We wrote an article many years back, suggesting that Richemont had too many overlapping brands, and understandably, it did not sit well at the group.

We eventually deleted the article, but the essence of what was said, stand true till this day, and as of summer 2026, Baume & Mercier, will be under the ownership of the Italian-based, Damiani Group. This sale should instantly strengthen Richemont’s balance sheet.

While, there’s no guarantee Baume & Mercier will become a more formidable brand as an separate entity under the Damiani Group. In an industry where far too many brands exist, the full historic value of Baume & Mercier, a brand formed in 1920, with roots dating back to 1830, has a better chance of being realized.

The same could be true if the Swatch Group were to unload a watch brand or two, from its crowded lineup, where brands overlap and cannibalize on each other, thus freeing up cash to boost the strongest brands in the group.

In a similar move to Richemont, in 2025, Rolex, which currently sells only two watch brands, Rolex and Tudor, completely shuttered Carl F. Bucherer, which is a different divestment strategy, with a similar result: it ensures the company’s very best brands are always the focus.

Below is a direct press release:

Richemont and the Damiani Group sign agreement for the Damiani Group to acquire Baume & Mercier

Richemont and the Damiani Group, a prestigious, family-run Italian global luxury group, today announce that they have signed an agreement for the Damiani Group to acquire full ownership of specialist watchmaker Baume & Mercier from Richemont in a private transaction.

With this acquisition, the Damiani Group will expand its hard luxury goods portfolio, which already comprises the Damiani, Salvini, Bliss and Calderoni jewellery brands, as well as Venini, Italy’s prestigious artistic glassmaker based in Murano, alongside its luxury multi-brand watch and jewellery distributor Rocca, with a renowned specialist watchmaker whose legacy spans 200 years. Richemont and the Damiani Group believe that Baume & Mercier’s long-term potential will be best realized as part of the Damiani Group, given the Maison’s strong footprint in Italy, its predominantly multi-brand wholesale distribution model and its accessible positioning in the luxury watch segment.

As part of its strategy to ensure Baume & Mercier’s long-term success, the Damiani Group intends to enhance the Maison’s visibility and reach by leveraging its own extensive multi-brand distribution network and opening select mono-brand boutiques in strategic locations over time.

To ensure a smooth transition whilst the Damiani Group prepares for Baume & Mercier’s integration within its own operations, Richemont will provide operational services for the Maison for an interim period of at least 12 months after closing.

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

The financial terms of the transaction are not disclosed.

See the official release by Richemont.

 

Photo by Baume & Mercier.