SMG Capital to acquire Fabergé from Gemfields for $50m.

SMG Capital, an investment company, agreed to acquire Fabergé, a luxury brand, from Gemfields, a miner and marketer of coloured gemstones, for $50m. "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 afficionados," Sergei Mosunov, SMG Capital CEO and Owner.