richemont group Tag

When Richemont and the Damiani Group announced that Baume & Mercier would move from the Swiss luxury conglomerate to the family-run Italian jeweller, the news arrived in a whispered way. No superlatives. No financial figures. Just a change of ownership that, on closer inspection, says a great deal about where luxury is, and is not, heading. For Richemont, the decision marks another moment of portfolio recalibration. Baume & Mercier, with its nearly 200-year history and accessible positioning in the luxury watch segment, has long occupied an ambiguous space within the group: respected but not strategic; heritage-rich but commercially constrained in a market increasingly dominated by high complications, scarcity and price escalation. In an industry where scale and singularity are both demanded,...