This move will further broaden the Damiani Group’s portfolio of high‑end luxury brands, which already includes Damiani, Salvini, Bliss and Calderoni jewellery, as well as Venini, the celebrated Murano glassmaker, and the Rocca retail network. By adding a renowned watchmaking house with two centuries of heritage, the Group strengthens its position in the hard‑luxury sector. Both Richemont and Damiani believe that Baume & Mercier’s long‑term growth will be best supported under Damiani’s leadership, thanks to the Maison’s strong presence in Italy, its predominantly multi‑brand wholesale model and its accessible positioning within the luxury watch market.

To secure Baume & Mercier’s future development, the Damiani Group plans to boost the brand’s visibility by utilising its extensive distribution channels and gradually opening selected mono‑brand boutiques in key locations. During the transition period, Richemont will continue to provide operational support for at least 12 months following the completion of the deal.

The transaction is expected to close in the summer of 2026, subject to customary conditions, and financial details remain still unknown.

Richemont’s portfolio comprises distinguished Maisons celebrated for their craftsmanship and creativity. The Group’s mission is to support its brands so they can grow responsibly and sustainably over the long term. Its activities span three main divisions: Jewellery Maisons (Buccellati, Cartier, Van Cleef & Arpels, Vhernier), Specialist Watchmakers (A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger‑LeCoultre, Panerai, Piaget, Roger Dubuis, Vacheron Constantin) and a diverse Fashion & Accessories segment including Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian, TimeVallée and Watchfinder & Co.

Founded in Valenza in 1924, Damiani is a globally recognised Italian jewellery Maison celebrated for its artisanal excellence and emblematic Made in Italy craftsmanship. Every Damiani piece is a one‑of‑a‑kind creation, crafted by master goldsmiths and defined by distinctive design, exceptional gemstones and meticulous workmanship. Now led by the third generation—Guido, Silvia and Giorgio—the company remains the only international jewellery group with a century‑long history still managed entirely by the founder’s descendants. Damiani is also the only jewellery Maison to have earned 18 Diamonds International Awards, the industry’s highest honour. Its creations are favoured by prominent cultural and cinematic figures worldwide. The brand is present in prestigious luxury destinations through its own boutiques, as well as select department stores and multi‑brand retailers. The Damiani Group champions Italian excellence through its complementary brands, including Salvini, Bliss and Calderoni, the Rocca luxury retail chain, and Venini, the historic Murano glassmaker represented in major museums around the world.