Profile: Movado Group Inc (MOV)
17 May 2013
Movado Group, Inc. (Movado Group), incorporated in 1967, designs, sources, markets and distributes fine watches. The Company’s portfolio of brands consists of Movado, Ebel, Concord, ESQ, Coach Watches, HUGO BOSS Watches, Juicy Couture Watches, Tommy Hilfiger Watches, Lacoste Watches and Ferrari Watches. The Company operates in two segments: Wholesale and Retail. The Company’s wholesale segment includes the design, development, sourcing, marketing and distribution of watches, in addition to after-sales service activities and shipping. The retail segment includes the Company’s outlet stores.The Company’s international operations are principally conducted in Europe, Asia, Canada, the Middle East, South America and the Caribbean. The Company’s international assets are principally located in Switzerland. On February 14, 2012, the Company closed its Movado brand flagship store located at Rockefeller Center in New York City.
The Company sells all of its brands in the United States wholesale market primarily to jewelry store chains, such as Helzberg Diamonds Corp., Sterling, Inc. and Zale Corporation, department stores, such as Macy’s, and Nordstrom, as well as independent jewelers. Internationally, the Company’s brands are sold in department stores, such as El Cortes Ingles in Spain and Galeries Lafayette in France, jewelry chain stores such as Christ in Switzerland and Germany and independent jewelers. Distribution of ESQ watches, which outside of the United States are sold only in Canada and the Caribbean, is handled by the Company’s Canadian subsidiary and Caribbean based sales teams. As of January 31, 2012, the Company operated 33 outlet stores located in outlet centers across the United States.
The Movado brand includes a line of watches, inspired by the Bauhaus movement, including the Movado Museum watch and a number of other watch collections with dial designs. The Movado brand also includes Series 800, a sport watch collection, which incorporates Movado quality and craftsmanship with the characteristics of a true sport watch. Movado watches have Swiss movements and are made with 14 or 18 karat gold, 18 karat gold finish, stainless steel or a combination of 18 karat gold finish and stainless steel.
The Ebel brand was established in La Chaux-de-Fonds, Switzerland. All Ebel watches feature Swiss movements and are made with solid 18 karat gold, stainless steel or a combination of 18 karat gold and stainless steel.
Concord is designed to be resolutely upscale with a modern, edgy point of view and has been repositioned as a luxury brand. Concord watches have Swiss movements and are made with solid 18 karat gold, stainless steel or a combination of 18 karat gold and stainless steel.
ESQ by Movado
The ESQ watches contain Swiss movements and are made with stainless steel, gold finish or a combination of stainless steel and gold finish. It also include leather straps, stainless steel bracelets or gold finish bracelets.
Coach Watches are an extension of the Coach leathergoods brand and reflect the Coach brand image. Coach watches are made with stainless steel, gold finish or a combination of stainless steel and gold finish with leather straps, stainless steel bracelets or gold finish bracelets.
Tommy Hilfiger Watches
Tommy Hilfiger watches feature quartz, digital or analog-digital movements, with stainless steel, titanium, aluminum, silver-tone, two-tone or gold-tone cases and bracelets, and leather, fabric, plastic or rubber straps. The line includes fashion and sport models.
HUGO BOSS Watches
The HUGO BOSS watch collection is an extension of the parent brand. It includes classy, sporty, elegant and fashion timepieces with different features.
Juicy Couture Timepieces
Juicy Couture is a powerhouse lifestyle brand, which delivers fashion for women, men and children. Juicy Couture timepieces reflect the brand’s clear vision, identity and brand position in the contemporary category, encompassing both trend-right and core styling contemporary watches.
The Lacoste watch collection embraces the Lacoste lifestyle proposition, which encompasses elegance, refinement and comfort. Mirroring key attributes of the Lacoste brand, the collection features stylish timepieces with a contemporary sport elegant feel.
The Company competes with Swatch Group, Ltd.
Movado Group Inc
Ste. 375, 650 From Road
PARAMUS NJ 07652-3556