Movado Group to sell 95% of EBEL for $66.5 million

Movado Group Inc. (MOV) filed a Form 8K - Other Events - with the U.S Securities and Exchange Commission on October 08, 2026. Effective as of October 5, 2026, Movado Group, Inc. and its subsidiary Movado Group Nederland B.V. ("Movado") entered into a definitive agreement to sell a 95% interest in the EBEL brand ("EBEL") to a strategic buyer group led by Montres Journe SA, with the participation of the luxury house Chanel and Mr. Pierre Jacques. Movado will retain a 5% interest in EBEL. Consideration for the transaction is expected to total approximately $66.5 million, subject to customary closing adjustments. The transaction is expected to close in the fourth quarter of fiscal 2026, subject to satisfaction or waiver of customary closing conditions, including completion of a pre-closing reorganization. The press release is attached hereto as Exhibit 99.1 and is incorporated by reference into this item. The full text of this SEC filing can be retrieved at: Any exhibits and associated documents for this SEC filing can be retrieved at: Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares. (END) Dow Jones Newswires October 08, 2026 16:52 ET (20:52 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.