Movado Group, Inc. Enters Into Agreement to Sell Majority Interest in EBEL
Movado Group entered into a binding agreement to sell a 95% interest in its EBEL brand for $66.5 million to a buyer group led by Montres Journe SA, with Chanel and Pierre Jacques also participating. Jacques will serve as EBEL’s CEO.
Why it matters — The agreement would transfer majority ownership of EBEL, a Movado Group brand, to the buyer group.