The luxury horological landscape witnessed a seismic shift in early 2026 as the Swiss conglomerate Richemont announced the sale of its historic Maison, Baume & Mercier, to the Italy-based, family-owned Damiani Group. This transaction, expected to finalize in the summer of 2026, marks the end of a nearly 40-year tenure under the Richemont umbrella and signals a bold new direction for one of Switzerland’s oldest continuously operating watchmakers. A Strategic Uncoupling For years, Baume & Mercier occupied a challenging position within Richemont’s "Specialist Watchmakers" division. While the group dominates the high-end "Hard Luxury" sector with titans like Vacheron Constantin, Jaeger-LeCoultre, and Cartier, Baume & Mercier struggled to find its footing in the "accessible luxury" segment—a price bracket increasingly polarized between entry-level enthusiasts and collectors moving upmarket. Industry analysts suggest that Richemont’s decision to divest is part of a broader "rationalization" strategy. By offloading a brand that relies heavily on wholesale distribution and lower price points, Richemont can refocus its immense resources on its "high-jewelry" and "haute horlogerie" maisons, where margins are thicker and brand equity is more insulated from economic volatility. The Damiani Advantage: A Natural Fit? If Richemont was a vast, corporate sea where Baume & Mercier felt adrift, the Damiani Group offers a more specialized harbor. Founded in Valenza in 1924, the Damiani Group is a powerhouse in the Italian luxury market, owning high-end jewelry brands like Salvini, Bliss, and Calderoni, as well as the Murano glassmaker Venini. Critically, Damiani also owns Rocca, Italy’s premier luxury watch and jewelry retail chain. This vertical integration is likely the "secret sauce" behind the acquisition. - Distribution Power: Through the Rocca network, Damiani already possesses an established, high-traffic retail infrastructure that understands the Italian consumer—Baume & Mercier’s strongest demographic. - Wholesale Expertise: Unlike Richemont’s recent pivot toward mono-brand boutiques and direct-to-consumer sales, Damiani excels in the multi-brand wholesale model that has historically been Baume & Mercier’s lifeblood. - Family Governance: As a family-run enterprise led by the third-generation siblings Guido, Silvia, and Giorgio Damiani, the group may offer the brand a level of creative agility and long-term patience that is difficult to sustain in a publicly traded conglomerate.

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