Movado to sell 95% of EBEL brand to Montres Journe-led group including Chanel for about $66.5 million

MOVADO GROUP INC

Movado Group (MOV) agreed to sell a 95% interest in its EBEL brand for approximately $66.5 million, retaining a 5% stake.
Buyer group is led by Geneva luxury watchmaker Montres Journe SA, with participation from Chanel and industry veteran Pierre Jacques.
Pierre Jacques will serve as CEO of EBEL; closing expected in the fourth quarter of fiscal 2026, subject to a pre-closing reorganization.
Trademarks, IP, inventory and the Le Corbusier-designed Villa Turque transfer to a new Swiss subsidiary; Movado will provide transition services.
CEO Efraim Grinberg said the sale lets Movado sharpen focus on its core accessible luxury watch and jewelry portfolio.

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