Chanel and Montres Journe Acquire Ebel in $66.5 Million Deal

Chanel and Montres Journe SA have acquired a 95% stake in Ebel for $66.5 million, marking a significant change for the historic Swiss watchmaker. The deal, announced by Movado Group, sees the brand pass from its American owners to a consortium led by Montres Journe, with the participation of Chanel and industry veteran Pierre Jacques, who will take the role of CEO. Movado Group will retain a 5% interest in Ebel once the transaction closes, which is expected in the coming months.

Ebel, founded in 1911 in La Chaux-de-Fonds by Eugène Blum and Alice Lévy, was once among the largest Swiss watch manufacturers. The company thrived during the 1970s and 1980s under Pierre-Alain Blum, known for its chic quartz watches and the distinctive Wave bracelet of its Sport Classique model. Ebel produced watches for Cartier and was a major buyer of Zenith El Primero movements, with its chronographs worn by public figures such as Don Johnson in the 1980s television series Miami Vice. At its peak, the brand employed more than 500 people and generated nine-figure annual revenue.

After a series of ownership changes, first to Investcorp in 1994, then LVMH in 1999, and finally Movado in 2003, Ebel struggled to recapture its earlier prominence. Under Movado, the brand’s profile diminished, despite its legacy and collector interest in vintage models. The new ownership group aims to restore Ebel’s reputation and relevance, drawing on the combined expertise of independent watchmaker François-Paul Journe, the resources of Chanel, and Jacques’ experience at De Bethune.

Pierre Jacques, who previously led De Bethune for over a decade, will be responsible for Ebel’s next phase. François-Paul Journe said, “Ebel has always stood for exceptional product, and I am delighted to contribute to its next chapter alongside my friends and partners.” Frédéric Grangié, President of Chanel Fine Watches and Jewelry, called Ebel “one of the great names of Swiss watchmaking, with a rich heritage, a distinctive creative identity and a strong foundation for future growth,” and said the investment reflects Chanel’s confidence in Ebel’s long-term potential.

The deal includes the transfer of Ebel’s trademarks, intellectual property, inventory, and assets dedicated to the brand, as well as the Villa Turque, a modernist house by Le Corbusier in La Chaux-de-Fonds. Certain Movado employees working with Ebel will join a new Swiss subsidiary created for the brand. Movado says the transaction is subject to customary adjustments and will be completed in the next few months.

Chanel’s involvement in the Ebel acquisition is part of a broader strategy to expand its watchmaking presence. The French luxury group already holds stakes in F.P. Journe, Romain Gauthier, Bell & Ross, Kenissi, and other Swiss watchmaking firms. The group of investors expects to implement a strategic shift for Ebel, leveraging their backgrounds in independent and high-end watchmaking.

No details have been given on new product launches or changes to Ebel’s collections. With renewed attention from collectors and industry insiders, vintage Ebel watches have drawn interest, as seen in recent themed auctions. The magazine has also looked at Vivien Rattanasun’s timepiece collection.

The closing of the deal is anticipated within the next few months, at which point the new ownership will take control of Ebel’s operations and future direction.