Richemont completed the sale of Baume & Mercier to Italy's Damiani Group on July 1, ending 38 years and sharpening its focus on Cartier and Van Cleef.
SOUTH AFRICA · LUXURY
Key Facts
—Deal closed: Richemont completed the sale of 100 percent of Baume & Mercier to Italy’s Damiani Group on July 1, 2026; the agreement was signed on January 22.
—End of an era: The Geneva maison, founded in 1830, had been in the group since 1988 — 38 years under the Rupert family’s roof.
—Why it went: Baume & Mercier anchored the entry level of luxury watches: strong volumes, thinner margins than Cartier or Van Cleef & Arpels.
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