Gemfields Sells Fabergé to SMG Capital for $50 Million to Focus on Mining Operations
Gemfields Offloads Fabergé in $50M Deal to Boost Mozambique and Zambia Mining Projects
Gemfields Group has sold luxury jeweller Fabergé Ltd to investment firm SMG Capital for $50 million, marking a significant step in the coloured gemstone miner’s strategy to streamline operations and refocus on its core mining business.
The sale follows a strategic review launched late last year. Gemfields acquired Fabergé in 2012 to strengthen its gemstone portfolio and leverage the brand’s prestige to promote its jewellery offerings.
Founded in 1842 by Gustav Fabergé, the brand became world-famous for its ornate, jewelled eggs — 50 of which were commissioned by the Russian Imperial family between 1885 and 1916.
The House of Fabergé collapsed following the 1917 Russian Revolution, when Bolsheviks seized its workshops. After decades of dormancy, the brand was revived in 2009, debuting its first new collection in nearly a century.
Fabergé’s portfolio includes high-end jewellery, timepieces, and bespoke commissioned creations.
Gemfields said proceeds from the sale will be channelled into its mining operations in Mozambique and Zambia, reinforcing its focus on coloured gemstones, including rubies and emeralds.
