FinancialsFeb 25, 2021
Retail Sales Growth in 2021 Depends on Vaccines, Says NRFFinancialsMar 26, 2021
Movado’s Full-Year Sales Sink 28%
The watchmaker remains hopeful ahead of the launch of its Calvin Klein line in 2022.
A set of Movado Connect 2.0 watches. The company’s net sales were down in both the fourth quarter and for the full year.
Paramus, N.J.—Movado Group saw sales sink by double digits in fiscal 2021, but the watchmaker has high hopes for the fiscal year ahead as it prepares for the launch of its Calvin Klein line.
Net sales in the fourth quarter were down 7 percent to $178.3 million compared with $191.0 million in the previous year’s fourth quarter.
Gross profit totaled $100.8 million, or 57 percent of net sales, compared with $100.6 million, or 53 percent of net sales, in the same period last year.
Though the COVID-19 situation in the United States is improving, store closures across Europe and in Latin America, particularly in Brazil and Mexico, are a challenge for the company, noted CEO Efraim Grinberg during an earnings call Thursday morning.
As with many retailers, a strong e-commerce performance has carried the company through rough waters.
“Notably, powerful innovation across our brands and actions to accelerate our digital center of excellence fueled strong results for our company-owned and third party e-commerce sites, including robust second-half sales growth at Movado.com,” said Grinberg in a press release announcing the results.
Movado’s e-commerce business more than doubled in the fourth quarter, up 110 percent, which Grinberg attributed to the launch of the Movado SE collection, the growth of its jewelry offerings, and continued demand for Movado Bold watches.
As for its wholesale channels, Movado saw growth in e-commerce and improvement in the overall brick- and-mortar performance.
Net sales in the fourth quarter were down 7 percent to $178.3 million compared with $191.0 million in the previous year’s fourth quarter.
Gross profit totaled $100.8 million, or 57 percent of net sales, compared with $100.6 million, or 53 percent of net sales, in the same period last year.
Though the COVID-19 situation in the United States is improving, store closures across Europe and in Latin America, particularly in Brazil and Mexico, are a challenge for the company, noted CEO Efraim Grinberg during an earnings call Thursday morning.
As with many retailers, a strong e-commerce performance has carried the company through rough waters.
“Notably, powerful innovation across our brands and actions to accelerate our digital center of excellence fueled strong results for our company-owned and third party e-commerce sites, including robust second-half sales growth at Movado.com,” said Grinberg in a press release announcing the results.
Movado’s e-commerce business more than doubled in the fourth quarter, up 110 percent, which Grinberg attributed to the launch of the Movado SE collection, the growth of its jewelry offerings, and continued demand for Movado Bold watches.
As for its wholesale channels, Movado saw growth in e-commerce and improvement in the overall brick- and-mortar performance.
Editors' Picks
Sponsored by
For the full year, Movado’s net sales were down 28 percent to $506.4 million compared with net sales of $701.0 million in fiscal 2020.
Full-year gross profit was $270.5 million, or 53 percent of net sales, compared with gross profit of $374.9 million, or 54 percent of net sales, in the prior year.
Grinberg said the company’s watch and jewelry offerings are seeing “favorable momentum” and noted the company has plans to capitalize on several growth opportunities this fiscal year.
Movado plans to launch its Calvin Klein watches and jewelry line in January 2022.
The company inked a five-year licensing agreement with Calvin Klein in August 2020 to create a new line of watches and jewelry.
Calvin Klein was looking for a new partnership after ending its 22-year licensing deal with Swatch Group. Movado proved a good fit, as it already partners with owner PVH Corp. to license the Tommy Hilfiger brand.
This spring, Movado will continue the rollout of its SE collection, bolstered by television ads in May and June in time for Mother’s Day, Father’s Day, and graduation season.
Movado noted its jewelry collection performed well in the days leading up to Valentine’s Day.
Its licensed brands, including Coach and Tommy Hilfiger, put on a solid performance, said Grinberg, with sales down less than 2 percent in the fourth quarter.
For the Tommy Hilfiger brand, its Mason for Him and Liberty for Her watches were especially popular while its jewelry collection did well online.
Television ads in France and Germany, two of its biggest markets, bolstered the Hugo Boss brand in Europe. The company has a Hugo Boss jewelry collection in the works.
Lacoste’s iconic collections were top performers and the brand is collaborating on a new collection with Polaroid.
Coach’s new offerings have been well-received, said Movado, while its MVMT brand trimmed down its offerings to improve profitability.
Olivia Burton’s brick-and-mortar sales suffered in its home market of the United Kingdom amid store closings, but its net online sales were up 20 percent in the fourth quarter.
Looking to the year ahead, Movado said it would not provide fiscal 2022 guidance, noting the “dynamic nature of the COVID-19 crisis.”
However, the company said it expects to see first-quarter net sales in the range of $110-$115 million, compared with net sales of $69.7 million in the previous first quarter.
Its board of directors also approved a $25 million share buyback program.
FinancialsFeb 01, 2021
Swatch Sales Fall 29% in 2020More on Financials
The Latest
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Weekly QuizAug 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
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.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
TrendsAug 07, 2026
Look Ahead with Syna’s Binoculars PendantThe “Star Gazer” pendant, our Piece of the Week, is Syna’s tribute to curiosity and the discovery of something new.
CrimeAug 06, 2026
Lalique Museum to Remain Closed Following $5M HeistMuseum officials are looking to the public to help cover the “exceptional” costs involved in recovering from the July 5 smash-and-grab.
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-ElectThe Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
MajorsAug 05, 2026
Bulgari Opens Store in San DiegoThe new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
