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.
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
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
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.
AuctionsDec 19, 2025
Jean Schlumberger’s ‘African Cat’ Is Purr-Fection Need a gift for the cat lover who has everything? Look no further than our latest Piece of the Week.
Weekly QuizDec 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
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.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
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.
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.
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.
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.”
