SMG Capital buys Fabergé

Once the jeweller of the Russian Imperial court, creator of the fabled Easter eggs for the Romanovs, Fabergé now turns a new page in its extraordinary story. The house has been acquired for $50 million by SMG Capital, a US investment firm led by technology entrepreneur Sergei Mosunov.

Born in St Petersburg in 1842 and brought to artistic glory by Peter Carl Fabergé, the maison became a symbol of opulence, craftsmanship, and cultural heritage. After the Russian Revolution, its workshops fell silent, until the brand was revived in modern times. Under Gemfields’ ownership since 2013, Fabergé championed the beauty of Africa’s rarest coloured gemstones.

Shifting market winds and political turbulence in Mozambique prompted Gemfields to find a successor worthy of the name. For chief executive Sean Gilbertson, the handover marks “the end of an era”, a farewell to a jewel in the company’s crown.

For Mosunov, a Russian-born, UK-based investor, it is a beginning:

“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.”

Under Mosunov’s stewardship, Fabergé will seek to shine even brighter, its future shaped by the same artistry and narrative spirit that once enchanted emperors, collectors, and dreamers alike.