Richemont finalises sale of Baume & Mercier to Damiani Group

On Wednesday, luxury group Richemont, parent company of Cartier, announced it has finalised the sale of watchmaker Baume & Mercier to the Italian Damiani Group. The initial agreement for this private transaction was made public on January 22, 2026. It involves the acquisition of 100 percent of the Swiss brand's shares, with all prerequisite conditions having been met. The financial terms of this operation have not been disclosed.