Damiani Group Acquires Watch Brand Baume & Mercier
The Damiani Group officially acquired the historic watchmaker Baume & Mercier from Richemont in July 2026.
Updated on Oct. 28, 2026 in Jewelry
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In July 2026, the Italian Damiani Group finalized its acquisition of the watch brand Baume & Mercier from Richemont. The purchase was initiated by Damiani to leverage the brand's long-standing industry expertise.
Why it matters
This move signals a strategic shift for the Valenza-based Damiani Group as it seeks to deepen its footprint within the competitive watchmaking sector. By integrating Italian creative influences into the brand, the company aims to revitalize the historic watchmaker.
Founded in 1830, the brand maintains a market entry point with watches starting at $990. The company formally adopted the name Baume & Mercier in 1920.
The players
Damiani Group
Headquartered in Valenza, Italy, this entity is a prominent name in the luxury jewelry and watch market.
Baume & Mercier
This historic watchmaking brand originated in the Swiss Jura region and has been producing timepieces since the 19th century.
Richemont
Compagnie Financière Richemont is a major Swiss luxury goods holding company that manages various high-end brands.
Michael Guenoun
He serves as the chief executive of Baume & Mercier, a role he has held since June 2024.
The details
Damiani Group approached Richemont to secure the brand, which had been under the Richemont portfolio since a 1988 acquisition by Cartier. Under new ownership, the company plans to focus heavily on the brand while introducing Italian design elements to its future collections.
Timeline
Louis Joseph Baume opened the original watchmaking shop in 1830.
The company adopted the name Baume & Mercier in 1920.
Cartier and Richemont acquired the brand in 1988.
Michael Guenoun took over as chief executive in June 2024.
The Damiani Group finalized its acquisition in July 2026.
Culture Shift
The acquisition follows the 1988 acquisition of Baume & Mercier by Cartier, marking a significant transition for the legacy watchmaker. This move shifts the brand away from its decades-long residency within the Richemont portfolio toward an Italian-led design philosophy.
Consumers can continue to purchase timepieces starting at $990 as the brand transitions to its new management structure. Prospective buyers should monitor upcoming collections to see how the introduction of Italian creative influence changes the product aesthetic.
The takeaway
The acquisition represents a major change in ownership for a brand with nearly two centuries of history. Fans of the watchmaker should keep an eye on how the new leadership under the Damiani Group preserves traditional craftsmanship while evolving the design language.
Further reading
Discover more about current luxury market developments in the Jewelry section.
Source note: This article includes information reported by The New York Times.
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