What Moved Movado About MVMT

A lifestyle brand for millennial buyers with an eye for design - but perhaps not the pocketbook for designer prices - the watch and accessories startup MVMT started on its path in 2013 Five years in, a journey that started with a crowdfunding campaign has wound through 160 countries where the brand does business, garnered $71 million in sales last year and, as of a few weeks ago, landed an acquisition deal with the Movado Group that is worth $100 million to start, and could be worth as much as $200 million when all is said and done Lack of fundraising isn't the only way in which MVMT was an unusual startup.

Now Movado, a classic brand that is hoping to upgrade and update itself for the times, is tapping into the cachet and enthusiasm that MVMT has built "Jake and Kramer have built an incredible brand and business in just five years, and we are excited to have MVMT join Movado Group Today's announcement marks an important milestone for Movado Group," said Efraim Grinberg, Movado's chairman and chief executive officer.

"As we looked at the future for MVMT, we felt Movado Group was the perfect fit to continue our growth We share many of the same strategies as Movado Group, including a focus on unique design, product innovation and compelling value for the consumer, which aligns us on future plans for our brand," Kassan said "Movado Group has the expertise and resources to help expand MVMT to many untapped markets around the world". Source