Gemfields Group Limited has agreed to sell its wholly owned luxury brand Faberg\u00e9 Limited to US-based SMG Capital LLC for $50 million. The deal includes $45 million payable on completion, expected on 28 August 2025, and a further $5 million through quarterly royalty payments at 8% of Faberg\u00e9\u2019s revenue.<\/p>\n
The sale follows Gemfields\u2019 strategic review of Faberg\u00e9, first announced in December 2024 and later paused for its June 2025 rights issue. Proceeds will strengthen working capital as Gemfields expands operations at its Montepuez ruby mine in Mozambique and restarts mining at the Kagem emerald mine in Zambia.<\/p>\n
Sean Gilbertson, Group CEO of Gemfields, commented: \u201cHaving initiated our strategic review of Faberg\u00e9 in response to the considerable challenges Gemfields started facing in Q4 2024, today\u2019s sale marks the end of an era for us. Faberg\u00e9 has played a key role in raising the profile of the coloured gemstones mined by Gemfields and we will certainly miss its marketing leverage and star power. I extend our admiration and sincere thanks to the Faberg\u00e9 team for their fortitude and the progress they have delivered over the years. Brands as iconic and beautiful as Faberg\u00e9 do not change hands very often and we wish the team and Mr Mosunov every success as they perpetuate the unrivalled legacy of Faberg\u00e9.\u201d<\/p>\n
Sergei Mosunov, CEO and owner of SMG Capital LLC, commented: \u201cIt is a great honour for me to become the custodian of such an outstanding and globally recognised brand. Faberg\u00e9\u2019s unique heritage, with ties to Russia, England, France and the USA, opens significant opportunities for further strengthening its position in the global luxury market and expanding its international presence. Faberg\u00e9 will continue to focus on jewellery, accessories and timepieces and we look forward immensely to providing exceptional service to Faberg\u00e9\u2019s existing retail and wholesale customers, and to warmly welcoming new brand afficionados.<\/p>\n
\u201cWe thank the Gemfields team for their contribution to the development of Faberg\u00e9 and look forward to working closely with the brand\u2019s talented team. As Carl Faberg\u00e9 said: \u201cThere is no point in gems if you cannot turn them into a story.\u201d We feel a deep sense of responsibility and incredible inspiration for the work ahead.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Gemfields Group Limited has agreed to sell its wholly owned luxury brand Faberg\u00e9 Limited to US-based SMG Capital LLC for $50 million. The deal includes $45 million payable on completion, expected on 28 August 2025, and a further $5 million through quarterly royalty payments at 8% of Faberg\u00e9\u2019s revenue. The sale follows Gemfields\u2019 strategic review…<\/p>\n","protected":false},"author":1,"featured_media":32731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-32730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n