South African billionaire Johann Rupert’s Richement sells Baume & Mercier
Billionaires Africa | 23.01.2026 16:13
Richemont, the Swiss luxury group controlled by South African billionaire Johann Rupert, has agreed to sell Baume & Mercier, one of its specialist watchmaking brands, to Italy’s family-owned Damiani Group in a private transaction that signals a reshaping of portfolios at the upper end of the luxury market.
