Business Wire·Oct 8, 2026, 6:45 AM ET

Movado Group, Inc. Enters Into Agreement to Sell Majority Interest in EBEL

Movado Group, Inc. signed a binding agreement to sell a 95% interest in the EBEL brand for $66.5 million to a buyer group led by Montres Journe SA.
The buyer group includes Chanel & Pierre Jacques, who will serve as Chief Executive Officer of EBEL.
Movado Group will retain a 5% minority interest in the brand following the transaction.
The deal allows Movado to focus on its core accessible luxury & fashion watch portfolio while EBEL gains a dedicated ownership platform for growth.
EBEL was founded in Switzerland in 1911 & is known for distinctive design, craftsmanship, & a rich heritage.
Assets transferring to the new Swiss subsidiary include trademarks, intellectual property, inventory, & the Villa Turque historic house.
Certain Movado personnel dedicated to EBEL will become employees of the new subsidiary.
Closing is expected within the next few months, subject to customary adjustments & closing conditions.
Movado will provide transition services post-closing to ensure continuity for EBEL's customers & business partners.
Forward-looking statements in the release are subject to risks including potential delays, regulatory approvals, & purchase price adjustments.