The Paramus company will retain a minority stake as it concentrates on accessible luxury and fashion watches.
October 13, 2026
New Jersey-based Movado Group has agreed to sell a 95% stake in Swiss watchmaker EBEL for approximately $66.5 million, transferring control to a buyer group led by Montres Journe SA, with participation from Chanel and watch-industry executive Pierre Jacques.
Movado will retain a 5% ownership interest. The agreement became effective October 5 and was announced October 8, according to the company’s Securities and Exchange Commission filing. The purchase price remains subject to customary closing adjustments.
The sale gives Movado a narrower business focus while placing EBEL with owners specializing in luxury watches and goods. Movado said it intends to concentrate resources on its accessible luxury and fashion watch and jewelry portfolio. Jacques will become EBEL’s chief executive.
Founded in Switzerland in 1911, EBEL brings more than a century of watchmaking heritage to the transaction. Movado Chairman and CEO Efraim Grinberg said the buyers share the company’s appreciation for the brand and have a vision for its future development.
The transfer extends beyond the EBEL name. Trademarks, intellectual property, inventory and other dedicated assets will move into a newly formed Swiss subsidiary. Those assets include Villa Turque, the historic house designed by architect Le Corbusier. Certain employees dedicated to EBEL will also join the subsidiary, and the buyers will acquire 95% of that entity at closing.
For retailers and other business partners, continuity will depend partly on the handover. Movado plans to provide services after closing under a transition agreement intended to support customers and maintain operations during the ownership change. The company said closing is expected within the next few months, subject to required conditions.
The structure leaves Movado with a financial interest in EBEL’s future while giving the new owners control. Whether that retained stake becomes more valuable will depend on the brand’s performance under its new leadership.
JBizNews Desk | Paramus, N.J.
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