Pursuits
Gilbertson Expects Faberge’s Value to Top $1 Billion in 3 Years
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Brian Gilbertson, former head of BHP Billiton Ltd. and investor in Faberge, expects the value of the Russian jewelry brand to jump sixfold to exceed $1 billion in about three years, with “relatively little” investment.
Gilbertson’s Pallinghurst Resources Ltd., part of a group that acquired Faberge in 2007, has spent about $60 million developing the brand, the entrepreneur said in an interview in Johannesburg yesterday. Pallinghurst values its 49 percent stake at $86.6 million, which would make Faberge worth $173 million.