Latest news with #GemfieldsGroup
Time of India
7 hours ago
- Business
- Time of India
Gemfields sells Fabergé eggs maker for $50 million
Gemfields Group said on Monday it had sold Faberge Ltd, the maker of the jewelled Faberge eggs, to SMG Capital for $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. Faberge, which also makes luxury jewellery , watches and commissioned pieces, was founded by Gustav Faberge in 1842, and is best known for the success of the 50 jewelled eggs commissioned by the Imperial Russian family from 1885 through to 1916. The Russian Revolution brought a violent end to the House of Faberge, when the Bolsheviks seized workshops and closed down all production and the family fled. It was relaunched in 2009 with its first collection since 1917. Gemfields on Monday said it would use proceeds from the deal for capital at its mining operations in Mozambique and Zambia.
TimesLIVE
a day ago
- Business
- TimesLIVE
Gemfields sells Fabergé for $50m for capital at Mozambique, Zambia mines
Gemfields Group said on Monday it had sold Fabergé, the maker of the jewelled Fabergé eggs, to SMG Capital for $50m (R885.7m), 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. Fabergé, which also makes luxury jewellery, watches and commissioned pieces, was founded by Gustav Fabergé in 1842, and is best known for the success of the 50 jewelled eggs commissioned by the Imperial Russian family from 1885 through to 1916. The Russian Revolution brought a violent end to the House of Fabergé, when the Bolsheviks seized workshops and closed down all production and the family fled. It was relaunched in 2009 with its first collection since 1917. Gemfields on Monday said it would use proceeds from the deal for capital at its mining operations in Mozambique and Zambia.
Fashion Network
a day ago
- Business
- Fashion Network
Gemfields sells Fabergé eggs maker for $50 million
Gemfields Group said on Monday it had sold Fabergé Ltd, the maker of the jewelled Fabergé eggs, to SMG Capital for 50 million dollars, 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. Fabergé, which also makes luxury jewellery, watches and commissioned pieces, was founded by Gustav Fabergé in 1842, and is best known for the success of the 50 jewelled eggs commissioned by the Imperial Russian family from 1885 through to 1916. The Russian Revolution brought a violent end to the House of Fabergé, when the Bolsheviks seized workshops and closed down all production and the family fled. The business was relaunched in 2009 with its first collection since 1917. Gemfields on Monday said it would use proceeds from the deal for capital at its mining operations in Mozambique and Zambia.
Fashion Network
a day ago
- Business
- Fashion Network
Gemfields sells Fabergé eggs maker for $50 million
Gemfields Group said on Monday it had sold Fabergé Ltd, the maker of the jewelled Fabergé eggs, to SMG Capital for 50 million dollars, 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. Fabergé, which also makes luxury jewellery, watches and commissioned pieces, was founded by Gustav Fabergé in 1842, and is best known for the success of the 50 jewelled eggs commissioned by the Imperial Russian family from 1885 through to 1916. The Russian Revolution brought a violent end to the House of Fabergé, when the Bolsheviks seized workshops and closed down all production and the family fled. The business was relaunched in 2009 with its first collection since 1917. Gemfields on Monday said it would use proceeds from the deal for capital at its mining operations in Mozambique and Zambia.
Fashion Network
a day ago
- Business
- Fashion Network
Gemfields sells Fabergé eggs maker for $50 million
Gemfields Group said on Monday it had sold Fabergé Ltd, the maker of the jewelled Fabergé eggs, to SMG Capital for 50 million dollars, 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. Fabergé, which also makes luxury jewellery, watches and commissioned pieces, was founded by Gustav Fabergé in 1842, and is best known for the success of the 50 jewelled eggs commissioned by the Imperial Russian family from 1885 through to 1916. The Russian Revolution brought a violent end to the House of Fabergé, when the Bolsheviks seized workshops and closed down all production and the family fled. The business was relaunched in 2009 with its first collection since 1917. Gemfields on Monday said it would use proceeds from the deal for capital at its mining operations in Mozambique and Zambia.
