South African billionaire Johann Rupert is making a surprising move by selling one of the world's oldest luxury watch brands, Baume & Mercier, to Italy's Diamini Group. This deal marks a significant shift in the ownership of a historic watchmaker that has been a cornerstone of the luxury industry for over a century. But here's where it gets interesting: the new owner, Damiani, is a family-owned jewelry group known for its gold and gem-set creations, and they have big plans for the brand. With a focus on strengthening Baume & Mercier's visibility and global reach, Damiani aims to leverage its multi-brand distribution network and open mono-brand boutiques in strategic locations. This strategic partnership could potentially reshape the luxury watch market, as the combination of Damiani's expertise in jewelry and Baume & Mercier's rich history in watchmaking could create a powerful force in the industry. But will this move be a success? Only time will tell. As the deal is set to close in the summer of 2026, we can expect an exciting transformation in the world of luxury watches.
