Editor’s Note
This article reports on the planned acquisition of watchmaker Baume & Mercier by the Damiani Group from Richemont, a significant shift in the luxury brand landscape. The deal, pending standard conditions, is slated for completion in 2026.
Richemont and the Italian luxury group Damiani Group have signed an agreement for Damiani Group to acquire 100% of the watchmaking brand Baume & Mercier from Richemont through a private transaction. The transaction is subject to certain conditions and is expected to be completed in the summer of 2026. Financial terms were not disclosed.
According to a joint statement, the acquisition will allow Damiani Group to further expand its hard luxury business. The group currently owns jewelry brands such as Damiani, Salvini, Bliss, and Calderoni, the Italian art glass brand Venini based in Murano, and operates the Italian high-end multi-brand watch and jewelry retailer Rocca. Through this deal, Damiani Group will add the nearly 200-year-old professional watchmaking brand Baume & Mercier to its portfolio.
Both Richemont and Damiani Group stated that, from a long-term development perspective, Baume & Mercier will be better positioned to realize its potential under Damiani Group’s ownership.
The statement noted that Baume & Mercier has a strong foundation in the Italian market. Its distribution model, primarily through multi-brand wholesale channels, and its relatively accessible positioning in the luxury watch segment align well with Damiani Group’s existing business structure.
As part of the strategy to drive Baume & Mercier’s long-term development, Damiani Group plans to leverage its extensive multi-brand distribution network to enhance the watch brand’s market visibility and reach. The group also plans to gradually open selected mono-brand boutiques in strategic markets in the future to further strengthen the brand image.
To ensure a smooth transition post-transaction, Richemont will continue to provide operational support services for the brand for at least 12 months after the deal closes, while Damiani Group prepares for the integration of Baume & Mercier’s business.
Richemont stated that its goal is to nurture its brands and businesses in a responsible and sustainable manner, supporting their long-term development. Richemont’s current business encompasses three main sectors: the Jewelry Maisons, represented by Buccellati, Cartier, Van Cleef & Arpels, and Vhernier; the Specialist Watchmakers, including A. Lange & Söhne, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, and Vacheron Constantin; and Other, which includes Fashion & Accessories and related businesses.
Damiani Group stated that the acquisition aligns with its strategic direction of promoting Italian excellence in craftsmanship and long-term brand development. Founded in 1924 and headquartered in Valenza, Italy, Damiani is an international jewelry group managed by the founding family across three generations. It is the only century-old international jewelry group still fully managed by the founder’s descendants.
