Movado Group has agreed to sell 95% of Ebel for $66.5 million to a group led by Montres Journe, alongside Chanel and Pierre Jacques, who will lead the brand. Movado will retain 5%. The transaction includes Ebel’s intellectual property, inventory and Villa Turque, with closing expected in the coming months.
Why it matters: The deal would place Ebel under new controlling ownership while allowing Movado Group to focus on accessible luxury, fashion watches and jewelry. The involvement of F.P. Journe and Chanel suggests potential for a strategic repositioning of the historic Swiss brand.