Pressure is mounting on the owner of Faberge to sell off the iconic jewellery brand as the firm continues to be 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 disputed election results could cause ‘interruptions’ to operations at its Montepuez ruby mine.
The company, whose global brand ambassador is actress Mila Kunis, said the upheaval, which has seen violent protests, prison escapes and clashes with police, had resulted in several local police stations and offices being set alight.
Under pressure: Gemfields’ global brand ambassador is actress Mila Kunis (pictured)
Growing instability in Mozambique is likely to put further pressure on the company to find ways to save money.
This could include the sale of Faberge. Gemfields said it was ‘assessing strategic options’ for Faberge as part of a cost-cutting programme.
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