Damiani to Acquire Baume & Mercier From Richemont

Why It Matters

Damiani’s revenue surge and strategic acquisitions signal a robust diversification into watches and manufacturing, strengthening its position in the global luxury market while leveraging Asian retail growth.

Key Takeaways

• Revenue topped €400 million ($436 m), single‑digit growth YoY
• Acquired Baume & Mercier from Richemont, adding 200‑year‑old watch brand
• Opened 30+ new stores, including flagship Casa Damiani Seoul
• Launched high‑jewellery line Ode all’Italia and appointed K‑Pop star I.N

Pulse Analysis

Damiani’s latest financial results underscore a rare growth story in the European luxury sector, where many peers are still grappling with sluggish demand. Surpassing €400 million in revenue—roughly $436 million—represents a modest but meaningful uptick from the prior year’s €380 million ($414 million). This performance reflects not only strong sales of its core jewellery lines but also the successful integration of new assets that broaden the group’s product mix and operational capabilities.

The acquisition of Baume & Mercier from Richemont is a pivotal move that adds a venerable Swiss watch brand, nearly two centuries old, to Damiani’s portfolio. By entering the high‑end watch segment, the group diversifies revenue streams and taps into a market segment that has shown resilience amid economic uncertainty. Coupled with the purchase of Laboratorio Carraro, an automated manufacturing specialist, Damiani is bolstering both its design heritage and production efficiency, positioning itself for scalable growth.

Retail expansion remains a cornerstone of Damiani’s strategy, with over 30 new stores launched globally, including the flagship Casa Damiani Seoul in South Korea’s luxury hotspot. The Korean market, already a key growth engine, benefits from the group’s localized store concepts and high‑visibility brand ambassadors like K‑Pop star I.N. These initiatives, alongside the Ode all’Italia collection, reinforce Damiani’s commitment to marrying traditional craftsmanship with contemporary cultural relevance, setting the stage for sustained international expansion.

Deal Summary

Italian jewellery group Damiani announced it has signed an agreement with Richemont to acquire the Swiss watch brand Baume & Mercier, with the transaction expected to close in the summer. The deal expands Damiani’s hard‑luxury portfolio and marks its most significant acquisition in fiscal 2025‑26.