Both Piaget and Baume & Mercier were owned by the Piaget family.
Cartier SA said it will acquire a controlling interest in Swiss watchmakers Piaget SA and Baume & Mercier SA, a move that will give the French luxury products company a commanding share of the upscale watch market.
Like every other industry, the watch market is in recession - but recession for some watch manufacturers would be the envy of their counterparts in other trades. Take, for example, Cartier and its sister brands, Piaget and Baume & Mercier.