Movado agrees to sell 95% of EBEL for $66.5 million
Movado Group entered a binding agreement to sell a 95% interest in its EBEL brand for $66.5 million to a strategic buyer group led by Montres Journe SA, with Chanel participating.
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By Colin KellaherMovado Group has agreed to sell a 95% stake in its EBEL watch brand to a group led by Swiss luxury-watch maker Montres Journe for $66.5 million.Movado on Thursday said it will retain a 5% stake in EBEL, which the Paramus, N.J., company acquired in 2004.Movado said luxury fashion ho…
Movado Group, Inc. 5 million to a strategic buyer group led by Montres Journe SA (“Montres Journe”), a Geneva-based luxury watch manufacturer, with the participation of Chanel (“…