Editor’s Note
This article reports on the signing of an agreement for the Damiani Group to acquire watchmaker Baume & Mercier from Richemont.
Richemont and the Damiani Group have announced the signing of an agreement under which the Damiani Group will acquire the entire ownership of the specialist watchmaker Baume & Mercier from Richemont through a private transaction. The Damiani Group is a prestigious Italian family-owned business operating in the global luxury sector.
With this acquisition, the Damiani Group will expand its portfolio of durable luxury goods, which already includes jewelry brands such as Damiani, Salvini, Bliss, and Calderoni, the historic Italian art glass manufacturer Venini based in Murano, and the multi-brand luxury watch and jewelry retailer Rocca.
The acquisition of the well-known watch brand with nearly 200 years of history will help the Damiani Group further consolidate its position in the sector.
Richemont and the Damiani Group believe that Baume & Mercier’s long-term potential will be best realized within the Damiani Group, given its solid positioning in Italy, its predominantly multi-brand distribution model, and its market positioning in the luxury watch segment. To ensure the brand’s continued success, the Damiani Group plans to gradually enhance its visibility and influence by leveraging its multi-brand distribution network and opening selected mono-brand boutiques in strategic locations. To ensure a smooth integration of Baume & Mercier into the Damiani Group’s operational system, Richemont will provide operational services for the brand for a transition period of at least 12 months following the completion of the transaction. The transaction is expected to be completed in the summer of 2026, subject to several conditions precedent.
The financial terms of the transaction were not disclosed.