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Movado Group has signed a binding agreement to sell a 95% interest in its EBEL brand for US$66.5 million to a buyer group led by Montres Journe SA, the Geneva company that trades as F.P. Journe. Chanel and Swiss watch-industry executive Pierre Jacques are also named as participants. Movado announced the deal on October 8, 2026, and it has not closed yet. Movado keeps the remaining 5%.
What was actually announced
The October 8, 2026 announcement is a signed agreement with conditions attached. It is not a completed transaction. Movado says the price is subject to customary adjustments and that closing depends on conditions still to be met, including a pre-closing reorganization and any regulatory, tax, or other approvals that may be required. Movado expects closing “in the next few months.” That is the company’s forecast, not a confirmed date.
Who is on the buyer side
Movado names one lead and two participants. The announcement does not say how much of the 95% each buyer will hold.
| Party | Role in the announced deal | Individual stake |
|---|---|---|
| Montres Journe SA (doing business as F.P. Journe) | Leads the buyer group | Not disclosed |
| Chanel | Participates in the buyer group; Frédéric Grangié speaks for Chanel Watches & Fine Jewelry | Not disclosed |
| Pierre Jacques | Participates; slated to become EBEL chief executive after closing | Not disclosed |
| Movado Group | Seller of 95%; retains 5% | 5% |
Because the stakes are undisclosed, the most accurate description of the buyer group is that Montres Journe leads it, with Chanel and Jacques taking part. Reports that describe Chanel as having bought EBEL outright go beyond what the announcement states.
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What the US$66.5 million covers
The figure is the price in the agreement for the 95% interest. Movado’s release says the price remains subject to customary adjustments, so the amount that changes hands at closing could differ. The release does not give a breakdown of how the price is split among the buyers.
How the deal is structured
Before closing, Movado plans to form a new Swiss subsidiary. That subsidiary is to receive EBEL-related trademarks and other intellectual property, inventory, and other assets primarily dedicated to EBEL. One of those assets is Villa Turque, the historic modernist house designed by Le Corbusier. At closing, the buyer group is to receive 95% of the subsidiary’s equity. Movado has also said it expects to provide some services to the new owners under a transition-services agreement after closing. The announcement does not describe the length or scope of those services.
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Leadership after closing
Pierre Jacques is to serve as EBEL’s chief executive after the transaction. The release does not say he has already taken the role, so readers should treat him as the designated future CEO rather than the current one.
Movado’s own words on the buyers’ plans are the most specific guidance available. François-Paul Journe, founder of F.P. Journe, said: “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, said: “EBEL is one of the great names of Swiss watchmaking, with a rich heritage, a distinctive creative identity and a strong foundation for future growth.” Jacques said: “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.” These remarks come from the parties involved in the deal, so they describe intent rather than results.
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Why Movado is selling
Movado says the sale lets it focus on its “core accessible luxury and fashion watch and jewelry portfolio,” and gives EBEL a new ownership platform meant to support long-term development. That is Movado’s explanation. Whether the new owners deliver on it is something that will only show over time.
Background on EBEL
Movado’s release identifies EBEL as a Swiss brand founded in La Chaux-de-Fonds in 1911 and names the Sport Classic as one of its collections. Trade publication SJX Watches, in its report dated October 8, 2026, places the launch of the Sport Classique in 1977 and links the collection to an integrated “wave” bracelet that helped lift the brand’s profile. SJX also reports historical ties between EBEL and Cartier watch production and EBEL’s past purchases of Zenith El Primero movements. Those points come from independent reporting and are not stated in the transaction documents. Note the spelling difference: Movado’s release uses “Sport Classic,” while SJX uses “Sport Classique.”
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What is still unknown
- Whether the deal has closed. As of the October 8, 2026 announcement, it has not.
- The exact closing date. Movado’s “next few months” is an estimate.
- Each buyer’s individual percentage of the 95%.
- Any final purchase-price adjustment.
- How responsibilities will be divided among Montres Journe, Chanel, and Jacques beyond Jacques’s CEO role.
For readers following the story, the practical checkpoint is whether Movado or the buyers issue a closing announcement. Until one appears, describe the transaction as agreed, not completed.
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