Editor’s Note
Gemfields Group has divested its stake in the historic Fabergé brand to SMG Capital for $50 million, marking a significant shift in its strategic portfolio.
African emerald, ruby, and sapphire mining company Gemfields Group has sold its stake in the iconic luxury brand Fabergé to SMG Capital for $50 million (about R889.4 million).
said Gemfields Group CEO Sean Gilbertson in a statement.
he added.
Of the total sum, $45 million was payable to Gemfields by the buyer on completion of the sale, which was expected on August 28, 2025. The remaining $5 million was payable by way of quarterly royalty payments at a rate of 8% of Fabergé’s revenue.
Fabergé is one of the world’s most renowned names in luxury, underscored by a well-documented heritage. The brand sells jewellery and objets d’art through its website, boutiques, and via international wholesale partners.
The sale concludes Gemfields’ strategic review in respect of Fabergé, which was first announced in December 2024 and then was also paused to facilitate Gemfields’ rights issue that was completed on June 13, 2025.
said Gilbertson.
The sale proceeds would provide additional working capital while the new processing plant at Montepuez Ruby Mining in Mozambique was operationalised, and mining at Kagem in Zambia was progressively expanded, having been suspended during the first half of 2025.
Gilbertson said brands as iconic and beautiful as Fabergé did not change hands very often.
SMG Capital CEO Sergei Mosunov said Fabergé’s unique heritage, with ties to Russia, England, France, and the US, opened significant opportunities to further strengthen its position in the global luxury market and expand its international presence.
Fabergé would continue to focus on jewellery, accessories, and timepieces.
SMG Capital is a US-based investment company owned by Sergei Mosunov. Mosunov is a tech entrepreneur and venture capitalist. Through SMG Capital, Mosunov invests in luxury brands and innovative businesses with strong heritage and global growth potential.
Gemfields’ share price gained 0.74% to R1.36 on the JSE Monday afternoon; a year ago, the share price was higher at R2.47.