The luxury brand Fabergé has sold Tech Investor for $ 50 million

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The technological entrepreneur Sergei Mosunov broke the luxury brand Fabergé, known for its extravagant jewelry eggs, in an agreement worth $ 50 million.

The brand, whose craftsmanship has become a symbol of wealth, was sold to SMG Capital in Mosunov, an investment company based in the United States, more than a decade after being bought by the British group Gemfields.

Gemfields, a minor of colorful stones, will receive $ 45 million at the conclusion of the agreement later this month, and the remaining $ 5 million in quarterly fees payments.

The jeweler Peter Carl Fabergé made his eponymous eggs from precious stones and precious metals in his workshop in Saint Petersburg, with the first commanded for the Russian Tsar Aleksandr III and the Tsar Nikolai II as Easter gifts.

Out of around 50 eggs made for the imperial family between 1885 and 1916, more than 40 survived. In 2004, Viktor Vekselberg, an oil and gas magnate, paid more than $ 90 million for nine imperial eggs – the second largest collection of Fabergé eggs in the world at the time. They were previously detained by the Forbes media family in New York.

Fabergé continued to sell jewelry, watches and other “egg objects” – an object of surprise eggs in guilloloche enamel in Guilloche costs 58,080 £.

Mosunov, partner of the venture capital company The Garage Syndicate, said that it was “a great honor for me to become the goalkeeper of such an exceptional and world recognized brand”. He added that the company would continue to focus on jewelry, accessories and watches.

Sean Gilbertson, managing director of Gemfields, said that “today’s sale marks the end of an era for us”, adding: “Fabergé played a key role in the elevation of the profile of colorful precious stones extracted by Gemfields and we will certainly miss its marketing lever and star power effect.”

Gemfields launched a strategic examination of Fabergé in December after the group met “considerable challenges” during its last quarter.

The London -based minor posted a loss after tax of $ 100.8 million in 2024, against a loss of $ 2.8 million in 2023. The revenues for the year were $ 213 million, down 19% compared to $ 262 million.

Panmure Liberum analysts said it was “a good result for Gemfields, releasing capital”.