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

In 2023, Fabergé achieved revenue of USD15.7 million (2022: USD17.6 million).

Points of Sale

For the twelve months to 31 December 2023, Fabergé directly operated two points of sale: a concession in the Harrods Fine Jewellery Room, London, UK and mono-brand boutiques located in the world-famous Dubai Mall, Dubai, UAE. The total number of Fabergé points of sale increased from 128 to 145 during the period.

Assets

Fabergé is one of the world’s most renowned names in luxury, underscored by a well-documented, rich, illustrious 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-focused marketing campaigns.

Points of Sale

For the twelve months to 31 December 2023, Fabergé directly operated two points of sale: a concession in the Harrods Fine Jewellery Room, London, UK and mono-brand boutiques located in the world-famous Dubai Mall, Dubai, UAE.

In addition, Fabergé products are listed for purchase online via Faberge.com, Net-A-Porter, Harrods.com, Farfetch, Saks.com and a host of other third-party online marketplaces.

The total number of Fabergé points of sale increased from 128 to 145 during the period.

Marketing and Communications

Fabergé expanded its chic, contemporary Colours of Love collection (which champions the use of Gemfields gemstones across a variety of products), including an extension to the Cosmic Curve rings with the addition of a rainbow bracelet, necklace and earrings.

Fabergé works closely, but not exclusively, with Gemfields when sourcing exceptional coloured gemstones for its contemporary jewellery collections. The relationship between Gemfields and Fabergé continues to grow, exemplifying our mine and market strategy.

Financial

In 2023, Fabergé achieved revenue of USD15.7 million (2022: USD17.6 million). The decrease in revenue was driven by a reduction in wholesale sales and the one-off sale of the Fabergé x Game of Thrones egg objet in 2022.

During the same period, Fabergé recorded an EBITDA loss of USD3.7 million (2022: EBITDA loss of USD1.5 million), with operating expenses of USD9.8 million (2022: USD9.2 million).

Product Developments

For the year ending 31 December 2023, Fabergé added a series of neon egg pendants to the Essence collection. Available in two different egg sizes, the lacquered egg pendants are available in neon shades of pink, orange, green, blue and yellow.

The Fabergé x Game of Thrones high jewellery collection expanded to include two new rings, with one of the pieces, featuring Gemfields Mozambican rubies, debuting at Gemfields’ Paris Couture showcase in July for ruby month.

Fabergé extended the ‘Fabergé in Bloom’ series of limited-edition, floral-inspired egg objets, with the addition of Wild Rose, Twin Flower, Anemone and Cactus egg objets.

The best-selling Heritage surprise lockets received some new additions to the collection, including two new surprises (a Crown and State Coach) to commemorate the coronation of King Charles III, as well as two new animal surprises – a Turtle and a Bee, the latter of which donates a portion of sales to the Prince Albert II of Monaco Foundation.

From The Directors

Fabergé continues to promote coloured gemstones through its mission to celebrate ‘A Life in Colour’, which champions the use of Gemfields gemstones across a variety of products

Chief Executive

The Fabergé Inventory Partner Programme

Parties of good standing are invited to apply to Fabergé regarding participation in its programme for Fabergé Inventory Partners (“FIPs”). In short, FIPs pay the cost price of mutually agreed items of jewellery and participate in 50% of the upside. For more information please click here.

Related News and Announcements

Operational Update to 30 June 2024

Gemfields shareholders are advised that the Company has released information about its operational results and financial position for the six months ended 30 June 2024. These unaudited 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. The full operational results and an excel spreadsheet of Gemfields’ historic figures can be found at this link: https://www.gemfieldsgroup.com/operational-update/.

Operational Update up to 31 December 2023

Gemfields shareholders are advised that the Company has released information about its operational results and financial position for the six months ended 31 December 2023. These unaudited 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. The full operational results can be found at this link: https://www.gemfieldsgroup.com/operational-update/.
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