Movado Group announced a binding agreement on October 8 to sell a 95% interest in EBEL for US$66.5 million to a group led by Montres Journe SA, with Chanel and Pierre Jacques participating. Movado would retain 5%, and Jacques would become EBEL’s chief executive following the transaction. The announcement expressly makes the deal subject to customary adjustments and closing conditions; it is not confirmation of a completed sale. The agreement brings a prominent independent-watchmaking company into EBEL’s proposed ownership structure, but does not establish any change to F.P.Journe’s own shareholding. The stated price concerns the corporate transaction, not the value of individual watches.