Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
OtherSep 24, 2014
Revenue, profit up for Gemfields in fiscal 2014
Both revenue and profits increased this past fiscal year for Gemfields Plc, which saw the company push into the black as it began selling rubies for the first time.
London--Both revenue and profits increased this past fiscal year for Gemfields Plc, which saw the company push into the black as it began selling rubies for the first time.
The colored gemstone miner reported Monday that revenue hit $160.1 million in its fiscal year ended June 30, up from $48.4 million in the prior-year period.
Gemfields recorded profits of $16.3 million in the 12-month period, a drastic increase from the net loss of $22.8 million it saw in fiscal 2013.
Annual production of emerald and beryl from the company’s main asset, the Kagem mine in Zambia, was 20.2 million carats, down 33 percent from the 30 million carats extracted last year. The company said that this decrease was due to high amounts of rainfall, grade volatility and delays in the next phase of the program to expand the pit size.
Three auctions of emerald and beryl mined at Kagem, two of higher-quality and one of lower-quality rough, were held in Lusaka, Zambia, during the year, generating revenues of $84.4 million.
Traded rough emerald auctions for gems not mined by the company were held in Jaipur, India, in September 2013 and May 2014, generating revenue of $22 million.
Total ruby and corundum extracted from the Montepuez mine in Mozambique, meanwhile, was 6.5 million carats. Gemfields held its first auction featuring the gemstones from that mine in June 2014, realizing $33.5 million and an average per-carat price of $18.43.
RELATED CONTENT: Gemfields’ first ruby auction nets $34M
The auction was 91 percent sold by value and 90 percent sold by volume. Gemfields attributed its success in part to the development of a “first-of-its-kind” comprehensive grading and sorting system that Gemfields developed for rough rubies, which was based on the proprietary rough emerald grading system used at the company’s Kagem emerald mine in Zambia.
The miner said that the next auction of ruby and corundum is scheduled to take place before the end of calendar year 2014.
Meanwhile, Gemfields also recently infused a $2.5 million investment into its Kariba mine to significantly increase production of amethyst and just announced it has acquired an interest in a Sri Lankan company to mine sapphires there.
Fine jewelry house Fabergé, which is 100 percent owned by Gemfields, saw increased unit sales and a 12 percent relative increase in gross profit margins from sales and sales orders during the 12-month period.
The brand
also saw a number of new developments during the fiscal year. Fabergé restructured its operations, implemented a global strategic plan and launched a new advertising campaign called “The Art of Colour.”
Fabergé also exhibited at Baselworld and, in New York, completed its Big Egg Hunt this spring, raising $2.7 million for the “Elephant Family” and “Studio In A School” charities.
Gemfields CEO Ian Harebottle said, “The Kagem emerald mine in Zambia continues to be our cornerstone asset and the fact that Kagem is now a fully tax paying entity (and has distributed its first ever dividends to our partners, the Government of the Republic of Zambia), validates the investment, turnaround and growth initiatives initiated when Gemfields acquired 75 percent of Kagem in June 2008. We are very grateful to our dedicated and hard-working team and remain tremendously excited about our expanding global portfolio of emeralds, rubies and sapphires.”
More on Other
The Latest
ColumnistsMay 27, 2026
What Jewelers Can Learn From Luxury Fashion’s Digital PlaybookHigh-end fashion houses know how to emotionally connect with customers online. Retail jewelers should take note, Emmanuel Raheb writes.
Events & AwardsMay 27, 2026
Couture’s ‘The Iridescence’ Will Showcase 7 Emerging Jewelry DesignersThe designers are the third cohort of mentees from the show’s Belonging @ Couture mentorship program.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
