Italy’s The Damiani Group has concluded the acquisition of Swiss watchmaker Baume & Mercier from luxury retailer Richemont.
The transaction follows a January 2026 agreement for the Damiani Group to acquire 100% of Baume & Mercier in a private deal.
Richemont CEO Nicolas Bos said: “The Damiani Group is uniquely positioned to realise Baume & Mercier’s full potential, given the Maison’s strong footprint in Italy, its predominantly multi-brand distribution and its accessible luxury positioning.
“We are confident to have found in Damiani Group the right home for Baume & Mercier to thrive in years to come.”
Financial terms were not disclosed.
Baume & Mercier will become part of the Damiani Group’s portfolio alongside its jewellery brands Damiani, Salvini, Bliss and Calderoni, as well as Murano glassmaker Venini and Rocca, the group’s multi-brand watch and jewellery distributor.
The Damiani Group plans to develop Baume & Mercier’s existing Italian footprint through its own multi-brand distribution network.
It also plans to selectively open mono-brand boutiques in strategic international locations over time.
Richemont will continue to provide operational services for Baume & Mercier for an interim period of at least 12 months after the deal closure.
Damiani group executive president Guido Damiani added: “By establishing a more focused operating model and leveraging our extensive international distribution network, together with our deep expertise in the luxury sector, we are confident that we can unlock the Maison’s full potential while preserving and enhancing its exceptional heritage of watchmaking excellence.”
“Damiani Group completes Baume & Mercier acquisition ” was originally created and published by Retail Insight Network, a GlobalData owned brand.