Faberge has been sold to SMG Capital for $50 million, with Sergei Mosunov as the new custodian. Gemfields, which acquired Faberge in 2013 for $142 million, faced financial challenges and put the jeweller up for sale amid political unrest in Mozambique. Revenues for Faberge declined from $15.7 million to $13.4 million in 2024. Gilbertson noted that Faberge significantly raised the profile of Gemfields' coloured gemstones and its departure is a loss. Mosunov highlighted Faberge's global heritage and its potential to enhance the luxury market presence.
Sean Gilbertson noted the substantial impact of Faberge on the coloured gemstones industry, stating it played a key role in enhancing their profile for Gemfields and lamenting the loss of its marketing prowess.
Sergei Mosunov expressed pride in acquiring Faberge, emphasizing a significant opportunity to bolster the brand's global luxury market presence and its unique multicultural heritage.
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