MOVADO GROUP Business Summary

Movado Group Inc. (MOV) operates a global multi-brand portfolio focused on the design, sourcing, and distribution of fine watches and accessories. The company generates revenue through two primary segments: Watch and Accessory Brands, which encompasses owned heritage labels like Movado, Concord, and Ebel alongside licensed fashion brands such as Coach, Tommy Hilfiger, and Calvin Klein; and Company Stores, which manages a network of retail outlets across the United States and Canada. Its business model increasingly prioritizes a high-margin direct-to-consumer (DTC) strategy, leveraging e-commerce platforms and the digital-native MVMT brand to capture younger demographics. Movado competes directly with Fossil Group, Swatch Group, and Citizen Watch (Bulova), positioning itself as a leader in the "accessible luxury" market by bridging the gap between mass-market fashion timepieces and high-end Swiss horology, specifically dominating the $500 to $1,500 price tier. The company was founded in 1961 by Gedalio "Gerry" Grinberg as the North American Watch Corp, establishing a legacy of Swiss-inspired design and family stewardship. Today, the leadership team is led by Chairman and CEO Efraim Grinberg, who has spearheaded the firm’s expansion into licensed brands and digital retail over a 40-year tenure. Key executives include Behzad Soltani, who serves as Executive Vice President, Commercial President, and CTO, bringing a pedigree in digital transformation from Keurig and Boxed, and Sallie A. DeMarsilis, the Executive Vice President and CFO. The Board of Directors features notable industry veterans such as Stephen Sadove, former Chairman and CEO of Saks Incorporated, and Peter A. Bridgman, former SVP at PepsiCo. Movado maintains a robust institutional investor base including BlackRock and Vanguard, while the Grinberg family retains a significant ownership stake, ensuring long-term strategic alignment.