The operation announced last January has reached its goal. Damiani Group has officially completed the acquisition of 100% of the historic Swiss fashion house Baume & Mercier, which until now belonged to the Richemont groupThe closing of the transaction, announced on July 1 by Geneva and Lugano, follows the fulfillment of the conditions set out in the agreement signed in early 2026.
The acquisition strengthens the Damiani Group
With this transaction, the Italian group expands its presence in the fine jewelry and watchmaking sectors, adding to its portfolio one of the historic Swiss watchmaking brands, which boasts nearly two centuries of activity.
Baume & Mercier thus joins the other brands of the group: Damiani, Salvini, Bliss e Calderoni in the jewelry sector, Venini in the artistic glass of Murano and Rocca, a network specialized in the distribution of high-end watches and jewelry.
The stated goal is to further enhance the brand through an international growth strategy, leveraging both Baume & Mercier's consolidated presence on the Italian market and the distribution network already developed by the Damiani Group.
The strategy for brand development
The group's plans include strengthening the maison's international visibility, accompanied by an expansion of distribution.
The intention is to leverage the existing multi-brand network and, at the same time, selectively develop new single-brand boutiques in strategic global areas. This move aims to increase the brand's presence without sacrificing the characteristics that have distinguished its success over the past decades.
During the integration phase, Richemont will continue to provide some operational services for a transitional period, to accompany the transition of activities within the Damiani Group organization.
Richemont's statements
For Nicolas Bos, Chief Executive Officer of Richemont, the move represents the natural progression for a fashion house that has long collaborated with the Italian group.
According to Bos, Damiani is a historic partner of both Baume & Mercier and the entire Richemont group, having already managed several external boutiques and distributed several of the company's brands through Rocca stores.
The executive emphasized that the Damiani Group has the necessary characteristics to support the brand's future growth, thanks to its strong presence in the Italian market, its consolidated experience in multi-brand distribution, and Baume & Mercier's positioning in the accessible luxury segment. For Richemont, therefore, the group represents the ideal environment to support the fashion house in the coming years.
Damiani: "An important step in our growth."
The Guido Damiani, Executive President of the Damiani Group, underlined the strategic value of the acquisition.
According to the Executive Chairman, the entry of Baume & Mercier represents a significant moment in the group's development and strengthens its presence in high-quality watchmaking.
Damiani explained that the new organization will allow for an even more focused operating model, while leveraging its international distribution network and experience in the luxury sector. The stated goal is to fully develop the maison's potential while preserving its tradition and watchmaking heritage built over nearly two centuries.
In his speech, Guido Damiani also thanked Richemont for its trust in the group, expressing his desire to usher in a new phase of growth for Baume & Mercier.
A group with Italian roots and international ambitions
Founded in Valenza in 1924, the Damiani Group is one of the most renowned Italian high-end jewelry companies. Today, the company is still run by the family of founder Enrico Damiani: after Damiano Damiani, management has passed to the third generation, with Guido, Silvia, and Giorgio Damiani.
The group emphasizes that it is the only international jewelry house with a century-old history still entirely managed by the heirs of the founding family. Over the years, Damiani has obtained eighteen Diamonds International Awards, an international recognition dedicated to jewelry, and has progressively expanded its portfolio with complementary brands in the jewelry, watchmaking and artistic glass sectors.
Richemont continues to focus on its fashion houses
The sale of Baume & Mercier does not change the core structure of the Richemont group, which continues to operate through three major business areas.
The jewelry sector includes brands such as Buccellati, CARTIER, Van Cleef & Arpels e Vernier. In the specialist watchmaking sector there are A. Lange & Söhne, IWC Schaffhausen, Jaeger-LeCoultre, PANERAI, Piaget, Roger Dubuis e Vacheron ConstantinThe group is also present in the fashion and accessories sector with fashion houses such as Alaïa, Chloé, Delvaux, dunhill, Gianvito Rossi, Montblanc. , Peter Miller, Purdy, Serapian, in addition to the activities of TimeVallée e Watchfinder & Co.
