Movado Group Inc
Movado Group designs, sources, markets and distributes watches, jewelry and accessories under a mix of owned and licensed brands. Its portfolio spans Movado, Concord, Ebel, Olivia Burton and MVMT, plus licensed brands such as Coach, Tommy Hilfiger, Hugo Boss, Lacoste and Calvin Klein, sold through wholesale, e-commerce and company-operated outlet stores.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueDesign, sourcing, marketing and distribution of branded watches plus related accessories.
Outlet retail locations and online outlet channels selling current, discontinued and factory-second products.
Customers
Movado Group sells primarily to wholesale retail partners such as department stores, jewelry chains, independent jewelers and third-party e-commerce retailers, while also selling directly to consumers through its own websites and outlet stores. The company supports these customers with cooperative advertising, inventory monitoring and product mix guidance, which helps drive sell-through and launch new styles. Its customer base is split between U.S. and international markets, with international sales forming the majority of revenue.
Department stores, jewelry chains, independent jewelers and e-commerce retailers buy branded watches and accessories for resale and rely on Movado's merchandising and marketing support.
Consumers buy through brand websites and outlet stores for discounted, current and discontinued models, as well as accessories.
Independent distributors in many countries buy under long-term arrangements with minimum purchase and advertising commitments.
Shoppers at company-owned outlet centers buy factory seconds, discontinued models and value-priced inventory.
Strategy
The company is focused on brand building across a portfolio of owned and licensed watch labels, using differentiated design, advertising and digital marketing to drive consumer demand. It is also expanding direct-to-consumer reach through e-commerce and outlet channels while maintaining a broad wholesale network and international distributor base.
Watch demand is style-driven, so brand visibility and online reach support sell-through and pricing power.
Owned and licensed brands are the core commercial assets, and portfolio breadth reduces reliance on any single label.
Owned e-commerce and outlet stores improve consumer access, capture margin and help clear inventory.
Geography
Movado Group is globally distributed, with 57.4% of total sales coming from international markets and the remainder from the United States. Management discloses international sales across Europe, the Americas excluding the U.S., Asia and the Middle East, and notes that a large share of international assets sits in Swiss and Hong Kong subsidiaries. Currency translation and hedging are important because many international sales are billed in local currencies such as euros, pounds and Swiss francs.
Risks
Movado Group is exposed to discretionary spending cycles, fashion risk and intense competition from larger watch and jewelry brands. Because a majority of sales are international, foreign exchange movements, geopolitical conditions and supply-chain or IT disruptions can affect both demand and reported results. The company also faces execution risk in brand marketing, e-commerce and inventory management, where missteps can quickly pressure sell-through and margins.
- Weak consumer demand in key marketsImpact: HighLikelihood: Medium
Watches are discretionary purchases, so lower confidence, inflation or tighter credit can reduce sales.
Exposure: U.S. and international retail demand
- Cybersecurity and IT migration riskImpact: HighLikelihood: Medium
The company is migrating systems to the cloud and relies on ERP, order processing and e-commerce infrastructure.
Exposure: Global operations and online sales
- Foreign currency volatilityImpact: HighLikelihood: Low
International sales are billed in local currencies and translated into U.S. dollars, creating earnings volatility.
Exposure - Competitive pressureImpact: MediumLikelihood: Medium
The watch market is highly competitive and some rivals have greater financial and marketing resources.
Exposure: Owned and licensed watch brands
- Inventory and fashion-cycle riskImpact: MediumLikelihood: Medium
Style changes and demand shifts can lead to markdowns, returns and slower inventory turns.
Exposure: Wholesale and outlet channels
Accounting
Judgemental itemsWholesale promotions, markdowns and customer returns directly reduce net sales and require management estimates.
Impact: Affects reported revenue and gross margin
Fashion-driven products can become obsolete quickly, requiring markdown and obsolescence reserves.
Impact: Affects cost of sales and working capital
Watch warranties cover movement defects for two to three years, creating repair accruals.
Impact: Affects operating expenses and liabilities
Forward exchange contracts not designated as hedges are marked through earnings.
Impact: Can create quarter-to-quarter earnings volatility
Changes in foreign earnings mix can alter valuation allowances and effective tax rates.
Impact: Affects tax expense and net income
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Last updated: 24/09/2026