LVMH sells Ebel

LVMH, Moët Hennessy Louis Vuitton, the world’s leading luxury products group, has sold watchmaker Ebel to Movado Group Inc for 61.5 million CHF. This transaction is consistent with LVMH’s strategy to focus on leading brands across all areas of activity. As the world watch market shows signs of recovery, the LVMH Watch & Jewelry business group is focused around a portfolio of complementary brands: TAG Heuer, world leader in prestige sports watches; ZENITH, renowned throughout the world for its El Primero movement; and Dior Watches, featuring designs inspired by the Couture styles of the fashion house. Chaumet, the celebrated Paris jeweler on Place Vendôme, and Fred, renowned for its contemporary designs, will maintain the Group’s positions in jewelry watches. In addition, Louis Vuitton is successfully developing its range of watches produced by LVMH watch manufacturers. Philippe Pascal, President of the Watch & Jewelry business group, commented: “Initiatives completed over recent years have allowed the Ebel brand to become more up market, creative, elegant and feminine, notably thanks to the brand’s successful entry into the high-end jewelry market. We are convinced that Ebel has a bright future within Movado Group.”