Fabergé, the jeweller famous for its imperial Russian Easter eggs, fell into the red in the year before being sold to a technology investor for $50m (£37m) last month.

The company is set to be taken over by SMG Capital, a US investment company controlled by the tech backer Sergei Mosunov.

Fabergé is currently owned by Gemfields, which mines coloured gemstones in Africa – having bought it in 2013 for $142m from private equity firm Pallinghurst.

The business had been up for sale since December 2024 amid political unrest in Mozambique led it to freeze operations at its ruby mine temporarily.

At the time of the deal announcement in August, it was reported that Fabergé’s revenue had fallen from £15.9m to £13.2m in 2024.

However, new accounts filed with Companies House have now also rev

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