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
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
Weekly QuizOct 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
MajorsOct 29, 2026
Gesswein Hires Longtime Bench Jeweler, Educator Ann CahoonCahoon was appointed strategic account and educational program manager at Gesswein, which recently joined Continental Buying Group.
MajorsOct 29, 2026
Amanda Seyfried Stars In Tiffany & Co.’s Holiday CampaignTiffany & Co.’s latest ambassador makes her debut in its “Love Is a Gift” holiday campaign.
EditorsOct 28, 2026
These Wicked Jewels Will Cast a Spell on YouFor her annual Halloween story, Senior Editor Lenore Fedow highlights bewitching jewels fit for a witch that go from day to unholy night.
CrimeOct 28, 2026
Man In Florida Who Swallowed Tiffany & Co. Earrings ConvictedJaythan Gilder was found guilty of robbery and grand theft after stealing and then ingesting nearly $800,000 worth of Tiffany & Co. jewelry.
SurveysOct 28, 2026
Consumer Confidence Up in October as Gas Prices EaseConsumer confidence remains on the long-term downward trend that’s persisted over the past few years, said a Conference Board economist.
MajorsOct 28, 2026
Stuller’s Holiday Campaign Lets the ‘Magic of the Moment’ ShineThe holiday campaign includes key jewelry trends, a curated holiday gift guide, and resources to help jewelers prepare for holiday shoppers.
SourcingOct 27, 2026
De Beers Celebrates the Holidays With New ‘Desert Diamonds’ CampaignThe “Icons” holiday campaign spotlights four classic diamond jewelry styles reimagined in “Desert Diamond” tones.
IndependentsOct 27, 2026
Solomon Brothers Acquires Mervis Diamond ImportersSolomon Brothers, which has three stores in the Metro Atlanta area, said it may continue to acquire other independent jewelers.
