Gemfields Buys Fabergé
January 08, 13
The company said it wishes to create a “globally recognized colored gemstone champion” and that Fabergé would provide it with “direct control over a high-end luxury goods platform and a global brand with an exceptional heritage.” "We have the opportunity to acquire what is certainly I believe, a brand with exceptional heritage ... having been the brand that has provided jewelry to kings and queens, princes, tsars and leaders of the world over many many years," said Gemfields chief executive Ian Harebottle. I have no doubt that Fabergé will help to further accelerate demand for Gemfields' ethically sourced premium colored gemstones, actively championing the colored gemstone industry and providing a directly-controlled showcase for our finest gems. We look forward to moving into what is a considerably larger and grander market space than that which was previously available to the Gemfields brand." The acquisition would further Gemfields “Mine and Market” strategy and position Fabergé as, “the colored gemstone retailer of choice, within the hard luxury retail sector.” According to the Bain Luxury Market Study, this sector had an estimated turnover of $54 billion in 2011. The Fabergé brand, which is best known for creating lavish be-jewled eggs for the Russian aristocracy, was relaunched in 2009, when it presented its first collection since 1917.
Image: Gemfields