Fabergé Has Been Sold
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Fabergé · the legendary jeweller whose Imperial Easter eggs once graced the court of the Romanovs · enters a new era. In a $50 million acquisition, the house has been entrusted to SMG Capital, the US investment firm led by technology investor Sergei Mosunov.
Founded in St Petersburg in 1842 and immortalised by Peter Carl Fabergé’s creations for the Russian Tsars, the maison has woven together craftsmanship, artistry, and history for more than a century. After decades of dormancy following the Revolution, Fabergé’s name was revived and, under Gemfields’ stewardship since 2013, became an ambassador for the rarest coloured gemstones mined in Africa.
But political unrest in Mozambique and a slowdown in the luxury sector led Gemfields to seek a new guardian for the brand. For Sean Gilbertson, Gemfields’ chief executive, the sale is “the end of an era”, a farewell to a house whose “marketing leverage and star power” elevated its jewels to global prestige.
For Mosunov, a Russian-born, UK-based venture capitalist, it is the beginning of an inspired journey:
“It is a great honour for me to become the custodian of such an outstanding and globally recognised brand. 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. Fabergé will continue to focus on jewellery, accessories and timepieces, and we look forward immensely to providing exceptional service to Fabergé’s existing retail and wholesale customers, and to warmly welcoming new brand aficionados. We thank the Gemfields team for their contribution to the development of Fabergé and look forward to working closely with the brand’s talented team. As Carl Fabergé said: ‘There is no point in gems if you cannot turn them into a story.’ We feel a deep sense of responsibility and incredible inspiration for the work ahead.”
With Mosunov at the helm, Fabergé’s next chapter promises to expand its presence on the global stage, carrying forward its Imperial splendour, Parisian elegance, and modern craftsmanship, always bound by the same guiding truth: every gemstone deserves to become a story.
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