Baume & Mercier Riviera
After 40 years in the watch and jewelry industry, I have witnessed brands rise, evolve, regroup—and sometimes simply wait for their next chapter. I have covered moments of inspired creativity and periods of quiet recalibration. But some news resonates more deeply than others. Today’s announcement that Richemont has agreed to sell Baume & Mercier to the Damiani Group is one of those moments that prompted reflection.
Richemont and the prestigious, family-owned Italian luxury group confirmed they have signed an agreement for Damiani to acquire full ownership of Baume & Mercier in a private transaction expected to close in summer 2026. The Maison will join Damiani’s growing hard-luxury portfolio, which includes the Damiani, Salvini, Bliss and Calderoni jewelry brands, Venini artistic glass from Murano, and Rocca, its watch and jewelry retail arm. Richemont will continue to provide operational services for at least 12 months to ensure a smooth transition. Financial terms were not disclosed.
Baume & Mercier Clifton
To understand the significance of this move, you have to look back.
When I entered the watch and jewelry business in 1984—and became America’s first woman watch editor in 1985—the industry was a very different place, particularly in the U.S. There were few large luxury groups, and today’s Swatch Group (then SMH) had yet to assemble its portfolio. Baume & Mercier was a Swiss-made, accessibly priced brand distributed in America by Ben Kaiser, a respected leader who understood how to build a business through independent jewelers as well as major retailers. The brand quickly earned a reputation for elegance, wearability, and value.
At that time, Baume & Mercier was affiliated with Piaget and still independent, until 1988 when Cartier acquired the two. At that time, also, Compagnie Financière Richemont was founded by Johann Rupert and a short time thereafter, all three brands came under this umbrella. Under Richemont, Baume & Mercier underwent a series of thoughtful transformations, leaning into lifestyle-driven storytelling. The Hamptons collection became a defining moment, and I vividly remember the brand recreating an entire Hamptons beach environment at Watches & Wonders Geneva—an inspired, immersive expression of relaxed luxury that stood apart.
Baume & Mercier Clifton Club Indian(R) Legend watches kick it up a notch. Circa 2018
In the 2010’s, under leaders such as Rudy Chavez in the U.S. (2006-2016) and Alain Zimmermann in Switzerland, Baume & Mercier explored new territory through partnerships with Shelby Cobra and motorcycle brands, successfully energizing its sports-watch identity.
Baume & Mercier Capeland Carroll Shelby Cobra in Stainless steel (C) R. NAAS (circa 2015)
In more recent years, though, the Maison became somewhat of a wall flower, with a quieter presence.
This new sale and acquisition news suggests intention on both sides. Richemont has demonstrated clarity in focusing on its core legacy maisons, while the Damiani Group has shown a genuine commitment to stewarding brands with authentic heritage. After all, its roots date back to 1830 with Louis Joseph Baume and became Baume & Mercier in 1918.
For Baume & Mercier, this could be less about departure and more about a thoughtful repositioning—one that may allow the brand’s enduring strengths to come back into sharper focus.
“Richemont and the Damiani Group believe that Baume & Mercier’s long-term potential will be best realized 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,” Richemont said in an announcement shared Thursday.
