INSIGHT-RADAR: News Briefs from the Watch Industry

Richemont has finalized the sale of Baume & Mercier to Damiani, and two lounge openings demonstrate how important having dedicated spaces is for watch brands in terms of visibility and community: NOMOS Glashütte has opened a location in Shanghai, and MB&F has opened one in New York.

^{Cover photo: MB&F: the limited-edition LM101 EVO NYC Edition}

Richemont Completes Sale of Baume & Mercier to Damiani

Earlier this year, Richemont and the Damiani Group announced an agreement regarding the acquisition of the Baume & Mercier watch brand. Richemont has now confirmed the completion of the transaction.

With this move, the Italian luxury goods and jewelry group Damiani is significantly expanding its portfolio to include its first true watch brand. Until now, the portfolio consisted solely of a few jewelry watches under the Damiani brand. In addition, the company offered timepieces from various brands through Rocca, the luxury jewelry and watch retailer owned by the group.

Through its existing multibrand distribution network, the Damiani Group intends to strengthen Baume & Mercier’s global presence and also open select monobrand boutiques in strategically important international locations.

“This acquisition marks a significant milestone in strengthening our presence in the world of haute horlogerie and is an important step in our long-term growth strategy,” says Guido Damiani, Executive President of the Damiani Group.

Richemont will continue to oversee Baume & Mercier’s operations on an interim basis while the Damiani Group prepares to integrate the brand into its own business units. damianigroup.com

Nomos Glashütte Opens a Lounge in Shanghai

Nomos Glashütte has opened its second lounge worldwide in Shanghai. The new location is in the historic Guang’er Warehouse on the Suzhou Canal and is intended to provide customers, retailers, and the media with direct access to the brand.

^{Nomos Glashütte in Shanghai: Phil Wu on the left, the workshop in the lounge on the right}

Following the Nomos Lounge New York, which opened in 2024, the new location underscores the independent manufacturer’s international focus. The lounge is designed for private appointments, presentations, and events. On-site services will also be offered: watchmakers will perform repairs and overhauls in Shanghai.

MB&F; Celebrates Its New Lounge in New York

To mark the opening of its new lounge in New York, MB&F; is unveiling a limited-edition LM101 EVO NYC Edition. Limited to 25 pieces, this special edition combines a 5N+ rose gold case with a black, PVD-coated sunburst dial.

The New York lounge is located in the Fuller Building at 595 Madison Avenue, overlooking 57th Street. The Art Deco building was designed by Walker & Gillette in 1929 and is one of Midtown Manhattan’s most distinctive historic landmarks. MB&F; occupies spaces on the fifth floor; these are designed as a venue for collectors, presentations, and mechanical art, rather than as a traditional retail space. The “MB&F; NYC” engraving on the case back references the inspiration behind the edition.

Technically, the watch remains true to the LM101 EVO, featuring, among other things, a hand-wound movement, a 14-mm floating balance wheel, a 60-hour power reserve, FlexRing shock protection, and water resistance to 80 meters.

^{MB&F;: The Limited-Edition LM101 EVO NYC Edition}