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Pressure is mounting on Fabergé’s owner to sell the iconic jewelery brand as the company remains rocked by protests in Mozambique.
Gemfields, which also mines gemstones in Mozambique, has been the target of protests in the East African country.
It warned on Christmas Eve that “unrest” following the controversial election results could cause “disruptions” to operations at its Montepuez ruby mine.
The company, whose global brand ambassador is actress Mila Kunis, said the unrest, which has sparked violent protests, prison breaks and clashes with police, had led to the burning of several local police stations and police offices.
Under pressure: Gemfields global brand ambassador is actress Mila Kunis (pictured)
Growing instability in Mozambique is likely to put more pressure on the company to find ways to save money.
This could include the sale of Fabergé. Gemfields said it was “evaluating strategic options” for Fabergé as part of a cost-reduction programme.
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