Damiani Group completes Baume & Mercier acquisition

Shubhendu Vimal

Thu, July 2, 2026 astatine 8:59 AM CDT 1 min read

Italy's The Damiani Group has concluded the acquisition of Swiss watchmaker Baume & Mercier from luxury retailer Richemont.

The transaction follows a January 2026 statement for the Damiani Group to get 100% of Baume & Mercier successful a backstage deal.

Richemont CEO Nicolas Bos said: "The Damiani Group is uniquely positioned to realise Baume & Mercier's afloat potential, fixed the Maison's beardown footprint successful Italy, its predominantly multi-brand organisation and its accessible luxury positioning.

"We are assured to person recovered successful Damiani Group the close location for Baume & Mercier to thrive successful years to come."

Financial presumption were not disclosed.

Baume & Mercier volition go portion of the Damiani Group's portfolio alongside its jewellery brands Damiani, Salvini, Bliss and Calderoni, arsenic good arsenic Murano glassmaker Venini and Rocca, the group's multi-brand ticker and jewellery distributor.

The Damiani Group plans to make Baume & Mercier's existing Italian footprint done its ain multi-brand organisation network.

It besides plans to selectively unfastened mono-brand boutiques successful strategical planetary locations implicit time.

Richemont volition proceed to supply operational services for Baume & Mercier for an interim play of astatine slightest 12 months aft the woody closure.

Damiani radical enforcement president Guido Damiani added: "By establishing a much focused operating exemplary and leveraging our extended planetary organisation network, unneurotic with our heavy expertise successful the luxury sector, we are assured that we tin unlock the Maison's afloat imaginable portion preserving and enhancing its exceptional practice of watchmaking excellence."

"Damiani Group completes Baume & Mercier acquisition " was primitively created and published by Retail Insight Network, a GlobalData owned brand.