Profile: Movado Group Inc (MOV)
19 Jul 2019
Movado Group, Inc., incorporated on November 2, 1967, designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. The Retail segment includes its retail outlet stores. It divides its business into two geographic locations: the United States operations and International, which includes the results of all other Company operations. It also has international operations in Europe, the Americas (excluding the United States), the Middle East and Asia. Its portfolio of brands includes Coach Watches, Concord, Ebel, ESQ Movado, Scuderia Ferrari Watches, HUGO BOSS Watches, Juicy Couture Watches, Lacoste Watches, Movado and Tommy Hilfiger Watches.
Concord watches have Swiss movements and are made with 18 karat gold, stainless steel or a combination of 18 karat gold and stainless steel. Some are set with diamonds. Ebel is a Swiss watch brand. All Ebel watches feature Swiss movements and are made with 18 karat yellow or rose gold, stainless steel or a combination of 18 karat yellow or rose gold, ceramic and, or stainless steel. Some are set with diamonds. The Movado brand includes Movado BOLD and Movado Edge watches. Certain Movado collections of watches, including Movado BOLD, have Swiss quartz analog movements. Many models feature gold or colored ion-plated finishes, and straps made of silicone or leather. Coach watches offer an assortment of timepieces for women and men, with a range of bracelets and straps constructed of stainless steel accented with gold tone finishes and leather straps.
The HUGO BOSS brand focuses on developing and marketing of fashion and accessories for men and women. Licensed products, such as watches and other accessories complement the apparel collections. Juicy Couture offers bold colors and graphics, flirty feminine designs and whimsical prints, across lifestyle categories. 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.
The Company sells all of its brands in the United States wholesale market primarily to a range of jewelry store chains, including Sterling, Inc. and Helzberg Diamonds Corp.; department stores, such as Macy's and Nordstrom, as well as independent jewelers. Internationally, the Company's brands are sold in department stores, jewelry chains and independent jewelers. In addition, the Company sells all of its brands through a network of independent distributors operating in various countries across the world.
As of January 31, 2017, the Company's subsidiary, Movado Retail Group, Inc., operated 40 outlet stores located in outlet centers across the United States. Movado Retail Group, Inc. sells discontinued models and factory seconds of all of the Company's watches.
The Company competes with Swatch Group, Ltd.
Movado Group Inc
650 From Rd Ste 375
PARAMUS NJ 07652-3551