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U.S. Firm Buys Fabergé For $50 Million—Here's What To Know About The Company (And Its Famous Eggs)

On Monday, Gemfields Group sold Fabergé Ltd to SMG Capital for $50m, strengthening its balance sheet as part of a business streamlining effort.
Amid headwinds including emerald oversupply, Gemfields Group launched a strategic review late last year that led to the sale of Fabergé for $50 million.
Results published in June showed Fabergé Ltd’s revenue fell 15% to $13.4 million in 2024 with a $5.7 million operating loss, and net debt was $59.6m as of June 30.
Gemfields Group said the sale has strengthened its balance sheet and will fund a new processing plant at Montepuez Ruby Mining in Mozambique and expand emerald mining at Kagem in Zambia.
Opportunities arise as SMG Capital, led by Sergei Mosunov, plans global expansion of Fabergé’s jewelry, timepieces, and accessories, leveraging its heritage across Russia, England, France, and the United States.

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