FinancialsNov 07, 2025
Watches of Switzerland’s H1 Sales Up 8%FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury Watches
During its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
A set of Movado Connect 2.0 watches. Movado Group reported sales were up 3 percent in its third quarter.
Paramus, N.J.—Movado Group’s sales rose in its third quarter with the company noting improving trends in the fashion and accessible luxury watch categories.
“We capitalized on the accelerating interest in the fashion watch category among younger consumers, delivering innovative watch and jewelry assortments that were strongly received across our iconic brands, especially in Europe and the United States,” said CEO Efraim Grinberg on an earnings call Tuesday morning.
Grinberg said in a statement that he was happy with the company’s results, especially considering it has had to absorb tariff-related cost increases.
Those costs may soon be significantly reduced following the deal made between the U.S. and Switzerland to reduce the tariffs on Swiss-made watches to 15 percent from the 39 percent rate that has been in place since Aug. 1.
The retailer announced in April that it would raise prices on select timepieces to offset the impact of tariffs.
“This positive development will allow us to plan effectively for next year and reduce the level of price-based mitigation, benefiting both American consumers and the company,” said Grinberg.
On the call, Grinberg discussed the impact of tariffs, its marketing plans for the holiday season, and how its brands are performing.
In the third quarter ending Oct. 31, Movado’s net sales rose 3 percent year-over-year (1 percent on a constant dollar basis) to $186.1 million.
Movado attributed the rise to an increase in sales at its licensed brands and sales at its owned stores, though it was partially offset by a decrease in sales at its owned brands.
Grinberg said the company is optimistic about improving trends in the fashion and accessible luxury watch categories, driven by product innovation, like new shapes and sizes, as well as a growing interest from women and younger shoppers.
He also noted “strong momentum” in fashion jewelry, particularly as more men opt to wear jewelry.
The company’s brand portfolio includes Movado, Ebel, and Concord, as well as licensed brands like Coach and Tommy Hilfiger.
For the first nine months of the year, net sales were up 2 percent (1 percent on a constant dollar basis) to $479.7 million, which it attributed in part to an increase in sales at its licensed brands.
Third-quarter net sales in the U.S. were up 7 percent year-over-year, led by its fashion brands and its direct-to-consumer business.
International sales were up less than 1 percent in the quarter (down 3 percent on a constant dollar basis).
Year-to-date U.S. sales were up 2 percent while international sales were up 2 percent in the quarter (flat on a constant dollar basis).
Related stories will be right here …
“We capitalized on the accelerating interest in the fashion watch category among younger consumers, delivering innovative watch and jewelry assortments that were strongly received across our iconic brands, especially in Europe and the United States,” said CEO Efraim Grinberg on an earnings call Tuesday morning.
Grinberg said in a statement that he was happy with the company’s results, especially considering it has had to absorb tariff-related cost increases.
Those costs may soon be significantly reduced following the deal made between the U.S. and Switzerland to reduce the tariffs on Swiss-made watches to 15 percent from the 39 percent rate that has been in place since Aug. 1.
The retailer announced in April that it would raise prices on select timepieces to offset the impact of tariffs.
“This positive development will allow us to plan effectively for next year and reduce the level of price-based mitigation, benefiting both American consumers and the company,” said Grinberg.
On the call, Grinberg discussed the impact of tariffs, its marketing plans for the holiday season, and how its brands are performing.
In the third quarter ending Oct. 31, Movado’s net sales rose 3 percent year-over-year (1 percent on a constant dollar basis) to $186.1 million.
Movado attributed the rise to an increase in sales at its licensed brands and sales at its owned stores, though it was partially offset by a decrease in sales at its owned brands.
Grinberg said the company is optimistic about improving trends in the fashion and accessible luxury watch categories, driven by product innovation, like new shapes and sizes, as well as a growing interest from women and younger shoppers.
He also noted “strong momentum” in fashion jewelry, particularly as more men opt to wear jewelry.
The company’s brand portfolio includes Movado, Ebel, and Concord, as well as licensed brands like Coach and Tommy Hilfiger.
For the first nine months of the year, net sales were up 2 percent (1 percent on a constant dollar basis) to $479.7 million, which it attributed in part to an increase in sales at its licensed brands.
Third-quarter net sales in the U.S. were up 7 percent year-over-year, led by its fashion brands and its direct-to-consumer business.
International sales were up less than 1 percent in the quarter (down 3 percent on a constant dollar basis).
Year-to-date U.S. sales were up 2 percent while international sales were up 2 percent in the quarter (flat on a constant dollar basis).
Its namesake Movado brand is continuing with its refresh, revamping its in-store displays and visuals.
The Movado holiday campaign will feature its top collections, worn by its celebrity ambassadors, including Jessica Alba and Julianne Moore.
“Our holiday campaign is designed to deepen engagement between our products, ambassadors, and consumers while driving performance at the point of sale through enhanced displays, training, and retail partner support to ensure an elevated in-store experience,” said Grinberg.
Its “Museum” collection, particularly the bangles, have done especially well, said Grinberg, with a new style set with lab-grown diamonds available for the holiday season.
Overall, sales in Movado company stores were up 9 percent year-over-year with Movado brand sales up 18 percent.
Its licensed brands saw 6 percent sales growth (3 percent on a constant currency basis).
Its Gen Z shoppers have been drawn to its Coach brand, said Grinberg, which has seen double-digit growth, driven by its “Sammy” collection.
Hugo Boss also performed well, led by its “Sky Traveler,” “Grand Prix,” and “Principle” tank watches.
Grinberg added he’s excited about the potential in Hugo Boss’ jewelry for men.
The Tommy Hilfiger brand saw success with its “Oxford” watches, as well as its “Mia” collection for women, which it said has sold out in several markets.
Lacoste’s jewelry has also done well with its “Metropole” bracelet continuing to be a best-seller.
As for Calvin Klein, Grinberg said it’s “building leadership in women's watches, complemented by a strong jewelry offering.”
Olivia Burton posted growth in the U.S. and the U.K., led by the “Mini Grove” collection and bolstered by its “Mini to the Max” campaign.
“We're also encouraged by the renewed interest among younger consumers embracing analog watches for their design, innovation, quality, and value,” said Grinberg.
Looking at other financial metrics, gross profit in Q3 was $101.1 million, or 54 percent of net sales, compared with $96.6 million, or 54 percent of net sales, in the previous third quarter.
In the first nine months, gross profit was $260 million, or 54 percent of net sales, compared with $254.8 million, or 54 percent of net sales, in the same period last year.
The increases in gross margin percentage were primarily due to favorable changes in channel and product mix, which were partially offset by increased U.S. tariffs as well as the negative impact of fluctuations in foreign exchange rates.
As for the year ahead, Movado declined to provide financial guidance due to “the current economic uncertainty and the unpredictable impact of tariff developments” on its business.
“We're looking forward to a strong holiday season and to building on this momentum as we plan for the next year,’ said Grinberg.
Editors' Picks
Sponsored by
More on Financials
The Latest
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
Weekly QuizJun 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
