The jewelry legend changes its owner: Fabergé bought by a Russian for $50 million
11 August 21:42
Gemfields Group Limited has announced that it has signed an agreement to sell 100% of its stake in the luxury brand Fabergé Limited to SMG Capital LLC, an investment company owned by Sergey Mosunov, for a total of $50 million. This is reported by "Komersant Ukrainian" with reference to a press release from Gemfields Group.
Of the total amount, $45 million will be paid at the closing of the transaction, which will take place on August 28, 2025. The remaining $5 million will be paid quarterly in the form of royalties, which will amount to 8% of Fabergé’s revenue.
The sale is not subject to any regulatory or other shareholder approval as it is classified as a category two transaction under the JSE’s requirements.
Why the owner of Fabergé sold the luxury jewelry business
The decision to sell Fabergé was part of a strategic review initiated at the end of 2024 due to financial challenges. Gemfields CEO Shaun Gilbertson emphasized that the brand played a key role in raising awareness of colored gemstones, but the company wants to focus on its core business of mining emeralds and rubies.
In addition, he noted that the sale marks the “end of an era” for the company, which has faced “significant difficulties”: the group’s loss in 2024 amounted to $100.8 million.
The company will use the proceeds to launch a new processing plant at Montepeuz Ruby Mining in Mozambique (South Africa) and expand production at the Kagem mine in Zambia (also South Africa), where operations were suspended in the first half of 2025.
Read also: ARMA to sell Faberge and Cartier to Medvedchuk
What is known about the Russian who bought the jewelry brand
Sergey Mosunov is an entrepreneur and venture capitalist known for his activity in the field of technology, innovation and high-end goods. He was born in Nizhny Novgorod, Russia. Here he studied at the Yevstigneev Nizhny Novgorod Theater School and headed the financial company Mosunov and Partners (in addition to his participation in SMG Capital).
According to Russian media, the businessman currently lives in London (UK). Mosunov moved to London after his political associate, former mayor of Nizhny Novgorod Yelizaveta Solonchenko. In 2020, the woman was arrested in absentia by the Moscow District Court of Nizhny Novgorod in a bribery case. According to the investigation, Mosunov’s partner illegally received about 80 million rubles from entrepreneurs.
The new owner of the jewelry house is also known as a co-founder of Garage Syndicate, a private venture capital club that brings together investors and entrepreneurs to jointly participate in early-stage startups. Mosunov is also a co-founder of AngelsDeck, a platform that specializes in finding promising investment projects.
He has experience in more than a hundred startup investment deals around the world. Among the companies he has invested in are Rappi, Bolt, Kraken, Tanium, and others.
“This deal is a unique opportunity to combine the brand’s heritage, which is closely linked to the history of Russia, the UK, France and the US, with modern trends in luxury,” Mosunov said.
According to him, Fabergé’s development strategy envisages preserving its key areas – jewelry, accessories and watches – and expanding its global presence.
It should be noted that Mosunov has already created a Faberge Telegram channel, where he wrote:
“Carl Faberge would be pleased to see that the mere fact of returning his jewelry house to owners with Russian roots is having such a significant impact on the global gemstone industry.
What you need to know about SMG Capital LLC
SMG Capital LLC is an American investment company wholly owned by Sergey Mosunov, a technology entrepreneur and venture capitalist. SMG Capital’s main focus is investing in luxury brands and innovative businesses with a strong historical heritage and global growth potential.
Public sources indicate that SMG Capital provides “fractional CFO” services for small and medium-sized enterprises. That is, it acts as a part-time CFO, helping businesses with financial management. However, it is important not to confuse this organization with more common financial consulting or corporate services companies.
Fabergé: how the brand’s history was created
Fabergé is a legendary jewelry brand founded in 1842 in St. Petersburg by Gustave Fabergé, a Frenchman. The company gained worldwide fame under the leadership of his son, Peter Carl Fabergé, who turned the workshop into a supplier to the Russian Imperial Court. The most famous pieces were the Imperial Easter eggs made of precious metals and gems, commissioned by the Russian Tsars Alexander III and Nicholas II in 1885-1917.
After the 1917 revolution, the Fabergé family emigrated from Russia, and the brand lost contact with its founders. During the 20th century, the rights to the name passed to different owners several times. In 2007, the brand was revived by Pallinghurst Resources, and later by Gemfields Group, which developed it as a luxury jewelry manufacturer, preserving the tradition of intricate handcraft and the use of unique precious materials.
Today, Fabergé is known not only as a symbol of royal luxury but also as a modern player in the global jewelry and watch market. In 2024, its revenue amounted to $13.4 million.
Читайте нас у Telegram: головні новини коротко
