Damiani Group to Acquire Swiss Watchmaker Baume & Mercier from Richemont

Luxury Shift: Damiani Acquires Baume & Mercier

In a significant move within the luxury goods sector, the Damiani Group, an Italian family-run jewelry business, has signed an agreement to acquire the Swiss watch brand Baume & Mercier from the luxury conglomerate Richemont. The announcement was made on Thursday, January 22, 2026, with the transaction anticipated to conclude in the summer of 2026, pending certain conditions. Financial details of the acquisition have not been disclosed.

Strategic Rationale Behind the Acquisition

Both Richemont and Damiani Group have expressed that the long-term potential of Baume & Mercier will be best realized under the ownership of the Italian group. This strategic decision is attributed to Damiani's robust presence in Italy, its established multi-brand wholesale distribution model, and its accessible positioning within the luxury watch segment.

Jérôme Favier, CEO of Damiani, stated that the acquisition will allow the Damiani Group to 'expand its offer in the watch segment and attract a new customer base.' He added that 'Baume & Mercier will be able to count not only on our solid position in wholesale, but also on our strong expertise in the watch market.'

Future Plans for Baume & Mercier

The Damiani Group intends to significantly enhance Baume & Mercier's visibility and global reach. This will be achieved by leveraging Damiani's extensive multi-brand distribution network and by progressively opening select mono-brand boutiques in strategic locations worldwide.

To ensure a seamless transition, Richemont will continue to provide operational services for Baume & Mercier for an interim period of at least 12 months following the closing of the deal.

Profiles of the Luxury Groups

The Damiani Group, founded in 1924 in Valenza, Italy, is a privately held, family-run business known for its Italian craftsmanship in jewelry. Its portfolio includes brands such as Damiani, Salvini, Bliss, and Calderoni, as well as the artistic glassmaker Venini and the luxury multi-brand watch and jewelry distributor Rocca.

Richemont, a Swiss luxury goods holding company established in 1988 by Johann Rupert, is a major player in the global luxury market. Its extensive portfolio encompasses prestigious jewelry and watch Maisons, including Cartier, Van Cleef & Arpels, Piaget, and Vacheron Constantin. Baume & Mercier, a Swiss luxury watchmaker with origins dating back to 1830, was acquired by Cartier in 1988 and subsequently became part of the Richemont Group five years later.