Editor’s Note
This article details the acquisition of the specialist watch brand Baume & Mercier by the Damiani Group from Richemont, marking a significant shift in the luxury watch landscape.
Richemont and Damiani Group, a globally operating Italian family-owned group in the luxury sector, have announced the signing of an agreement for Damiani Group to acquire full ownership of the specialist watch brand Baume & Mercier from Richemont through a private transaction.
This acquisition will allow Damiani Group to expand its portfolio of durable luxury goods, which already includes jewelry brands such as Damiani, Salvini, Bliss, and Calderoni, as well as Venini, a historic Italian glassmaker based on the island of Murano, and Rocca, which handles luxury watches and jewelry for multiple brands.
Through the partnership with the renowned watch brand with a 200-year tradition, Damiani Group can further strengthen its presence in the watchmaking industry.
Richemont believes that Baume & Mercier’s long-term potential can be maximized within the Damiani Group, given its solid presence in Italy, primarily a multi-brand distribution model, and its accessible positioning in the luxury watch segment. As part of the strategy to ensure the enduring success of Baume & Mercier, Damiani Group plans to leverage its multi-brand sales network and gradually open carefully selected mono-brand boutiques in strategic locations to expand the brand’s awareness and reach. To ensure a smooth transition in integrating Baume & Mercier into Damiani Group’s operations, Richemont will provide operational services to the brand for a transition period of at least 12 months following the completion of the transaction. The completion of the transaction is expected in the summer of 2026, subject to the fulfillment of certain preconditions.
The financial terms of the transaction were not disclosed.
Richemont builds the future through excellence. The Group possesses a unique collection of premier maisons distinguished by their craftsmanship and creativity. Richemont’s goal is to support its maisons and businesses, fostering long-term, sustainable, and responsible growth.
Richemont operates primarily in three sectors:
– Jewelry Houses: Buccellati, Cartier, Van Cleef & Arpels, Vhernier
– Specialist Watchmakers: A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, Vacheron Constantin
– Other sectors (primarily fashion & accessories): Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian, TimeVallée, Watchfinder & Co.
Richemont’s ‘A’ shares are listed on the SIX Swiss Exchange, the Group’s primary reference market, and are included in the Swiss Market Index (SMI). They are also traded on the secondary market, the Johannesburg Stock Exchange.
Damiani embodies history, family, and true Italian passion. Founded in Valenza in 1924, Damiani is globally recognized as an Italian jewelry brand for its exceptional craftsmanship. It represents the finest tradition of ‘Made in Italy’. Every piece of Damiani jewelry is a unique masterpiece created by skilled goldsmiths in Valenza, characterized by unparalleled design, the finest gemstones, and meticulous attention to detail.
The company is managed by the Damiani family. From founder Enrico to his son Damiano, and then to his grandchildren Guido, Silvia, and Giorgio, over three generations, Damiani is the only international jewelry group with a century-long history that remains entirely managed by the founder’s successors. It is the only brand in the world to have won 18 Diamond International Awards, the highest accolade in fine jewelry. Its creations are chosen by international celebrities and iconic figures from the film and cultural worlds. It is present in some of the world’s finest luxury boutiques, select department stores, and concept stores.
Through a complementary brand portfolio including jewelry brands Salvini, Bliss, Calderoni, and Rocca – the only Italian chain selling high-end jewelry and watches – as well as Venini, the historic artistic glass manufacturing company founded in 1921 on the island of Murano, whose works are displayed in major international museums, the Damiani Group promotes Italian excellence.