Editor’s Note
This article reports on a significant ownership change in the luxury watch sector, with the Damiani Group acquiring the Baume & Mercier brand from Richemont.
Richemont and the Damiani Group, a prestigious Italian family-owned group operating globally in the luxury sector, announce today that they have signed an agreement for the acquisition by the Damiani Group of full ownership of the specialized watchmaking brand Baume & Mercier from Richemont, through a private transaction.
With this acquisition, the Damiani Group will expand its portfolio of durable luxury goods, which already includes the jewelry brands Damiani, Salvini, Bliss, and Calderoni, as well as Venini, the historic Italian artistic glass producer based in Murano, and Rocca, the multi-brand luxury watch and jewelry distribution chain.
The acquisition of Baume & Mercier, a renowned watch brand with a tradition spanning 200 years, will allow the Damiani Group to further strengthen its presence in the sector.
Richemont and the Damiani Group believe that the full long-term potential of Baume & Mercier can be better realized within the Damiani Group, thanks to the brand’s established presence in Italy, its primarily multi-brand distribution model, and its accessible position in the luxury watch segment. As part of the strategy to ensure the lasting success of Baume & Mercier, the Damiani Group intends to increase the Maison’s visibility and reach by leveraging its multi-brand distribution network and, over time, opening selected mono-brand boutiques in strategic locations. To ensure a smooth transition during the integration of Baume & Mercier into the Damiani Group’s operations, Richemont will provide operational services for the Maison for a transitional period of at least 12 months after closing. The completion of the transaction is expected in the summer of 2026 and remains subject to the satisfaction of certain customary conditions.
The financial terms of the operation have not been disclosed.
Richemont builds the future through excellence. The group owns a unique portfolio of prestigious Maisons, distinguished by craftsmanship and creativity. Richemont’s objective is to support its Maisons and activities, fostering sustainable and responsible long-term growth.
Richemont operates in three main areas:
– Jewelry Maisons: Buccellati, Cartier, Van Cleef & Arpels, Vhernier
– Specialist Watchmakers: A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, Vacheron Constantin
– Other, primarily Fashion & Accessories: Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian, as well as TimeVallée and Watchfinder & Co.
Richemont’s ‘A’ shares are listed on the SIX Swiss Exchange, the group’s primary market, and are included in the Swiss Market Index (SMI). The ‘A’ shares are also traded on the Johannesburg Stock Exchange, a secondary market.
The Damiani Group represents a history, a family, and a true Italian passion. Founded in Valenza in 1924, Damiani is an Italian jewelry Maison renowned worldwide for the excellence of its artisanal creations, a symbol of the best Made in Italy tradition. Every Damiani jewel is a unique masterpiece, crafted by master goldsmiths from Valenza, characterized by exclusive design, exceptional precious stones, and meticulous attention to detail.
The company has been led by the Damiani family for three generations, from founder Enrico to his son Damiano, to the grandchildren Guido, Silvia, and Giorgio. Damiani is the only international jewelry group with a century-old history still fully managed by the founder’s heirs. It is the only Maison in the world to have received 18 Diamonds International Awards, the highest global recognition in high jewelry. Its creations have been chosen by international celebrities and iconic figures from film and culture. The brand is present through mono-brand boutiques in the world’s most prestigious luxury locations and through selected department stores and multi-brand retailers.
The Damiani Group promotes Italian excellence through a portfolio of complementary brands: Salvini, Bliss, and Calderoni in jewelry; Rocca, the only Italian chain selling luxury jewelry and watches; and Venini, the historic Murano artistic glass producer founded in 1921 and represented in major international museums.