Legendary name changes owner: Fabergé brand sold for $50 million

British Gemfields Group Limited announced the sale of the world-renowned jewelry brand Fabergé to the American investment company SMG Capital LLC. The deal amounted to $50 million, and the company plans to use the proceeds to develop precious stone mining and strengthen financial stability. This was reported by Gemfieldsgroup, writes UNN.

Details

Gemfields Group Limited, which owned the rights to the Fabergé brand since 2013, decided to transfer the legendary name to a new owner – the American investment company SMG Capital LLC. The parties valued the deal at 50 million US dollars.

Gemfields explained that the sale of the brand is not related to the crisis, but is part of a strategic focus. The company aims to concentrate on its core business - mining precious stones, particularly emeralds in Zambia and rubies in Mozambique. This step, according to Gemfields representatives, will help improve the balance sheet and more effectively invest in mining projects.

Fabergé, founded in 1842 by Carl Fabergé, gained worldwide fame thanks to its unparalleled jewelry, including the famous Easter eggs created for the Russian imperial family. For more than a century and a half, the brand has undergone several changes of ownership, but has retained its reputation as a symbol of luxury and sophistication.

SMG Capital has not yet disclosed details of its plans for the development of Fabergé, but, according to industry experts, the new owner may expand the brand's presence in the North American and Middle Eastern markets, as well as invest in new jewelry collections.

Thus, one of the world's most famous jewelry brands begins a new stage in its history under American management.

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