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.
More on Financials
The Latest
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
Weekly QuizDec 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SurveysDec 10, 2025
Consumer Confidence Drops in November Inflations, tariffs, and politics—including the government shutdown—were among consumers’ top concerns last month.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
