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Fabergé takes prize at the 'Oscars' of global watch industry, says Gemfields

A ladies' Fabergé watch has walked away with a prestigious Swiss watchmakers industry prize, revealed Gemfields (LON:GEM), which owns the luxury jewellery business.
Fabergé takes prize at the 'Oscars' of global watch industry, says Gemfields
Strutting its stuff - the'Lady Compliquée Peacock' watch.

A ladies' Fabergé watch has walked away with a prestigious Swiss watchmakers industry prize, revealed Gemfields (LON:GEM), which owns the luxury jewellery business.

The Grand Prix d'Horlogerie de Genève (GPHG) is widely regarded as the 'Oscars' of the watch industry, and presents accolades in 12 categories to the finest creations and the watch-making houses behind them.

Faberge's winner in the 'Ladies Hi-Mechanical' category was the 'Lady Compliquée Peacock'  watch.

Gemfields chief executive Ian Harebottle said today: "We are honoured to win this prestigious award, in particular because this is the launch year of our new watch collections.

"The achievement provides a glimpse into the incredible effort delivered by the Faberge' team over the past few years and clearly cements Fabergé's reputation as a leader in the watch world, all in less than two years since our in-house watch team was established.

"In addition to a number of other core brand elements that have recently been developed, the team has managed to deliver four original watch ranges, including the Visionnaire gentlemen's flying tourbillon, two ladies watches short-listed for the GPHG and one GPHG winner."

He added: "Winning this award will transform Fabergé's recognition and following in the luxury world and I thank and congratulate the team."

Broker Investec noted: "A positive development for Gemfields demonstrating progress as management has worked to turn Faberge around and re-establish its credibility as a premium jewellery brand."

Shares in Gemfields dipped 2.6% to 46.75p each.

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