Damiani Group to acquire Baume & Mercier from Richemont

Richemont sells Baume & Mercier to Italy’s Damiani Group, expanding its luxury portfolio. Closing expected Summer 2026

The landscape of value-driven luxury watchmaking is set for a significant shift as Richemont and the Damiani Group announce an agreement for the Italian family-run luxury house to acquire full ownership of Baume & Mercier. 

The transaction, expected to be finalised in the summer of 2026, marks a fresh chapter for the nearly 200-year-old Swiss Maison, renowned for its heritage of providing accessible entry points into the prestige watch segment.

The acquisition integrates Baume & Mercier into the Damiani Group’s diverse portfolio, which currently spans high jewellery houses such as Damiani, Salvini, Bliss, and Calderoni, alongside the Murano-based artistic glassmaker Venini and Italy’s premier multi-brand luxury retailer, Rocca. 

By adding a specialist watchmaker to its ranks, the Damiani Group significantly expands its footprint in hard luxury goods, complementing its Italian artisanal heritage and bolstering its influence within the global horological space.

For Baume & Mercier, the transition offers a strategic opportunity to leverage the Damiani Group’s extensive multi-brand distribution network while gradually expanding its mono-brand boutique footprint in key international markets. 

To ensure operational continuity and a seamless transition, Richemont will provide support for an interim period of at least 12 months as the Maison integrates into the Italian group’s structure.

While financial details remain confidential, both parties have emphasised that the Maison’s long-term potential will be best realised under the Damiani Group’s stewardship. The move capitalises on Damiani’s formidable presence in Italy and a distribution model that aligns perfectly with Baume & Mercier’s positioning in the accessible luxury market.

Founded in Valenza in 1924, the Damiani Group remains a family-managed enterprise, led by third-generation members Guido, Silvia, and Giorgio Damiani. The group’s reputation for artisanal excellence and meticulous attention to detail is poised to complement Baume & Mercier’s two centuries of Swiss watchmaking tradition.

The transaction is expected to close in the summer of 2026, subject to customary conditions. For further information, please visit baume-et-mercier.com, richemont.com and damianigroup.com