Business magnate gains ownership of prestigious brand Fabergé, parting with a sum of $50 million
Fabergé Changes Hands for $50 Million
After a decade under Gemfields' ownership, the iconic luxury brand Fabergé has been acquired by American tech entrepreneur Sergei Mosunov's US-based private investment firm, SMG Capital, for $50 million. The deal, announced in August 2025, includes an immediate payment of $45 million and a further $5 million in licensing fees.
The sale marks a strategic shift for Gemfields, allowing the company to focus on its core mining operations. For Mosunov, it presents an opportunity to leverage his luxury brand management expertise to grow Fabergé globally.
Founded by Peter Carl Fabergé in 1842, the brand is renowned for its exquisite jewelry, accessories, and timepieces. Under the new ownership, Fabergé will continue to sell these products via boutiques, e-commerce, and wholesale channels.
Mosunov plans to maintain Fabergé’s focus on jewelry, accessories, and timepieces while expanding its global presence. He aims to grow the brand's footprint internationally without altering its iconic product lines.
The acquisition could drive new product developments for Fabergé, potentially strengthening its position in the luxury market. Analysts at Panmure Liberum view the sale as a "good outcome" for Gemfields, reflecting the positive prospects for Fabergé under its new owner.
The nine Fabergé imperial eggs that were previously owned by the Forbes media family in New York were among the most famous of the around 50 eggs created by Fabergé between 1885 and 1916 for the Russian tsars. In 2004, these nine eggs were bought by oligarch Viktor Vekselberg for over $90 million.
Gemfields' CEO, Sean Gilbertson, described the sale as "the end of an era". However, Mosunov considers it a great honor to take on the responsibility for Fabergé. The purchase not only frees up much-needed capital for Gemfields but also marks the beginning of an exciting new chapter for Fabergé.
In 2022, Gemfields reported an after-tax loss of $100.8 million, compared to $2.8 million in the previous year. The company's annual revenue fell by 19% to $213 million, from $262 million in the previous year. The sale of Fabergé is expected to help Gemfields address these financial challenges and refocus on its mining operations.
With the acquisition, Fabergé enters a new era under the leadership of Sergei Mosunov. The brand's legacy and product focus will be preserved, with plans for global expansion spearheaded by SMG Capital. The future looks bright for this legendary luxury brand.
What will Fabergé's new owner, Sergei Mosunov, do with the brand? He plans to preserve the legacy and product focus of Fabergé while expanding its global presence. This move could lead to new product developments, potentially strengthening its position in the luxury market.
