Hatching a New Fabergé

In pre-Revolutionary Russia, opulence was synonymous with Faberge, jewelry maker to the Czar, who was fond of its gem-encrusted enamel eggs. But in the 90 years since the company produced its last bejeweled bauble, the Faberge name has been licensed—by Unilever Group, among others—to sell mid-price cosmetics and cologne. Now a London-based private equity firm specializing in gem mining, Pallinghurst Resources, has bought the name for an undisclosed amount, recruiting two Faberge heirs as advisers as it tries to burnish the brand. Among its plans: A new egg in 2009. Original Faberge eggs (50 of the 69 are accounted for) are prized by collectors. In November, the Russian National Museum paid $18.5 million at auction for one once owned by a Rothschild. "It is likely that the new egg will tour Russia," says Pallinghurst partner Sean Gilbertson. "Whether it will be bought by a Russian remains to be seen."
—Ben Levisohn..