Switzerland $106 Billion Luxury Giant Richemont Sells Specialist Watchmaker Baume & Mercier to Italy Family-Run Luxury Group Damiani Group, Baume & Mercier Founded in 1830 as Frères Baume by Brothers Louis-Victor & Célestin Baume
23rd January | Hong Kong
Switzerland luxury giant Richemont ($106 billion market value) has announced to sell specialist watchmaker Baume & Mercier to Italy family-run luxury group Damiani Group. Baume & Mercier was founded in 1830 as Frères Baume by brothers Louis-Victor & Célestin Baume. Baume & Mercier – Since 1830, Baume & Mercier has been combining performance, technical achievement and refined design to create watches of the highest quality for men and women. The Maison has long been recognised as a pioneer, delivering elegant and avant-garde watches that have impacted time periods and styles. Craftsmanship is based on the conception of products developed at the Maison’s headquarters in Geneva, as well as the manufacturing work performed in its Brenets factory, in the heart of the Swiss Jura. History – In keeping with its watchword, which has today become the House motto, the Baume family laid the foundations for a family business that would go on to become Baume & Mercier. It all began in 1830 when Louis Joseph Baume opened a watchmaking counter in Les Bois, a village of the Canton of Berne in Swiss Jura. Four years later, his sons, Louis-Victor and Célestin Baume, registered the business under the name “Frères Baume, la Famille Louis Joseph.” Driven by their enthusiasm and skills, the company – and watchmaking in a larger sense – quickly developed through the creation of exceptional pieces featuring cutting-edge innovations. Richemont – At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term. Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as TimeVallée and Watchfinder & Co. Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange, Richemont’s secondary listing. Damiani Group – DAMIANI Group: a story, a family, a truly Italian passion. Founded in Valenza in 1924, Damiani is an Italian jewellery Maison renowned worldwide for the excellence of its handcrafted creations and a symbol of the finest Made in Italy tradition. Each Damiani jewel is a unique masterpiece, created by master goldsmiths from Valenza and distinguished by exclusive design, exceptional gemstones and meticulous attention to detail. The company has been led by the Damiani family for three generations, from founder Enrico to his son Damiano, and today by his grandchildren Guido, Silvia and Giorgio. Damiani is the only international jewellery group with a century-long history still fully managed by the founder’s heirs. Damiani is the only jewellery Maison in the world to have won 18 Diamonds International Awards, the highest global recognition in fine jewellery. Its creations have been chosen by leading international celebrities and iconic figures from cinema and culture. The brand is present through monobrand boutiques in the most prestigious luxury locations worldwide and via selected department stores and multi-brand retailers. The Damiani Group promotes Italian excellence through a portfolio of complementary brands, including Salvini, Bliss and Calderoni in jewellery, Rocca, Italy’s only luxury jewellery and watch retail chain, and Venini, the historic Murano artistic glassmaker founded in 1921 and represented in major international museums.
“ Switzerland $106 Billion Luxury Giant Richemont Sells Specialist Watchmaker Baume & Mercier to Italy Family-Run Luxury Group Damiani Group, Baume & Mercier Founded in 1830 as Frères Baume by Brothers Louis-Victor & Célestin Baume “
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Switzerland $106 Billion Luxury Giant Richemont Sells Specialist Watchmaker Baume & Mercier to Italy Family-Run Luxury Group Damiani Group, Baume & Mercier Founded in 1830 as Frères Baume by Brothers Louis-Victor & Célestin Baume
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