FRANCE. LVMH Moet Hennessy Louis Vuitton has sold watchmaker Ebel to Movado Group for CHF 61.5 million (US$48.9 million).
The French luxury group said the divestment was consistent with its focus on leading brands across all areas of activity.
LVMH said the world watches market is showing signs of recovery. It is now focused around a portfolio of complementary brands: Tag Heuer, Zenith, Dior, Chaumet and Fred. Additionally, a Louis Vuitton range is being successfully developed.
