Richemont Completes Baume & Mercier Sale as Damiani Group Expands Its Luxury Watch Portfolio
The world of fine watchmaking and haute joaillerie moves with quiet purpose, guided by those who understand that true luxury endures. In one such moment of graceful transition, Richemont has officially completed the sale of Baume & Mercier to the Damiani Group.
The transaction marks a defining milestone for both houses, uniting nearly two centuries of Swiss watchmaking heritage with one of Italy’s most revered luxury jewelry groups.
For the one percent, this acquisition reflects a broader current within the luxury world, where heritage maisons, exceptional craftsmanship, and integrated luxury ecosystems continue to shape lasting value across generations.
According to the latest Wealth-X and Knight Frank research, there are now more than 426,000 Ultra High Net Worth Individuals worldwide, together holding trillions of dollars in private wealth. Fine jewelry and prestigious watchmaking remain among their most cherished pursuits, sought by collectors who prize timeless craftsmanship, heritage, and enduring legacy.
A New Chapter for Baume & Mercier
Founded in 1830, Baume & Mercier has earned global recognition for creating refined Swiss timepieces that marry technical mastery with elegant design. Under its new stewardship, the Maison enters a fresh chapter devoted to international growth, while preserving the values that have shaped its identity for almost 200 years.
The Damiani Group intends to strengthen Baume & Mercier’s international presence, expanding distribution through its established retail network and introducing carefully chosen mono-brand boutiques in the world’s most coveted luxury destinations.
Throughout this transition, Richemont will continue to offer operational support, ensuring a seamless integration into the Damiani Group.
Strengthening an Italian Luxury Powerhouse
The acquisition further elevates the Damiani Group’s standing across the luxury sector.
Its portfolio now brings together prestigious jewelry maisons, including Damiani, Salvini, Bliss, and Calderoni, alongside Venini, the celebrated Murano artistic glassmaker, and Rocca, one of Italy’s foremost luxury watch and jewelry retailers. To this distinguished universe, Baume & Mercier now adds Swiss horological excellence.
This diverse ecosystem reflects a growing appreciation for offering collectors a complete luxury experience, one that spans jewelry, watches, craftsmanship, and artistic heritage.
Luxury Jewelry and Watchmaking Continue to Attract Global Wealth
The continued expansion of luxury groups speaks to a sustained confidence in high-value craftsmanship.
Industry research from Bain & Company anticipates long-term growth across the global personal luxury goods sector, with fine jewelry remaining among its strongest performing categories. Both jewelry and Swiss watchmaking continue to resonate with discerning collectors who treasure authenticity, rarity, and exceptional savoir-faire.
For Ultra High Net Worth Individuals, these maisons represent far more than acquisitions. They embody family heritage, personal milestones, and collections designed to be admired across generations.
Heritage Drives Long Term Value
The integration of Baume & Mercier into the Damiani Group reveals how heritage brands continue to create enduring value within the global luxury world.
As leading houses invest in craftsmanship, retail expansion, and the art of brand storytelling, collectors gain access to ever more refined experiences, built upon a foundation of excellence and authenticity.
For the one percent, the future of luxury jewelry belongs to maisons that unite centuries of expertise with a long-term vision for growth. The union of the Damiani Group and Baume & Mercier writes another chapter in that enduring pursuit of craftsmanship, innovation, and timeless luxury.
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