Movado to Sell 95% Stake in EBEL Luxury Watch Brand for $66.5 Million

MT newswire2026/10/08 11:34

07:34 AM EDT, 10/08/2026 (MT Newswires) -- Movado (MOV) said Thursday that it has agreed to sell a 95% stake in its EBEL luxury watch brand for $66.5 million to a group led by Montres Journe, with participation from Chanel and Pierre Jacques. The deal enables Movado to deepen its focus on its core luxury and fashion watch and jewelry products, it said. Movado said it will initially transfer EBEL's intellectual property, inventory, and certain other assets to a newly formed Swiss unit, while retaining a 5% stake in the business. The transaction, expected to close in the next few months, is subject to adjustments and closing conditions, the company said.

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