Richemont and the Damiani Group, a prestigious, family-run Italian global luxury group, announced yesterday that they have signed an agreement for the Damiani Group to acquire full ownership of Baume & Mercier in a private transaction. This represents a moment of reckoning for heritage manufactures navigating the increasingly polarized luxury watch market, and raises uncomfortable questions about what happens when an almost 200-year legacy isn't enough to secure your place in a conglomerate's future.
Posts tagged #Richemont Group
From the Editor: LVMH to Finally Acquire Richemont? Or Will it be Cartier and Van Cleef & Arpels?
Today has been an interesting day with the news coming from Richemont regarding some very high-level changes to CEO positions at Cartier and Van Cleef & Arpels; changes that also affect Vacheron Constantin and Jaeger-LeCoultre as of September 1st, 2024. While Catherine Rénier is set to leave her post as CEO of Jaeger-LeCoultre and become CEO of Van Cleef & Arpels, Louis Ferla, currently CEO of Vacheron Constantin will succeed Cyrille Vigneron as Chief Executive Officer of Cartier, effective September 1, 2024.
Experience: A Day at the North American Institute of Swiss Watchmaking NAIOSW. An Exceptional Free Program Fully Subsidized by Richemont Group and Cartier.
Last week, we had the pleasure to visit the North American Institute of Swiss Watchmaking —NAIOSW— invited by our friends at Cartier. This visit that we can refer to as one of the 'most enlightening' days in our watch collecting life, was for sure a day very well spent. The NAIOSW was established in 2008 —education began in 2009— by the Richemont Group with the purpose of educating and training successful watchmakers for a career in luxury watch repair.
