Recent Updates — MOV

Movado Group has entered into a definitive agreement to sell a 95% interest in its EBEL luxury watch brand to a strategic buyer group led by Montres Journe SA, with participation from Chanel and Pierre Jacques. The transaction is valued at approximately $66.5 million, subject to customary closing adjustments. Movado will retain a 5% minority stake in the business. The deal is expected to close in the fourth quarter of fiscal 2026, pending satisfaction of standard conditions including a pre-closing reorganization and regulatory approvals. This divestiture allows Movado to focus on its core accessible luxury portfolio while placing EBEL under ownership with specialized expertise for long-term growth. Movado Group designs, sources, and distributes watches and jewelry under brands such as Movado, MVMT, Calvin Klein, and Coach.

Movado Group, Inc. entered into Amendment No. 7 to its Credit Agreement on July 16, 2026, extending the maturity of its senior secured revolving credit facility from October 28, 2026, to July 16, 2031. The amendment also reduces the facility's commitments from $100.0 million to $75.0 million, eliminates the 0.10% per annum SOFR adjustment, and increases interest rate margins by 0.10% per annum. Movado Group, Inc. is a global luxury watch and accessories brand manager that operates in the consumer goods industry.