29 March 2008


Pallinghurst Ressources restructures and clarifies coloured stones business.

By buying the prestigiuous Fabergé name from Unilever, Fabergé will once again be synonymous with exceptional quality ( - and not awful aftershave).

In its quest to create a new industry business model and restructuring the coloured stone distribution channels, Pallinghurst has constituated a rather large gemstone mines portfolio and has proposed a reverse takeover bid in Gemfields (miner listed on AIM).

Fabergé Limited has agreed to grant Gemfields an option to acquire a worldwide and exclusive 15 year license to use the Fabergé brand name in respect of gemstones (excluding diamonds) mimicking De Beer's mine-to-market business approach and creating further value under the Fabergé name.

Using the De Beer's (again) led Kimberly Program as a model and in a bid to increase the stones' value, their origin will be disclosed and the mines will be subject to monitoring to ensure that the gems are produced "ethically".
"We will guarantee the provenance," CEO Pallinghurst Gilbertson said.

Fabergé Ltd has appointed Tatiana and Sarah Fabergé to its supervisory council. The two are great-great-granddaughters of the founder of House of Fabergé, Gustav Fabergé, and will oversee product development for the business.

The House of Fabergé, jewellry, tableware and iconic egg maker from Russia was nationalized by the Bolsheviks in 1918. Sam Rubin, an American unrelated to the family, founded Fabergé Inc. after World War II, sold it in 1964, and the company was eventually bought by Unilever, which only sold it to Pallinghurst in January of this year.

A "well done" must be uttered for the very simple and effective Fabergé web page.
Fabergé Ltd Press Release

No comments: