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Tag: watchmaker

  • Damiani Group Acquires Iconic Swiss Watchmaker Baume & Mercier from Richemont

    Damiani Group Acquires Iconic Swiss Watchmaker Baume & Mercier from Richemont

    Switzerland’s luxury conglomerate Richemont has transferred the ownership of the distinguished watchmaker Baume & Mercier to Damiani Group of Italy. The financial details of this transaction remain undisclosed.

    Merging Into Damiani’s Luxury Portfolio

    Following this acquisition, Baume & Mercier will integrate into Damiani’s luxury product assortment. Damiani Group’s current portfolio consists of its own brand along with Salvini, Bliss and Calderoni – all renowned jewellery brands. Additionally, it owns Venini, a glassmaking company, and Rocca, a distributor of multi-brand watches and jewellery.

    Baume & Mercier, a Swiss luxury watch company, was initially established as Frères Baume in 1830. It started operating under its present name from 1918. The brand is globally recognized for its sophisticated and high-end wristwatches that seamlessly blend traditional craftsmanship with modern aesthetics.

    Baume & Mercier was incorporated into the Richemont Group during the latter’s formative years in 1988.

    Unlocking Long-term Potential

    Richemont has expressed that Baume & Mercier’s long-term potential can be best achieved under the Damiani Group, considering the latter’s robust presence in Italy.

    Damiani intends to boost Baume & Mercier’s visibility and market penetration by utilizing its widespread multi-brand distribution network. It also plans to establish exclusive mono-brand boutiques in select strategic locations.

    Ensuring a seamless transition, Richemont will continue to offer operational services for Baume & Mercier, for a minimum period of 12 months after the deal closure.

    The transaction is poised to conclude this summer, subject to certain prerequisites.

    Richemont’s Business Areas

    Richemont’s operations span across three primary sectors – jewellery, specialist watches, and fashion and accessories. The group’s portfolio includes esteemed watchmakers such as A Lange & Sohne, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin.

    In the quarter ending on December 31, Richemont reported a sales revenue of 6.4 billion euros, marking an 11% growth at constant exchange rates.

    Questions & Answers

    What is the history of Baume & Mercier?
    Baume & Mercier was originally established as Frères Baume in 1830 and began operating under its current name from 1918. It became part of the Richemont Group in 1988.

    What are Damiani Group’s plans for Baume & Mercier?
    Damiani Group aims to enhance Baume & Mercier’s visibility and market reach by leveraging its extensive multi-brand distribution network and opening select mono-brand boutiques in strategic locations.

    What are the primary sectors of Richemont’s operations?
    Richemont operates mainly in three sectors – jewellery, specialist watches, and fashion and accessories.

  • Swiss watchmaker Jacob & Co launches its first store in Japan

    Swiss watchmaker Jacob & Co launches its first store in Japan

    Swiss luxury watchmaker, Jacob & Co, has landed in Japan, opening its first brick-and-mortar store in the bustling district of Ginza this month.  The opening ceremonies, scheduled to take place on October 13, will be attended by the brand’s chairman and founder Jacob Arabo.  Situated between Ginza Station and Shimbashi Station and spanning one floor, the Jacob & Co Ginza store adapts the brand’s signature store design concept in black and white. While the ceiling features L

    Situated between Ginza Station and Shimbashi Station and spanning one floor, the Jacob & Co Ginza store adapts the brand’s signature store design concept in black and white. While the ceiling features LED lighting with Jacob & Co’s geometric lines, a large LED monitor is stalled on the wall to display the brand’s latest campaign.

    The store will be home to Jacob & Co’s full collection of watches, including the brand’s signature ‘Five Time Zone Watch’, which simultaneously displays the time in five different countries.

    The launch is part of its international footprint expansion plan. CEO of Jacob & Co, Benjamin Arabov, earlier this year said the company was planning to double its international footprint in the coming years.

    Founded in 1986 by Jacob Arabo, Jacob & Co has a presence in 31 countries and regions, including South Korea, India, Mainland China, Malaysia, Hong Kong and Singapore.

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  • Panerai Opens Tsim Sha Tsui Centre Boutique

    Panerai Opens Tsim Sha Tsui Centre Boutique

    Florentine high-end luxury watchmaker Panerai has opened a boutique in Kowloon.

    The 60sqm Panerai Tsim Sha Tsui Centre store is the fifth opened in Hong Kong, after the Landmark Prince, Canton Road, IFC and Times Square boutiques.

    The concept of the design and materials used reflect Panerai’s Italian tradition and stands as a reference to the underwater universe. The use of oak, veined Italian marble, burnished brass, bronze, and a special “reeded” glass reinterprets the watchmaker’s technical codes, as well as the brass lights and sales counters with wooden details recalling the sea and sailing ships.

    Panerai now has 85 boutiques throughout the world, five of which are in Hong Kong.

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  • Swiss watchmaker opens new boutique at Suria KLCC

    Swiss watchmaker opens new boutique at Suria KLCC

    Swiss luxury watch manufacturer Omega has opened its fourth boutique in Malaysia, at Suria KLCC, to cater to growing demand for its timepieces.

    The event kicked off with a ribbon-cutting ceremony and a traditional lion dance performance.

    Omega president and chief executive officer Raynald Aeschlimann said the brand had established a strong presence in this country, and enjoyed excellent reception in the last 11 years.

    “We are delighted to further extend the boundaries of our retail experience in Malaysia, and are confident that now is an ideal time to open a new boutique in the heart of Kuala Lumpur.

    “With this boutique, we look forward to sharing our full range of products with our customers in this house of Omega,” he said.

    Located on level one of the mall, the new boutique is an important part of the retail strategy of Omega, which opened its first boutique in 2006 in Starhill Gallery, Kuala Lumpur.

    The Omega Seamaster Collection is one of the brands popular selections.

    The Omega Seamaster Collection is one of the brand’s popular selections.

    This was followed by a store in Pavilion Kuala Lumpur and Gurney Plaza, Penang.

    Not only does the location of the new retail store reflect the increasing popularity of Omega in the region, it also strengthens the brand’s relationship and commitment to Malaysia’s luxury market.

    Just like Omega’s other boutiques, the new store’s setup was inspired by the natural elements of air, water and sunlight – depicted using cream and champagne in the interior design, along with exotic reconstituted zebrawood furniture and chiselled glass surfaces.

    With a team of professionally-trained sales associates at hand to help customers, the boutique offers an elegant and comfortable shopping experience.

    Among the guests at the store’s opening were Malaysian jazz queen Datuk Sheila Majid and fashion enthusiasts and celebrities Nazim Othman, Jojo Goh, Tasha Shilla, Siti Saleha, Daphne Charice and Serene Lim.

    Apart from its collections of watches, the store also offers fine jewellery, quality leather goods and sunglasses for both men and women.

    Founded in 1848, Omega is a brand within the Swatch Group, the world’s leading watch manufacturer, synonymous with excellence, innovation and precision.