Movado Group To Sell Its 95% Stake In The EBEL Brand For $66.5M To Strategic Buyer Group Led By Swiss Luxury Watch Manufacturer Montres Journe
Pierre Jacques, a renowned figure in the Swiss watch industry, who will serve as Chief Executive Officer of EBEL. The transaction is subject to customary adjustments and closing conditions with Movado Group retaining a
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Why It Matters
Movado is selling almost all of its EBEL watch brand for 66.5 million dollars. This means Movado is letting go of a brand it owned to focus on other businesses.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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