Gemfields has sold its iconic brand Fabergé to SMG Capital for $50 million.
Fabergé, once synonymous with the pinnacle of gemstone and jewelry artistry—the crown jewel of the Russian Imperial Court—stood alone in the world of luxury. From its origins crafting exquisite treasures for Czar Alexander III and Czar Nicholas II—most famously the imperial jeweled eggs—the house of Fabergé forged a legacy of artistry and mastery, where the finest materials met the most extraordinary craftsmanship.
More than a century later, that legacy entered a new chapter under Gemfields, the gemstone mining group that acquired the brand in 2013 for a reported $142 million. Fabergé became Gemfields’ showcase for their Zambian emeralds and Mozambican rubies, an elegant embodiment of the company’s mine-to-market vision.
Gary Roskin
Roskin Gem News Report
After 10 Years of Ownership
In 2025, Gemfields sold Fabergé to SMG Capital, a U.S. private investment fund led by tech entrepreneur Sergei Mosunov, in a $50 million deal with both upfront and royalty-based components. The reasons for the sale were not publicly detailed, though The Times reports that Gemfields plans to focus on its core mining operations and bolster liquidity. The same article notes that Fabergé generated “just” $13.4 million in revenue in 2024, compared with $117.2 million from ruby mining and $78.7 million from emeralds—figures that suggest, at least in financial terms, the brand never became a major revenue driver for Gemfields.
🗓 Fabergé Sale Timeline
Dec. 2024 – Gemfields announces strategic review of Fabergé, exploring options for the brand. (Gemfields Group)
Aug. 11, 2025 – Sale to SMG Capital announced; deal valued at $50 million. (Forbes)
Aug. 28, 2025 – Expected closing date; $45 million due on completion, with an additional $5 million in quarterly royalties equal to 8% of Fabergé’s revenue. (Rapaport)
According to The Guardian, Gemfields’ CEO described the sale as “the end of an era” and acknowledged that Fabergé “played a key role in raising the profile of the coloured gemstones we mine,” underscoring its marketing value even if commercial returns were more modest.
Whatever the cause, the industry will be keeping a close watch on the venerable jeweler. Its imperial heritage, storied craftsmanship, and century-old brand equity ensure it remains part of the conversation among high jewelry houses. The question now is whether its new owners will build on that legacy.
