Movado Group, Inc. has entered into a definitive agreement to sell a 95% interest in its EBEL brand to a strategic buyer group led by Montres Journe SA, a Geneva-based luxury watch manufacturer. The transaction, announced on October 8, 2026, includes participation from the luxury house Chanel and industry veteran Pierre Jacques, who will serve as the Chief Executive Officer of EBEL following the sale. Movado Group will retain a 5% interest in the business.
The total consideration for the transaction is expected to be approximately $66.5 million, subject to customary closing adjustments. The deal is anticipated to close in the fourth quarter of fiscal 2026, contingent upon the satisfaction of standard closing conditions, including the completion of a pre-closing reorganization. Under the terms of the agreement, trademarks, intellectual property, inventory, and certain other assets dedicated to the EBEL business—including the Villa Turque, a historic modernist house designed by architect Le Corbusier—will be transferred to a newly formed Swiss subsidiary of Movado Group. Certain personnel dedicated to the EBEL business will also transition to this subsidiary.
EBEL, founded in Switzerland in 1911, is a premium luxury watch brand known for its distinctive design and craftsmanship. Movado Group stated that this strategic sale allows it to sharpen its focus on its core accessible luxury and fashion watch and jewelry portfolio. The buyer group, supported by the expertise of Montres Journe and Chanel, aims to provide the brand with the resources and dedicated focus required for its next phase of growth.
