Baume & Mercier departs Richemont for Damiani Group

Richemont and the Damiani Group have announced an agreement for the Damiani Group to acquire Baume & Mercier.

The private transaction will see the family-run Italian global luxury group take full ownership of the specialist watchmaker from Richemont, who acquired Baume & Mercier themselves back in 1988.

Both groups have reached the conclusion that Baume & Mercier’s long-term potential will be best realised as part of Damiani due to the Maison’s strong footprint in Italy and multi-brand wholesale distribution model.

The Damiani Group’s portfolio already includes the Damiani, Salvini, Bliss, and Calderoni jewellery brands as well as artistic glassmaker, Venini, and luxury multi-brand watch and jewellery distributor, Rocca.

Damini says it intends to enhance Baume & Mercier’s visibility and reach by leveraging its own network and opening select mono-brand boutiques in various locations over time.

From Richemont’s perspective, it will be seen as an opportunity to focus more attention and firepower on the likes of Cartier, which they know will give them a better return.

Richemont will be continuing to provide operation services for Baume & Mercier for an interim period of at least 12 months as the Damiani Group prepares for its integration.

How this will affect the agreement that the brand has in place with AFH Distribution in the UK during that period is not known. AFH has been asked for comment.

Closing is expected in the summer of 2026 and remains subject to certain conditions.