Richemont Sells Baume & Mercier To Damiani [Forbes]
COMPAGNIE FNCE RCH UN/ADR (CFRUY)
NASDAQ:AMEX Investor Relations:
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Company Research
Source: Forbes
... More getty In a surprise move, luxury goods holding company, Richemont Group, said it will sell specialist watch brand, Baume & Mercier, to the Damiani Group, an Italian family-run jewelry business. The two companies released a brief joint statement Thursday saying the sale is expected to close in the summer of 2026 and remains subject to certain condition precedents. Financial terms of the transaction were not disclosed. Damiani Group's hard luxury goods portfolio comprises of the Damiani jewelry brand, Salvini, Bliss and Calderoni jewelry brands, as well as Venini, Italy's artistic glassmaker based in Murano, alongside its luxury multi-brand watch and jewelry distributor Rocca. Damiani said it intends to enhance the the watchmaker's visibility and reach by leveraging its own extensive multi-brand distribution network and opening select mono-brand boutiques in strategic locations over time. To ensure a smooth transition with the Damiani Group, Richemont will provide
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