Fabergé reports 198% jump in January sales
Monday 03 March 2014
Jewellery brand Fabergé, owned by ethical emeralds miner Gemfields, reported January sales ahead 198 per cent compared with the previous year as it stepped up its promotional activity.
Gemfields chief executive Ian Harebottle said the brand will “takeover Harrods” next month with an exhibition promoting jewellery and eggs for Easter. It will also launch "The Fabergé Big Egg Hunt" in New York next month.
The brand, previously famous for intricate jewellery egg designs and objet d’art made for Russia's ruling royal family, was bought by Gemfields in 2012.
It last year hired former Harry Winston executive Robert Benvenuto as Fabergé president to lead the expansion of the brand to re-create its popularity.
Gemfields, advertised by actress Mila Kunis, said half-year earnings were 8 per cent weaker at $18 million (£11 million) due to the marketing costs to promote its brands.
Total sales for the six months to the end of December at Gemfields jumped 137 per cent to $65.7 million.
The group has further emerald and ruby auctions planned this year and hopes to purchase an option to mine sapphires this year.
Harebottle said: "Demand for coloured gemstones remained upbeat as is clearly indicated by the record per carat prices we continue to achieve."
Last week its rough emerald and beryl auction in Lusaka, Zambia reported a record US$36.5 million of sales.
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