Richemont Hands Over Baume & Mercier to Damiani Group: A New Chapter for Accessible Luxury Watches

In a strategic move poised to reshape the accessible segment of the luxury watches market, Richemont has signed a private agreement to transfer full ownership of Swiss watchmaker Baume & Mercier to the Italian luxury powerhouse Damiani Group.

The acquisition, announced on January 22, 2026, signifies more than a business transaction—it marks a repositioning of a historic watchmaker within a family-run group known for nurturing artisanal heritage with a modern commercial approach.

Strengthening the Foundations of Affordable Prestige

Baume & Mercier, founded in 1830, has long occupied a distinctive niche—bridging fine Swiss horology with a more approachable price point. For Damiani Group, whose luxury empire includes brands such as Salvini, Bliss, Calderoni, and Venini, this acquisition diversifies its already impressive portfolio of hard luxury assets. By adding Baume & Mercier to its stable, Damiani gains a 200-year-old maison rich in heritage, design fluency, and global recognition—traits that resonate with discerning watch enthusiasts across generations.

While Richemont remains focused on high horology maisons such as A. Lange & Söhne, Vacheron Constantin, and Jaeger-LeCoultre, this divestiture allows Baume & Mercier to be championed by a group more directly aligned with accessible luxury and retail distribution scale.

Distribution, Visibility, and the Art of Italian Expansion

The Damiani Group has made clear its intent to revitalize the Baume & Mercier brand with expanded visibility, leveraging its proprietary multi-brand retailer Rocca, and introducing standalone boutiques in strategic luxury shopping locations. This horizontal integration into Damiani’s distribution infrastructure is expected to boost reach and relevance across Europe and key international markets.

For the 1%—Ultra High Net Worth Individuals who are both collectors and tastemakers—this move may signal broader ripples across the luxury watches landscape. As brands reposition themselves amidst changing generational preferences and global shifts, acquisitions like this one reflect a growing trend toward portfolio optimization and cross-sector synergies between jewelry and watchmaking giants.

The Broader Landscape: Demand Continues to Surge

According to recent industry data, global demand for luxury watches remains strong, particularly among UHNWIs. The 2025 Bain & Altagamma report noted that despite a cooling in overall luxury market growth, the personal luxury watch segment experienced a 4% increase in value, driven by demand from younger affluent buyers and continued scarcity in top-tier timepieces.

Furthermore, Wealth-X estimates that there are now over 430,000 Ultra High Net Worth Individuals globally, with a combined wealth of over $50 trillion. This audience continues to see luxury watches not merely as instruments of timekeeping, but as cultural capital—symbols of legacy, taste, and private identity.

Baume & Mercier, long a gateway for new entrants into Swiss watchmaking, now finds itself at a pivotal inflection point—poised to become the elevated yet accessible option for the next generation of global collectors, under the guidance of a group known for emotional storytelling and Italian elegance.

A Watchmaker’s Future, Reimagined

As Richemont exits and Damiani steps in, the integration is expected to unfold gradually, with Richemont providing operational support for at least 12 months following the transaction’s expected close in summer 2026.

While financial terms remain confidential, the symbolism of the move is clear: in a market increasingly influenced by vertical integration, private equity consolidation, and direct-to-consumer evolution, family-run maisons like Damiani are doubling down on control, creativity, and curation.

For the watch collectors of the One Percent, this acquisition is worth watching. Because in the world of luxury watches, legacy is just the beginning—reinvention is the story that follows.