Geneva and Lugano, Switzerland – 22 January, 2026 – Richemont and the Damiani Group, a prestigious, family-run Italian global luxury group, today announce that they have signed an agreement for the Damiani Group to acquire full ownership of specialist watchmaker Baume & Mercier from Richemont in a private transaction.

With this acquisition, the Damiani Group will expand its hard luxury goods portfolio, which already comprises the Damiani, Salvini, Bliss and Calderoni jewellery brands, as well as Venini, Italy’s prestigious artistic glassmaker based in Murano, alongside its luxury multi-brand watch and jewellery distributor Rocca, with a renowned specialist watchmaker whose legacy spans 200 years. Richemont and the Damiani Group believe that Baume & Mercier’s long-term potential will be best realised as part of the Damiani Group, given the Maison’s strong footprint in Italy, its predominantly multi-brand wholesale distribution model and its accessible positioning in the luxury watch segment.

As part of its strategy to ensure Baume & Mercier’s long-term success, the Damiani Group intends to enhance the Maison’s visibility and reach by leveraging its own extensive multi-brand distribution network and opening select mono-brand boutiques in strategic locations over time. 

To ensure a smooth transition whilst the Damiani Group prepares for Baume & Mercier’s integration within its own operations, Richemont will provide operational services for the Maison for an interim period of at least 12 months after closing.

Closing is expected in the summer of 2026 and remains subject to certain condition precedents.

The financial terms of the transaction are not disclosed.

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term. 

Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as TimeVallée and Watchfinder & Co. 

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange, Richemont’s secondary listing.

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