Gemfield Group just sold Fabergé – beloved by Elton John and made famous by Imperial Russia – to SMG Capital for US$50 million
Gemfields Group said on Monday it had sold Fabergé Ltd, the maker of the jewelled Fabergé eggs, to SMG Capital for US$50 million, as the coloured gemstones miner ramps up efforts to streamline its business.
The sale concludes a review of the business started by Gemfields late last year. The group had bought the jeweller in 2012 to boost its gems business and use the brand name to promote its jewellery.
But what are Fabergé eggs, and how did they become a status symbol for the wealthy?
The first Fabergé egg was commissioned in 1885 by Russia’s Emperor Alexander III as an elaborate Easter egg for his wife, Empress Maria Feodorovna.
