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
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
Weekly QuizJun 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
MajorsJun 24, 2026
CaratLane Names New Chief Sales OfficerDhaval Raja has been appointed to the role.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
SourcingJun 23, 2026
New Paraíba Tourmaline Source Reportedly Discovered in EthiopiaSSEF issued a notice about the potential new source of the sought-after gemstone, citing “credible reports” from trade sources.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
