Fabergé Limited

Fabergé is one of the world’s most recognised luxury brand names, underscored by a well-documented and globally respected heritage. 

For more information on Fabergé, please visit: www.faberge.com

Financial Performance

Fabergé achieved revenues of US$10.5 million in the year to 31 December 2019.

Points of Sale

Fabergé directly operated three points of sale: a by-appointment boutique at group HQ in London; a concession in Harrods Fine Jewellery Room, London; and a stand-alone boutique located in The Galleria Mall, Houston, Texas.

Assets

Fabergé is one of the world’s most recognised luxury brand names, underscored by a well-documented and globally respected heritage. As a wholly owned subsidiary of Gemfields, Fabergé provides direct access to the end-consumer of coloured gemstones through directly operated boutiques and international wholesale partners, and boosts the international presence and perception of coloured gemstones through its consumer-focussed marketing campaigns.

Points of Sale

For the year to 31 December 2019, Fabergé directly operated three points of sale: a by-appointment boutique at group HQ in London; a concession in Harrods Fine Jewellery Room, London; and a stand-alone boutique located in The Galleria Mall, Houston, Texas, United States of America (“USA”), the state’s premier retail destination.

In addition to its directly operated stores, Fabergé also has partner operated standalone boutiques located at: The Dubai Mall, UAE; Kiev, Ukraine; and Heydar Aliyev International Airport, Baku, Azerbaijan.  Fabergé also continued to expand its global presence during the period via new agreements with multi-brand retail partners. At the end of the year, Fabergé products were available in Australia, Austria, Abu Dhabi Andorra, Azerbaijan, Bahrain, Belgium, Canada, Czech Republic, Dubai, Finland, France, Germany, Greece, Holland, India, Italy, Jordan, Japan, Kuwait, Malta, Moldova, the Netherlands, Norway, Qatar, Romania, Saudi Arabia, South Africa, Switzerland, Thailand, UK, Ukraine and the USA. The total number of Fabergé points of sale increased from 65 to 75 during the period.

Marketing and Communications

Throughout 2019, Fabergé focussed, by way of a blend of digital marketing and print advertising, on fine jewellery collections featuring coloured gemstones, guilloche enamel and high-complication timepieces.

Fabergé’s latest advertising campaign proudly surrounded jewellery pieces with rough Gemfields emeralds and rubies. A champion of sustainable sourcing, Bibi van der Velden’s pieces strive to preserve what is precious. Her Momento Mori Ring, featuring Gemfields gemstones, went on display at the Hermitage Amsterdam in September until March 2020 – the very first piece of contemporary jewellery to be exhibited.

Financial

Fabergé achieved revenues of USD10.5 million in the year to 31 December 2019 (2018: USD13.4 million). During the same period, Fabergé recorded an EBITDA loss of USD6.5 million (2018: USD4.6 million) with average monthly operating expenses of USD0.8 million (2018: USD0.8 million) and a sales margin of 44% (2018: 40%) before any inventory provisions.

Exhibitions and Product Developments

2019 saw two new Fabergé egg objets d’art produced and sold to a client in the Middle East. Fabergé also expanded it’s Colours of Love collection which features Gemfields Rubies and Emeralds, proudly supporting the wider group’s “mine and market” vision.
During the period Fabergé returned to the Doha Jewellery and Watch exhibition, Doha, Qatar for its 8th consecutive year, operated a 3rd consecutive, successful trunk show in Singapore and a coloured gemstone focused event with the high-status department store Wako which is located in Ginza, Tokyo, Japan.
Fabergé also secured its participation at the exclusive Watches and Wonders Exhibition 2020 (formerly known as the Salon International de la Haute Horlogerie) a tremendous and exciting achievement to have been invited to participate in the industry’s most exclusive and elite tradeshow.

From The Directors

Outlook

Fabergé will continue to increase its digital presence, with a greater focus on social media platforms given the reach, adaptability and measurability offered by that medium. Coloured gemstone-set, fine-jewellery collections will remain at the heart of the campaign, allowing Fabergé to seek and utilise synergies with Gemfields’ marketing and to continue to promote the brand’s tagline: A Life in Colour.

As a result of COVID-19, Fabergé’s directly operated retail operations at Harrods in London and the Galleria Mall in Houston are closed. The mono-brand Fabergé boutiques operated by partners in the Dubai Mall and Kiev in the Ukraine are closed. In addition, approximately 80% of the multi-brand retailers that Fabergé sells to are presently closed. Similarly, some 80% of the workshops that supply Fabergé are closed, including Fabergé’s own timepieces workshop in Geneva. 

Related News and Announcements

Trading, Corporate & COVID-19 Update

The Company hereby provides a trading and corporate update including in respect of the COVID-19 pandemic. Gemfields’ priority remains the health and wellbeing of its employees, host communities and customers while striving to safeguard the viability and value of the Company. In each of its countries of operation, Gemfields continues to monitor closely the guidance and advice of the relevant authorities.

Monthly Operational Market Update – 30 June 2020

Gemfields shareholders are advised that the Company has released information about its business related and operational results and financial position up to and including 30 June 2020. The figures have been produced on a monthly‐basis for Gemfields’ 75% owned Kagem emerald mine, its 75% owned Montepuez ruby mine and Fabergé – the iconic luxury brand.