CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
SourcingJun 16, 2017
Chinese Co. Makes a Play for Gemfields
Fosun Gold has put in an offer for the company that tops the one made by the miner’s biggest investor, Pallinghurst Resources.
Gemfields operates the Kagem emerald mine in Zambia, pictured here. The company, which also mines rubies in Mozambique, recently received a buy-out offer that tops the one made by its biggest investor last month.
London--Shanghai-based investment company Fosun Gold announced this week that it’s making a play for colored gemstone miner Gemfields.
In its proposal dated June 14, Fosun offered to pay 40.85 pence per share (about $286 million) for the colored gemstone mining company, a 15.1 percent premium to Gemfields’ June 13 closing price of 35.50 pence and 10 percent above Pallinghurst Resources Ltd.’s offer of 37.10 pence per share.
The offer would “provide Gemfields shareholders with a compelling cash alternative at significant premium to the Pallinghurst offer,” Fosun said.
Pallinghurst, an investment fund formed by former BHP Billiton CEO Brian Gilberston, is Gemfields’ biggest investor and is looking to buy the 53 percent of the company it doesn’t already own.
Gemfields has said that Pallinghurst’s 37.10 pence per share offer “significantly undervalues” the company and, in a statement issued this week, noted it is “actively engaged” in discussions with Fosun Gold regarding a possible competing offer, which “may lead to a cash offer at a superior value to Pallinghurst’s unsolicited offer.”
Fosun Gold Holdings Ltd. is a wholly owned subsidiary of Shanghai-based Fosun International Ltd., an investment firm focused on “health, happiness and wealth” that has sunk money into companies like Cirque du Soleil, Club Med and Greek jewelry company Folli Follie.
In explaining its rationale for attempting to buy Gemfields, Fosun Gold said that “under the right ownership, Gemfields can continue to transform the colored gemstone market,” given its mining assets and marketing expertise.
Fosun also noted the potential it sees for Gemfields in China, where fine jewelry, including the exchange of engagement rings, is growing in popularity among consumers, stating that it “believes it has the financial capability and consumer expertise to allow Gemfields to accelerate and continue that trend as well as to help it access China, a previously underexploited market.”
Gemfields operates emerald and ruby mines in Zambia and Mozambique and owns the Faberge brand.
In its statement this week, the mining company said it “continues to strongly advise” shareholders not to take any action on Pallinghurst’s offer and wait for an update on the status of the discussion with Fosun Gold, which will come on or before June 27.
The Pallinghurst offer remains open for acceptance until July 4. Fosun, meanwhile, has until end of business on Aug. 5 to make a formal offer for Gemfields.
A Gemfields spokesperson said the company cannot comment on either
offer beyond its published statements.
More on Sourcing
The Latest
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
FinancialsJul 16, 2025
Richemont’s Jewelry Sales Up 7% in Q1It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With ExhibitionThe auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth GenerationJake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s ImpermanenceThe “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.
MajorsJul 15, 2025
James Avery Expands to 2 More StatesThe Texas-based jewelry retailer has set up shop in Tennessee and Arizona.
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director Eric Ford will step into the role, bringing with him decades of experience.
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic ManufacturingIn addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone JewelryThe “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
Events & AwardsJul 11, 2025
The Edge’s Annual Conference Returns in SeptemberIts sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.
CollectionsJul 11, 2025
Piece of the Week: Miseno’s ‘Arco’ EarringsFor its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.
Policies & IssuesJul 11, 2025
James Avery to Donate $1M to Texas Hill Country Relief EffortsThe jewelry company is one of several contributing to relief efforts in the region after the recent floods.
TrendsJul 11, 2025
Kelly Osbourne’s Engagement Ring Is Sweet as HoneyInspired by fiancé Sid Wilson’s nickname for her, the white and yellow diamond ring features a unique honeycomb design.
CollectionsJul 10, 2025
Penny Preville Celebrates 5 Decades of Jewelry DesignThe brand is marking its 50th anniversary with a limited-edition bangle, high jewelry suites, new collections, and more.
IndependentsJul 10, 2025
Steven Goldfarb to Retire, Close Alvin Goldfarb JewelerGoldfarb said changes in the industry, coupled with his age and the updates needed to modernize his business, drove his decision.
MajorsJul 10, 2025
LVMH Names New Chairman, CEO of the AmericasLongtime LVMH executive Michael Burke has stepped into the role.
Events & AwardsJul 10, 2025
IAC Gold and Diamond Conference Returns to NYC Central topics of next week’s event include climate action, labor rights, artisan preservation, and value retention in producing countries.
