CollectionsOct 10, 2025
Count Down to the Holidays With Astrid & Miyu’s Advent CalendarsThe trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.
WatchesAug 16, 2018
Movado Buys Millennial-Targeted Brand for $100M
MVMT Watches was started in 2013 by two 20-somethings and has grown into a $70 million a year business.
A group of men’s watches from MVMT, the Los Angeles-based brand just acquired by Movado Group. (Photo credit: @laya.gerlock)
Paramus, N.J.—Movado Group Inc. is set to acquire MVMT Watches Inc., a millennial-targeted watch and accessories company launched five years ago by two 20-somethings who dropped out of college to start a business.
Under the terms of the deal announced Wednesday, Movado will pay $100 million for the company initially, or approximately $85 million after taxes, and will make two future contingent payments that, combined, could total another $100 million. The exact amount of the second payment is contingent on MVMT’s financial performance under Movado’s ownership, with no minimum future payment required.
Movado said it is funding the acquisition through cash and borrowings under its revolving credit facility.
Southern California natives Jacob Kassan, now 27, and Kramer LaPlante, 26, started MVMT in Los Angeles in 2013 after initially raising $300,000 through two crowdfunding campaigns on Indiegogo.
The brand started by selling just watches before adding sunglasses and other accessories last year.
Although a few retailers in the United States like Nordstrom and Bloomingdales carry MVMT, the pair built their business primarily by selling online and targeting millennial consumers, with products that are “designed for the millennial consumer with the goal of changing the way the customer thinks about fashion by delivering high-quality watches and accessories at an affordable price,” Movado said in its announcement about the acquisition.
MVMT has a “world-class digital strategy,” Movado said, as well as high brand awareness on social media, with more than 4.5 million followers across its platforms.
The company’s revenue for its most recent fiscal year ended Dec. 31, 2017 totaled about $71 million, and their success at such a young age has landed Kassan and LaPlante features in numerous publications, including a spot on Forbes “30 Under 30” list.
The acquisition of MVMT gives Movado Group a “category-leading” millennial brand with exposure to younger consumers, a track record of sales growth and a strong digital presence, an area where Movado Group is investing and looking to grow.
For MVMT, being bought by Movado allows it benefit from the company’s global infrastructure and distribution network.
MVMT is the second millennial-targeted brand Movado has purchased. Last year, the Paramus, New Jersey-based watch company bought Olivia Burton, a U.K.-based watch and fashion jewelry brand.
“Today’s announcement marks an important milestone for Movado Group,” Chairman and CEO Efraim Grinberg said. “The acquisition of MVMT
will provide us greater access to millennials and advances our Digital Center of Excellence initiative with the addition of a powerful brand managed by a team of highly creative, passionate and talented individuals … We believe significant growth opportunity lies ahead for MVMT through category, channel and geographic expansion by leveraging our scale and infrastructure. I am looking forward to welcoming Jake and Kramer, along with their 40 employees, to our company.”
The transaction is subject to customary closing conditions and is expected to close on or about Oct. 1.
The transaction is subject to customary closing conditions and is expected to close on or about Oct. 1.
More on Watches
The Latest
CollectionsOct 10, 2025
Piece of the Week: Marla Aaron’s ‘Nymphenburg Lock’Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.
MajorsOct 10, 2025
Frederick Goldman Names New VP of SalesJewelry industry veteran Alisa Bunger has taken on the role.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
SourcingOct 09, 2025
Feriel Zerouki Is Leaving De Beers The company and industry leader’s two-decade tenure with De Beers will come to a close at the end of the month.
Weekly QuizOct 09, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsOct 09, 2025
This Fabergé Egg Could Crack $27M At Auction“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.
MajorsOct 09, 2025
Sy Kessler Buying Watch Batteries as Silver Hits Record High The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
CollectionsOct 09, 2025
Katkim Launches First Men’s CollectionThe line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.
SourcingOct 09, 2025
Gemfields’ Mini Mixed-Quality Ruby Auction Garners $11MThe rough on offer was recovered from a newer area at the Montepuez mine.
SourcingOct 08, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 08, 2025
Emily P. Wheeler Shifts Into Neutral for Latest ‘Ombré’ CollectionThe champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.
CollectionsOct 08, 2025
Tsuba Designs Inspire Monica Rich Kosann’s New CharmsKosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.
CrimeOct 07, 2025
Men Who Posed as Utility Workers Found Guilty in Jeweler’s MurderCarlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.
CollectionsOct 07, 2025
Jessica McCormack Looks to Sea Spirits for ‘Tempest’ CollectionThe brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.
SourcingOct 07, 2025
Columbia Gem House Announces ‘Opals for Outback Heroes’ FundraiserProceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.
MajorsOct 07, 2025
Stuller Names Its S.E.R.V.E Stars for 2025Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.
AuctionsOct 06, 2025
The ‘Rolex That Made Rolex’ Heads to Auction at Sotheby’s The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.
GradingOct 06, 2025
GIA India Names Former De Beers Exec as New Managing DirectorAmit Pratihari was previously the managing director of De Beers India and Forevermark India.
SourcingOct 06, 2025
SoCal 24 Karat Club Integrates Into Diamond Club West CoastMembers of the Jewelers 24 Karat Club of Southern California will gain access to expanded services, resources, and connections, DCWC said.
TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
