Damiani Group Announces Completion of Baume & Mercier Acquisition

Richemont and Damiani Group announce that the acquisition agreement, initially announced on January 22, 2026, whereby Damiani Group would acquire 100% of the shares of the luxury watch brand Baume & Mercier through a private transaction, has been formally completed as of July 1, 2026, with all predetermined conditions fulfilled.

This acquisition marks the integration of a prestigious watch maison with nearly 200 years of history into the Damiani Group, significantly expanding its portfolio in the hard luxury sector. Baume & Mercier will join the Damiani Group's brand portfolio alongside jewelry brands Damiani, Salvini, Bliss, and Calderoni, the historic art glass manufacturer Venini from Murano Island, and Rocca, the group's multi-brand retail company specializing in luxury watches and jewelry.

As part of its strategy to maximize Baume & Mercier's long-term growth potential, Damiani Group will further strengthen the brand's global recognition and market presence. Leveraging Baume & Mercier's solid foundation in the Italian market, the group will utilize its extensive multi-brand distribution network and will also gradually develop mono-brand boutiques in strategic overseas markets.

Richemont will continue to provide operational support to Baume & Mercier for a transitional period until the business integration with Damiani Group is fully prepared.

Nicolas Bos, CEO of Richemont, commented:

"Damiani Group has been a valued and important partner for Baume & Mercier and for Richemont as a whole for many years. The group has managed the operation of some of our brand boutiques and has sold watches from several Richemont Maisons through its Rocca stores. Considering their strong presence in the Italian market, their multi-brand distribution approach, and their positioning in accessible luxury, we are confident that Damiani Group is the ideal partner to unlock Baume & Mercier's full potential. We believe the best environment has been created for the maison's future development."

Guido Damiani, Chairman of Damiani Group, commented:

"We are filled with great joy and anticipation to welcome Baume & Mercier into the Damiani Group's brand portfolio. This acquisition represents a significant milestone that further strengthens our presence in the luxury watch sector and drives our long-term growth strategy. By establishing a more efficient and focused operational structure, and by leveraging our extensive international distribution network and rich experience in the luxury industry, we are confident that we can enhance the value of Baume & Mercier's exceptional watchmaking heritage while preserving its traditions. We also extend our sincere gratitude to Richemont for their trust and for entrusting us with this important opportunity. We look forward to building a new chapter together with Baume & Mercier."

Financial terms of this transaction have not been disclosed.

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