watch industry

Movado Agrees to Sell 95% of Ebel for $66.5 Million to F.P. Journe-Led Group

Movado Group has entered a binding agreement to sell 95 percent of watchmaker Ebel to a group led by F.P. Journe, with Chanel and industry veteran Pierre Jacques participating. The $66.5 million deal is expected to close within the next few months.