Richemont has agreed to sell Swiss watchmaker Baume & Mercier to the Italian, family-owned Damiani Group, concluding a long-running strategic review of the brand, which Richemont acquired in 1988. While no transaction value was disclosed, the sale reflects Richemont’s strategy to streamline its portfolio and refocus on the higher end of luxury. Positioned in the competitive accessible luxury segment, Baume & Mercier proved challenging within Richemont’s ecosystem. For Damiani, the acquisition strengthens its watchmaking ambitions. Richemont will continue to provide operational support for at least 12 months following closing, expected in summer 2026.