ounded in 1911 in La Chaux-de-Fonds, Ebel is set for a change of ownership. Movado Group has entered into a binding agreement to sell a 95% interest in the brand to a buyer group led by Montres Journe SA, the Geneva-based manufacturer operating under the F.P. Journe name. Chanel and Pierre Jacques are also participating in the transaction, although the ownership split between the buyers has not been disclosed.

The $66.5 million transaction, subject to adjustments, remains conditional on customary closing requirements. Completion is expected in the coming months. Movado Group will retain a 5% stake.

For the US group, the sale will allow it to focus its resources on its accessible luxury and fashion watch and jewellery portfolio. For Ebel, known notably for its Sport Classic collection (which celebrates its fiftieth anniversary next year – read more here), it opens a new chapter with the backing of Montres Journe and Chanel. Pierre Jacques will become Chief Executive Officer upon completion of the transaction.

“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,” says Efraim Grinberg, Chairman and Chief Executive Officer of Movado Group.

François-Paul Journe emphasises the central role of the product: “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.”

Frédéric Grangié, President of Chanel Watches & Fine Jewelry, comments: “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.”

Pierre Jacques, who will take over as Chief Executive Officer following the transaction, says: “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.”

The transaction encompasses trademarks, intellectual property, inventory and certain other assets dedicated to Ebel, including the Villa Turque, designed by Le Corbusier. These assets will be transferred to a newly formed Swiss subsidiary of Movado Group, which will also employ some of the personnel dedicated to the business. The buyers will acquire 95% of the subsidiary’s equity at closing.

Movado Group will subsequently provide certain services under a transition services agreement to ensure business continuity for Ebel’s customers and partners.