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 Damiani Group, a prestigious Italian family-owned group operating globally in the luxury sector, announce that they have signed an agreement for Damiani Group to acquire full ownership of the specialized watch brand Baume & Mercier from Richemont through a private transaction.
With this acquisition, 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, a historic Italian artistic glass manufacturer based in Murano, and Rocca, a multi-brand retailer of luxury watches and jewelry.
The acquisition of Baume & Mercier, a recognized watch brand with a 200-year tradition, will allow Damiani Group to further strengthen its presence in the sector.
Richemont and Damiani Group believe that the long-term potential of Baume & Mercier will be best realized within Damiani Group, thanks to the brand’s established presence in Italy, its primarily multi-brand distribution model, and its strategic position in the luxury watch segment. As part of its strategy to ensure the lasting success of Baume & Mercier, Damiani Group intends to increase the brand’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 Damiani Group’s operations, Richemont will provide operational services for the brand during a transition period of at least 12 months after closing. The closing of the transaction is expected in the summer of 2026 and is subject to the fulfillment of certain conditions precedent.
The financial terms of the agreement were not disclosed.