Gemfields Group sells Fabergé eggs maker for $50M

Gemfields Group has sold Fabergé, its luxury jeweler known for making ornate eggs, for $50 million, the company announced in a statement. The sale concludes a strategic review of the Fabergé business, which was launched by Gemfields at the end of 2024 after facing “considerable challenges,” according to chief executive Sean Gilbertson. “Today’s sale marks the end of an era for us,” Gilbertson said in the statement, adding that the British mining company is now “a more streamlined and focused investment proposition.” Gemfields’ shares have nearly halved over the past year, hit by a downturn in the luxury goods market and violent unrest in Mozambique that impacted ruby mining operations. Founded in 1842, Fabergé is best known for creating 50 elaborate jeweled eggs for the Russian Imperial family between 1885 and 1916. The brand, which produces fine jewelry and watches, was acquired by SMG Capital, a venture capital fund owned by technology entrepreneur Sergei Mosunov. By Laura Avetisyan Read more: Laopu Gold: The jeweler worth queuing for Luxury’s new floor plan: Buccellati joins jewelry elite Richemont sales rise amid resilient demand for Cartier jewelry

Gemfields Group sells Fabergé eggs maker for $50M

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Published August 11, 2025

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Gemfields Group sells Fabergé eggs maker for $50M