How Movado Group Bounced Back

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Artman
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How Movado Group Bounced Back

Post by Artman » Mon Jun 03, 2019 7:39 pm

MGI lives in the watch market's toughest neighborhood. So how did it set record sales and profits last year?

By JOE THOMPSON, http://www.hodinkee.com

For the past several years, the Movado Group has been at the center of the storm. Since the arrival of the Apple Watch in April 2015, no segment of the global watch market has been buffeted like the fashion-watch business in the United States. That market is dominated by two giant, publicly traded U.S. watch groups, Fossil Inc., with 17 watch brands, and the Movado Group, with 11.

https://www.hodinkee.com/articles/how-m ... unced-back
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temerityb
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Re: How Movado Group Bounced Back

Post by temerityb » Sat Jun 08, 2019 7:58 am

Had no idea Movado had acquired MVMT. Wow; that's like Ruth's Chris serving Ballpark Franks.
“Jewelry isn’t really my thing, but I’ve always got my eye on people’s watches.” – Clive Owen
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JAS1125
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Re: How Movado Group Bounced Back

Post by JAS1125 » Sat Jun 08, 2019 4:18 pm

temerityb wrote:Had no idea Movado had acquired MVMT. Wow; that's like Ruth's Chris serving Ballpark Franks.


Yup
And the millennial founders got a nice piece of change
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Racer-X
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Re: How Movado Group Bounced Back

Post by Racer-X » Sat Jun 08, 2019 4:54 pm

Nothing about stealing the design that made them famous?

——-
Movado stole Nathan George Horwitt's design in the 50's and finally, in 1975, paid him $29,000 for what would become their signature watch.

It was apparently not until 1975 that Nathan George Horwitt and Movado settled what was apparently many years of negotiations and litigation. After all was said and done, Horwitt received a sum of just $29,000 from Movado to settle the law suit and apparently allow Movado to continue producing Museum dial watches. This continued into the 1980s, but it wasn't until after Horwitt's death in 1990 that Movado really started to produce the Museum Dial watch in large numbers. One must wonder, based on this fact, if Movado intentionally waited for Horwitt to no longer be around before really ramping up efforts with the successful Museum Dial watch design.


http://www.ablogtowatch.com/movado-museum-dial-classic-watch-history-horwitt/

Nathan George Horwitt
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