in H1SourcingAug 12, 2025
Gemfields Sells Fabergé for $50M
Acquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Gemfields has sold Fabergé to SMG Capital LLC for $50 million. Pictured are pieces from the debut of the “Fabergé x 007” capsule collection inspired by the James Bond film “Octopussy” (1983), released in March 2024.
London—Gemfields announced that it has sold Fabergé, the Russian luxury fine jewelry brand known for its Imperial Easter Eggs, for $50 million.
According to the agreement, U.S.-based investment company SMG Capital LLC will receive full ownership, the mining company said on Monday.
Owned by tech entrepreneur Sergei Mosunov, the company specializes in “luxury brands and innovative businesses with strong heritage.”
The sale is expected to be completed by Aug. 28, and $45 million will then be paid to Gemfields.
The remaining $5 million will be paid by way of quarterly royalty payments at a rate of 8 percent of Fabergé’s revenue.
“It is a great honor for me to become the custodian of such an outstanding and globally recognized 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,” said Mosunov, CEO of SMG.
He said that Fabergé will continue to focus on jewelry, accessories, and timepieces.
Mosunov added, “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.”
The sale is not expected to be subject to regulatory or shareholder approval processes, Gemfields said.
Related stories will be right here …
According to the agreement, U.S.-based investment company SMG Capital LLC will receive full ownership, the mining company said on Monday.
Owned by tech entrepreneur Sergei Mosunov, the company specializes in “luxury brands and innovative businesses with strong heritage.”
The sale is expected to be completed by Aug. 28, and $45 million will then be paid to Gemfields.
The remaining $5 million will be paid by way of quarterly royalty payments at a rate of 8 percent of Fabergé’s revenue.
“It is a great honor for me to become the custodian of such an outstanding and globally recognized 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,” said Mosunov, CEO of SMG.
He said that Fabergé will continue to focus on jewelry, accessories, and timepieces.
Mosunov added, “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.”
The sale is not expected to be subject to regulatory or shareholder approval processes, Gemfields said.
The sale marks the end of an era, said Gemfields, which has owned Fabergé since 2013.
It concludes its strategic review in respect of Fabergé, which was initiated in late 2024 (and paused to facilitate Gemfields’ Rights Issue, which completed on June 13).
“Fabergé has played a key role in raising the profile of the colored gemstones mined by Gemfields and we will certainly miss its marketing leverage and star power,” said Sean Gilbertson, group CEO of Gemfields.
He also thanked the Fabergé team for their fortitude and the progress they have delivered over the years.
Gilbertson continued, “Brands as iconic and beautiful as Fabergé do not change hands very often, and we wish the team and Mr. Mosunov every success as they perpetuate the unrivalled legacy of Fabergé.”
In December 2024, the company released a strategic update outlining its plans to cut costs and streamline its business as a response to challenges it was facing at the time.
With the sale of Fabergé and the discontinuance of other non-core projects, Gemfields said it is now a more streamlined and focused investment proposition with a strengthened balance sheet.
The sale proceeds will provide additional working capital while the new processing plant at Montepuez Ruby Mining in Mozambique is operationalized, and mining at the Kagem emerald mine in Zambia is progressively expanded.
After suspending operations at Kagem in the first half of the year, Gemfields reopened two production points at the deposit’s Chama pit in May, with a further moderated expansion from July.
As of December 2024, Fabergé’s net assets are valued at $50.3 million, with a $11.3 million loss after tax in 2024.
The Latest
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
CrimeAug 27, 2026
Customs Seizes Nearly 900 Pieces of Counterfeit JewelryThe package, intercepted in Indianapolis, contained fake Cartier, Tiffany & Co., and Van Cleef and Arpels jewelry.
IndependentsAug 27, 2026
Jessica McCormack to Open First West Coast StoreThe new location in Costa Mesa, California, marks the brand’s second store in the United States and fourth standalone location worldwide.
