Editor’s Note
This article reports on the planned acquisition of Swiss watchmaker Baume & Mercier by Italy’s Damiani Group from Richemont. The deal, announced on May 22, is slated for completion in mid-2026.
Swiss luxury group Richemont is selling Baume & Mercier, a Swiss watch brand with a 200-year tradition.
On the 22nd (local time), Richemont announced that it has signed an agreement to transfer ownership to the Damiani Group, an Italian family-run luxury enterprise. The financial terms were not disclosed. The transaction is expected to be completed around the summer of 2026, subject to customary closing conditions.
Baume & Mercier is a watch manufacturer founded in Geneva, Switzerland in 1830 and has been responsible for the entry and mid-level luxury watch market under Richemont. The Damiani Group already operates jewelry brands such as Damiani, Salvini, Bliss, and Calderoni, the Venini glass art brand, and a number of multi-brand watch and jewelry distribution networks.
This sale is seen as part of Richemont’s strategy to streamline its main portfolio and focus on its core luxury and high-end brands. Richemont owns jewelry brands such as Cartier and Van Cleef & Arpels and watch manufacturers such as Piaget and Vacheron Constantin, having acquired Baume & Mercier in 1988.
Richemont plans to provide operational support services to Baume & Mercier for at least 12 months after the transaction is completed to ensure smooth market operations.