Strategic acquisition: Montres Journe and Chanel invest in Ebel

Movado Group, Inc. (Movado Group) has entered into a binding agreement to sell a 95 percemt interest in its Swiss luxury watch brand Ebel for 66.5 million dollars to a strategic buyer group.

The acquiring consortium is led by Geneva-based Montres Journe SA (Montres Journe), the high-end luxury watch manufacturer behind F.P. Journe. French luxury house Chanel and Swiss watch industry executive Pierre Jacques are also participating in the deal. Jacques will assume the role of chief executive officer at Ebel upon completion of the transaction. US-based Movado Group will retain a 5 percent minority equity interest in the brand.

Incoming CEO Jacques expressed confidence in the transition: “I am incredibly proud and excited to lead this new stage of EBEL alongside François-Paul Journe and Chanel, and to contribute to the future success of such an iconic Maison.”

Strategic portfolio reallocation for Movado Group

The divestiture ends more than two decades of full ownership by Movado Group, which originally acquired Ebel in 2004. The transaction allows Movado Group to sharpen its operational focus on its core portfolio of accessible luxury, fashion watch, and jewelry lines.

"EBEL is a prestigious brand with a rich heritage, known for its carefully curated collections, and we are very pleased to have found partners that share our appreciation for the brand and have an exciting vision for its future," said Efraim Grinberg, chairman and chief executive officer of Movado Group. "It allows us to concentrate fully on executing our priorities across our watch and jewelry brands, while placing EBEL with owners who have the expertise, commitment and long-term perspective to unlock the full potential of this exceptional Swiss brand."

To support continuity for retail partners and customers, Movado Group will provide transition assistance under a formal services agreement following the closing.

New operational structure and industry backing

Founded in La Chaux-de-Fonds, Switzerland, in 1911, Ebel built its historical reputation on distinct case geometry, integration of bracelets, and Swiss watchmaking craftsmanship. The entry of Montres Journe and Chanel provides the brand with direct access to specialized horological expertise and capital reserves geared toward long-term positioning.

Commenting on the acquisition, François-Paul Journe, founder of F.P. Journe, stated: “Like Michelangelo and so many others after him: the product, the product, the product. EBEL has always stood for exceptional product, and I am delighted to contribute to its next chapter alongside my friends and partners.”

The agreement covers brand trademarks, intellectual property, inventory, and designated assets, including the Villa Turque, a historic modernist property designed by architect Le Corbusier. Specific operational personnel within Movado Group will transition to a newly formed Swiss subsidiary that will house Ebel.

Frédéric Grangié, president of Chanel Watches & Fine Jewelry, highlighted the alignment with the French group's investment strategy in fine watchmaking. "This investment reflects our confidence in the brand’s long-term potential and our commitment to supporting its development while preserving the craftsmanship, excellence and values that have defined EBEL for generations," Grangié noted.