On July 1, the Italian Damiani Group officially announced its acquisition of the Baume & Mercier brand, previously owned by the Richemont Group. This acquisition is expected to strengthen the group’s position against the giants of the watch and jewelry industry.
An announcement that sets the record straight. For Damiani, this acquisition goes far beyond a simple brand purchase. Historically specializing in jewelry, the Italian group is acquiring an internationally recognized Swiss watch manufacturer and expanding its reach into the strategic “hard luxury” segment, dominated by major players such as Richemont, LVMH, and the Swatch Group. It is in this context that the Damiani Group intends to reaffirm its market position.
A long-standing acquisition
Officially announced on July 1, this planned sale is not a recent development: first mentioned in early 2026, it was announced that Richemont would sell 100% of its stake in the Baume & Mercier brand to the Damiani Group during the summer of that same year.
After several months of regulatory procedures—the financial terms of which were not disclosed—the transaction was finalized on July 1. Thus, this transaction represents a significant opportunity for Damiani to strengthen its position on the international stage in the face of fierce competition.
Damiani: from jewelry to watchmaking
This acquisition marks a major step in diversification for Damiani, which specializes in jewelry through brands such as Damiani, Salvini, Bliss, and Calderoni.
By integrating Baume & Mercier, the Italian group is entering the Swiss watch manufacturing sector, a strategic segment of the luxury market. This move allows it to expand its offerings in “hard luxury”—highly sought-after items by a wealthy clientele, encompassing watches and jewelry—and to offer a more integrated approach to its international clientele.
Alone against the giants
Thanks to this new acquisition, Damiani now boasts a diverse array of prestigious brands in its portfolio. Faced with industry giants such as Richemont, LVMH, and the Swatch Group, the group previously suffered from a less diversified portfolio and was therefore unable to compete.
By drawing on the watchmaking heritage of Baume & Mercier, founded in 1830, as well as the commercial synergies offered by its own distribution network—notably the Rocca boutiques—the Italian group hopes to expand its presence in international markets while gaining credibility in the world of high-end watchmaking.
With this acquisition, Damiani is not merely adding a new brand to its portfolio: above all, the group is equipping itself with a genuine strategic lever to scale up and assert its ambitions in the face of the major luxury conglomerates.
Read also > Richemont weathering the luxury slowdown thanks to jewelry
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