Cover illustration created for Leo Journal; not an official EBEL product photograph.
Announcement date: October 8, 2026
Movado Group has entered into a binding agreement to sell a 95% interest in Swiss watchmaker EBEL to a buyer group led by Montres Journe SA, the Geneva manufacture behind F.P. Journe. Chanel and Swiss watch executive Pierre Jacques are also participating in the group, with Jacques set to become EBEL’s chief executive officer after the transaction closes.
The announced consideration is $66.5 million, subject to customary adjustments and closing conditions. Movado Group plans to retain the remaining 5% interest.
What the agreement includes
According to Movado Group’s official release, EBEL’s trademarks, intellectual property, inventory and certain other assets dedicated to the brand will be transferred to a newly formed Swiss subsidiary before closing. The transaction also includes Villa Turque, the historic Le Corbusier-designed house associated with EBEL in La Chaux-de-Fonds. Certain Movado Group employees dedicated to EBEL are expected to move to the new subsidiary.
Once the stated pre-closing steps are complete, 95% of the subsidiary will transfer to the buyer group. Movado Group says closing is expected within the next few months and that it will provide transition services afterward to support continuity for customers and business partners.
Why the ownership group matters
The participants bring three different perspectives to the next phase of the brand. Montres Journe contributes independent high-watchmaking expertise; Chanel has an established luxury and watchmaking platform; and Pierre Jacques brings senior experience in the Swiss watch industry. Movado Group’s announcement frames the agreement as a way to give EBEL dedicated ownership, capital and long-term focus while Movado concentrates on its remaining portfolio.
EBEL was founded in Switzerland in 1911 and is best known today for collections including the Sport Classic. The brand’s future product direction, however, was not detailed in the announcement.
What has not been announced
This is an ownership transaction announcement, not a watch launch. No new EBEL model, collection, reference, retail price or release date was disclosed. The release also does not announce changes to Canadian availability, authorized distribution, warranty coverage or after-sales service.
The agreement has not yet closed and remains subject to conditions. It would therefore be premature to treat the ownership change as completed or to infer a specific effect on current EBEL watch values.
Leo Gallery's Take
For Canadian collectors, the most important point is the distinction between a potentially significant new ownership platform and an immediate change in the watches themselves. The involvement of F.P. Journe, Chanel and Pierre Jacques makes EBEL’s next chapter worth following, but buyers should wait for official product, distribution and service announcements before drawing conclusions about availability or market value in Canada.
Official source
Movado Group, Inc. — “Movado Group, Inc. Enters Into Agreement to Sell Majority Interest in EBEL” (October 8, 2026).
