Tech magnate purchases Fabergé for an estimated $50 million.
In a significant move in the luxury market, tech entrepreneur Sergei Mosunov has acquired the iconic Fabergé brand, famous for its jeweled eggs, for $50 million. The acquisition was made through SMG Capital, a U.S.-based investment firm owned by Mosunov.
Fabergé eggs, with their intricate designs and precious gemstones, have been a source of fascination and revenue for over a century. Originally founded by Peter Carl Fabergé, the brand created gem-encrusted eggs for Russian emperors Alexander III and Nicholas II between 1885 and 1916. Some of these imperial eggs, such as the Rothschild Clock Egg, continue to sell for millions at auctions, with the Rothschild Clock Egg holding the record for the most expensive Fabergé egg, selling for £8.9 million (approximately $18.5 million) in 2007.
Over the years, Fabergé has undergone several ownership changes. In 2013, it was acquired by the Gemsstock Holdings group, and later in the 2010s, it changed hands again as an independent luxury brand focusing on high-end jewelry and watches. In 2020, the brand was acquired by the LVMH Group (Moët Hennessy Louis Vuitton), a major luxury goods conglomerate.
Under LVMH, Fabergé was expected to expand its position in the high-luxury market by leveraging LVMH’s global infrastructure, focusing on heritage craftsmanship and exclusive collections. However, the brand has now moved to new ownership with Mosunov's acquisition.
Mosunov, who has expressed it as a great honor to become the custodian of the Fabergé brand, plans to direct the company to continue its focus on newer products like watches and jewelry. The sale of Fabergé to Mosunov was preceded by more than 10 years of ownership by UK-based miner Gemfields. Gemfields will receive $45 million when the sale closes later this month and the remaining $5 million through quarterly royalty payments.
Under Mosunov's ownership, the Fabergé brand will continue to produce modern luxury items while maintaining its historical significance. The brand's commitment to craftsmanship and exclusivity, evident in its imperial eggs and contemporary pieces like the Guilloche enamel strawberry surprise egg, which retails for approximately $74,000, ensures its continued appeal in the luxury market.
- With the acquisition of Fabergé, tech entrepreneur Sergei Mosunov aims to broaden its reach in the high-luxury market, focusing on jewelry and watch productions.
- The Fabergé brand, renowned for its exquisite jeweled eggs and rich history, is transitioning to new ownership under Mosunov, following more than a decade under UK-based miner Gemfields.
- Mosunov's investment firm, SMG Capital, bought the brand for $50 million, and plans to maintain its historical significance while producing modern luxury items.
- Art pieces like the Guilloche enamel strawberry surprise egg, retailing for around $74,000, demonstrate Fabergé's commitment to craftsmanship and exclusivity that will continue under Mosunov's leadership.
- Despite several ownership changes over the years, Fabergé's historic imperial eggs, such as the Rothschild Clock Egg, have consistently commanded high prices at auctions, with the record sale reaching an estimated $18.5 million.
- Alongside the luxury goods market, this acquisition is likely to have significant implications for technology, business, and finance, as Mosunov's background in tech and finance could bring innovative practices and strategies to the Fabergé brand.
