South African billionaire Johann Rupert's Richemont completes Baume and Mercier sale to Italy's Damiani
Billionaires Africa | 03.07.2026 04:34
Johann Rupert's Richemont has completed the sale of Baume and Mercier to Italy's Damiani Group, transferring ownership of the 196-year-old Swiss watchmaker that has been part of Richemont's portfolio since the luxury conglomerate's founding in 1988, ending a 38-year relationship and marking Rupert's most significant divestiture since Richemont's exit from Yoox Net-a-Porter.
