F.P. Journe, Chanel, and Pierre Jacques Acquire 95% of Ebel
A consortium led by F.P. Journe (Montres Journe), including Chanel and former De Bethune CEO Pierre Jacques, has acquired 95% of the Swiss watch brand Ebel from its owner, the Movado Group, for US$66.5 million. Movado Group will retain the remaining shares. This acquisition brings together Chanel's financial backing, Journe's watchmaking expertise, and Jacques's operational experience to potentially revive Ebel, a brand that once held significant prominence in the 1980s and 1990s.
- Consortium led by Montres Journe, comprising Chanel and Pierre Jacques.
- Acquisition of 95% of Ebel from Movado Group.
- Purchase price: US$66.5 million.
- Movado Group retains remaining shares.
Ebel was famously known for its Sport Classique model, often nicknamed “wave,” characterized by its integrated bracelets designed to resemble waves.
During its peak in the 1980s and 1990s, Ebel was a major Swiss watch brand, even producing watches for Cartier and being a significant buyer of Zenith El Primero movements.
Ebel has had a complex ownership history, being sold by its founder's grandson to Investcorp in 1994, then acquired by LVMH, and subsequently by Movado Group.
Movado Group's ownership of Ebel spanned two decades, during which they unsuccessfully attempted to revive the brand.
The consortium's different members bring distinct strengths: Chanel offers financial power, François-Paul Journe provides watchmaking knowledge, and Pierre Jacques contributes operational and managerial expertise.