A consortium led by Montres Journe SA, with participation from Chanel and industry veteran Pierre Jacques, has agreed to acquire a 95% stake in the Swiss watch brand Ebel from the Movado Group for USD 66.5 million. Pierre Jacques will serve as the new CEO of Ebel, aiming to restore the brand's former prominence with a focus on high-end watchmaking.
- 95% stake in Ebel acquired for USD 66.5 million
- Movado Group retains a 5% stake
- Transaction includes trademarks, intellectual property, inventory, and Villa Turque
The acquisition is led by Montres Journe SA, with Chanel (a partial owner of F.P. Journe) and ex-CEO of De Bethune, Pierre Jacques, also participating.
Ebel, founded in 1911, was known for its successful quartz watches in the 1970s and 1980s and also manufactured watches under license for Cartier.
The Movado Group acquired Ebel in 2003 and is divesting from the brand as it appears disconnected from their core activities, which focus on entry-level watches and licensed fashion brands.
The new investor group, including F.P. Journe and Pierre Jacques, brings expertise in high-end, independent watchmaking, suggesting a strategic shift for Ebel.
Chanel's participation expands its watchmaking investment portfolio, which includes stakes in G&F Chatelain, Bell & Ross, Romain Gauthier, F.P. Journe, Kenissi, MB&F, and Kross Manufacture.