12d • General discussion
Baume et Mercier finds new owner
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.
What Changes for the Collections?
Since 1830, Baume & Mercier has built a reputation for reliable, aesthetically pleasing timepieces. In recent years, the Riviera—a Gérald Genta-era sports watch revival—and the Clifton Baumatic have been the brand’s stars.
However, the transition raises a significant technical question: The Baumatic movement. Developed by Richemont’s shared manufacturing facility, ValFleurier, the Baumatic gave the brand a competitive edge with its five-day power reserve and magnetic resistance. Whether Damiani will continue to source movements from ValFleurier or seek a new partnership (perhaps with Swiss giants like Sellita or even Kenissi) remains a focal point for collectors.
Under Damiani’s stewardship, the industry expects a renewed focus on the "Italian lifestyle" aesthetic. We may see the brand lean further into its heritage of "affordable elegance," perhaps through more frequent collaborations or limited editions tailored for the Mediterranean market before expanding globally.
Key Pillars of the New StrategyDesired OutcomeIncreased VisibilityLeveraging the Rocca retail network to put watches on more wrists.Mono-brand ExpansionOpening "select" boutiques in key international fashion capitals.Heritage StorytellingRe-emphasizing the 196-year history to justify its "Specialist" status.
The Road Ahead
The transition will not happen overnight. To ensure stability, Richemont has agreed to provide operational support to Baume & Mercier for a 12-month transitional period following the closing of the deal. This "hand-holding" phase is crucial for maintaining supply chains and after-sales service networks while the brand is integrated into Damiani’s organizational structure.
As we look toward the 2026 edition of Watches and Wonders, all eyes will be on the Maison’s booth. Will we see a radical departure in design, or a doubling down on the classics?
For Baume & Mercier, this sale represents more than just a change in ownership; it is a chance to step out from the shadow of its "big brothers" at Richemont and become the protagonist of its own story. If Damiani can successfully blend Swiss technical precision with Italian commercial flair, the industry may finally see the "sleeping giant" of accessible luxury truly wake up.
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Baume et Mercier finds new owner
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