Movado Group, Inc.: agrees to sell 95% interest in EBEL for $66,500,000

What happened The filing says Movado Group, Inc. and its subsidiary Movado Group Nederland B.V. entered into a definitive agreement, effective Oct 5, 2026, to sell a 95% interest in the EBEL brand. The buyer group is led by Montres Journe SA, with participation by the luxury house Chanel and Mr. Pierre Jacques. Movado will retain a 5% interest. Consideration is expected to total approximately $66,500,000, subject to customary closing adjustments and closing conditions.

Key details

• Effective date of the agreement: Oct 5, 2026.
• Ownership split: 95% sold, 5% retained by Movado.
• Consideration expected: approximately $66,500,000, subject to customary closing adjustments.
• Expected close: 4th quarter of fiscal 2026, subject to satisfaction or waiver of customary closing conditions, including completion of a pre-closing reorganization.

Why it may matter This filing reports Item 8.01 — other events — which covers the agreement to sell a majority interest in the EBEL brand. A filing does not show why the insider traded or why the company acted.