A Russian has purchased the legendary brand Fabergé for 50 million dollars: what is known about the deal.

The company Gemfields Group Limited sold the Fabergé brand for 50 million dollars. The new owner is Russian Sergey Mosunov, who is an entrepreneur and venture investor in the United Kingdom.

The reason for the sale of Fabergé was significant operational losses in recent times. Gemfields decided to sell the ownership rights to the brand in order to focus on its core activities of mining emeralds and rubies.

The new owner of the brand became the investment company SMG Capital LLC, which is owned by Sergey Mosunov. The sale price was 50 million dollars, part of which was paid in a lump sum, and the remainder will be settled in the form of royalties quarterly.

The Fabergé brand is known for its history dating back to the 19th century, when it was founded by Gustav Fabergé. Under the leadership of his son Karl, the brand became famous for its Easter eggs made of precious materials that were created for Russian emperors. After many changes in ownership, Fabergé was revived in 2007 by the investment fund Pallinghurst Resources.