Fabergé was founded in 1842 and is renowned for its Imperial Russian Easter eggs. The company was purchased by colour gemstone producer Gemfields in 2013 and has now been sold to SMG Capital, a US investment company controlled by Sergei Mosunov.
Mosunov is a Russian national based in the UK and described the purchase as a ‘great honour’.
“Fabergé’s 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,” he said.
“We look forward immensely to providing exceptional service to Fabergé’s existing retail and wholesale customers, and to warmly welcoming new brand aficionados.”
Fabergé rose to prominence after the creation of ornate eggs for the Russian royal family, as commissioned by Tsar Alexander III in the 1800s. There are 50 Imperial Easter eggs in collections around the world.
Gemfields purchased the company from private equity company Pallinghurst as part of a $217 million deal in 2013. CEO Sean Gilbertson described the sale as the ‘end of an era’.
“Having initiated our strategic review of Fabergé in response to the considerable challenges Gemfields started facing in Q4 2024, today’s sale marks the end of an era for us,” he said.
“Fabergé has played a key role in raising the profile of the colored gemstones mined by Gemfields, and we will certainly miss its marketing leverage and star power.”
According to media reporting, Fabergé reported revenue of $13.4 million in 2024. The sale will reportedly be finalised on 28 August.
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