Chanel and F.P. Journe Purchase 95% of Ebel for $66.5 Million
A consortium led by Montres Journe, together with Chanel and former De Bethune CEO Pierre Jacques, has acquired a 95 % stake in Ebel for US $66.5 million, leaving the remaining shares with the Movado Group. The partnership combines Chanel’s financial resources, François‑Paul Journe’s watchmaking expertise, and Jacques’s operational leadership, positioning the brand for a new phase after years of decline under previous owners. Ebel, once a dominant Swiss luxury watchmaker known for its iconic Sport Classique “wave” model launched in 1977, experienced growth in the 1980s before a series of missteps led to its sale in 1994 and subsequent ownership changes involving Investcorp, LVMH, and Movado. The recent transaction reduces Movado’s portfolio to its two remaining brands, Movado and Concord, while giving Ebel fresh strategic direction under the new consortium.
Buying Time Analysis: The acquisition gives Chanel a strong foothold in the luxury watch market by securing a historic brand, leveraging financial strength and watchmaking expertise to revitalize Ebel and expand its portfolio.
