News Ebel watches have joined the Movado Group. The Biel based watch manufacturer, listed on the New York stock exchange, finalised the buyout of the La Chaux-de-Fonds manufactory from the world's number one producer of luxury goods Moët Hennessy Louis Vuitton (LVMH) at the beginning of March. This acquisition will have a positive effect on Movado's result from 2006, indicated the Movado Group. Ebel's integration will result in a cost of $0.10 to $0.20 per share until 31 January 2005.
So, after four years as part of the LVMH group, Ebel leaves the fold of the world's number one producer of luxury goods. In December, LVMH spurred on the sale - at a loss - by its desire to concentrate on its flagship brands in each of its sectors.
March 11, 2004
