Movado Group to Sell EBEL in $66.5 Million Asset Deal
The watchmaker said the sale will sharpen its focus on accessible luxury watches and jewelry while giving EBEL a dedicated ownership platform.
Movado Group, Inc. (MOV) agreed to sell its EBEL watch brand in an asset purchase for $66.5 million, a move that will let the company concentrate on its core accessible luxury and fashion watch and jewelry portfolio.
The transaction is expected to close in the next few months. The sale also provides EBEL with a new ownership platform positioned to support the brand’s long-term development.
Efraim Grinberg, chairman and chief executive officer, said EBEL is a prestigious brand with a rich heritage, known for its carefully curated collections, and that the company was pleased to have found partners that share its appreciation for the brand and have an exciting vision for its future.
The sale sits against a year in which Movado reported fiscal 2026 net sales of $671.3 million, up from $653.4 million in fiscal 2025, and ended the year with $230.5 million in cash and no debt. Operating income was $29.8 million, compared with $20.0 million a year earlier.
In the most recent fiscal year, total net sales grew 5.6% in the fourth quarter, leading to full-year growth of 2.7%. Diluted earnings per share were $1.17, versus $0.81 in fiscal 2025. Adjusted diluted earnings per share were $1.34.
The company has been trimming non-core items in parallel with that earnings recovery. It also recorded costs related to an investigation of allegations of misconduct within the Dubai branch of its Swiss subsidiary, which it flagged in both the third-quarter and full-year results.
Grinberg, in the third-quarter update, said the company capitalized on accelerating interest in the fashion watch category among younger consumers and delivered double-digit growth for the Movado brand in direct-to-consumer channels.
The EBEL sale is framed by Movado as a portfolio sharpening rather than a balance-sheet event: the company already finished fiscal 2026 with $230.5 million in cash and no debt.