Luxury Richemont sells Baume & Mercier to Italian Damiani
The luxury goods group Richemont is selling the watch manufacturer Baume & Mercier to the Italian Damiani Group. Damiani is taking over the brand as part of a private transaction, the two parties announced on Thursday. Financial details were not disclosed.
22.01.2026, 15:16
SDA
With the acquisition, Damiani intends to expand its portfolio, which includes several jewelry brands as well as the glass manufacturer Venini and the multi-brand retailer Rocca. Baume & Mercier, with over 200 years of history, should benefit from the Group's strong presence in Italy and its distribution network.
Richemont will provide operational services for at least twelve months after closing to ensure an orderly transition. The transaction is expected to close in summer 2026 and is still subject to customary conditions.
Baume & Mercier does not publish its own publicly disclosed figures. According to industry estimates, the annual turnover is between 100 and 150 million dollars.
