Richemont has sold Baume & Mercier to Damiani Group, moving one of Switzerland’s long-standing watch names into Italian ownership. The deal matters because Baume & Mercier is not a small heritage label. It is a historic Swiss watchmaker with roots in the 19th century and a long record in accessible luxury watchmaking. For Richemont, the sale tightens focus inside one of the largest luxury groups in the world. For Damiani Group, it adds a recognized Swiss watch brand to a busi