Movado Group has entered into a binding agreement to sell a 95% interest in Ebel for $66.5 million to a strategic buyer group led by Montres Journe SA, the Geneva-based manufacturer behind F.P. Journe, alongside Chanel and Swiss watch industry executive Pierre Jacques.
Movado Group will retain a 5% stake in the business. The transaction is subject to customary adjustments and closing conditions and is expected to be completed within the coming months.
Pierre Jacques is set to become CEO of Ebel following completion, while Movado Group will provide transitional services to support continuity for the brand’s customers and business partners.
Founded in La Chaux-de-Fonds in 1911, Ebel has a long history in Swiss watchmaking and is closely associated with collections such as the Ebel Sport Classic, characterised by its integrated bracelet, geometric case and distinctive six-screw bezel.
The Ebel 1911 Chronograph relaunched in 2023
The new ownership structure brings together three established names in the luxury watch sector. Montres Journe, established in Geneva in 1999 by independent watchmaker François-Paul Journe, produces F.P. Journe timepieces and components in-house.
Chanel has an established presence in high-end watchmaking and fine jewellery, while Pierre Jacques brings extensive executive experience from the Swiss watch industry.
As part of the agreement, Ebel’s trademarks, intellectual property, inventory and dedicated assets will be transferred to a newly formed Swiss subsidiary of Movado Group prior to the sale of 95% of the equity to the buyer group.
Personnel within Movado Group currently dedicated to the Ebel business will also transition to the new subsidiary.
The assets being transferred include the Villa Turque, the historic modernist house in La Chaux-de-Fonds designed by Le Corbusier.
La Villa Turque – Courtesy of Schwizgebel
Acquired by Ebel in 1986, the architectural landmark has long been associated with the brand and forms part of its design heritage.
Movado Group stated that the divestment will enable the company to concentrate on its core accessible-luxury and fashion watch and jewellery portfolio, while providing Ebel with a dedicated ownership structure and resources for its future development. Movado will remain a minority shareholder with a 5% holding.
The transaction remains subject to customary closing conditions. Upon completion, Ebel will enter a new phase under majority ownership led by Montres Journe, with Chanel and Pierre Jacques as partners. ebel.com
