Policies & IssuesMay 14, 2025
Here’s What Happened to Pope Francis’ RingBefore Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.
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
AuctionsMay 14, 2025
Custom Rolex Pulled From Sotheby’s SaleThe one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.
Lab-GrownMay 14, 2025
State of Diamonds: What’s Next for Lab-Grown Diamonds?While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeMay 14, 2025
Seattle Detectives Seek Public’s Help in Tiffany & Co. Robberies The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.
Weekly QuizMay 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsMay 14, 2025
Jeff Corey Elected Chair of JBT Board The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.
Policies & IssuesMay 14, 2025
Foundrae Donates $11K to Ethical MetalsmithsThe donation was the result of the brand’s annual Earth Day Ingot event.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
IndependentsMay 13, 2025
Eiseman Jewels’ Renovated Dallas Store Is Bigger and BetterLocated in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.
MajorsMay 13, 2025
DCA Announces New Learning Platform, Course UpdatesThe nonprofit has made updates to the content in its beginner and advanced jewelry sales courses.
MajorsMay 13, 2025
BIJC Launches New Education FundBIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.
TrendsMay 13, 2025
State of Jewelry Design: The Top 10 Jewelry Trends of the Past DecadeAs a nod to the theme of JCK Las Vegas 2025, “Decades,” National Jeweler took a look back at the top 10 jewelry trends of the past 10 years.
Lab-GrownMay 12, 2025
Lightbox to Go Dark by Summer, De Beers Says The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.
Policies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.
Events & AwardsMay 12, 2025
Jewelry By Picasso, Dalí on Display at Florida Art Museum “Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.
Events & AwardsMay 12, 2025
CASE Awards Now Accepting Entries For 2025The deadline to submit is June 16.
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal InvestigationMoti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s DayLichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.
SourcingMay 09, 2025
Gemfields Resumes Emerald Mining in ZambiaThe miner announced plans to recommence open-pit mining at Kagem.
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.
EditorsMay 08, 2025
5 ‘Superfine’ Met Gala Jewelry MomentsAssociate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.
Supplier BulletinMay 08, 2025
Instappraise Introduces Game-Changing Trifold Appraisal FormatSponsored by Instappraise
FinancialsMay 08, 2025
Brilliant Earth Notes an Uptick in Engagement Ring Sales in Q1CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.
IndependentsMay 08, 2025
Margot McKinney Lands in the U.S. With New BoutiqueThe brand’s first independent location outside of Australia has opened in Beverly Hills, California.
IndependentsMay 08, 2025
Verragio Announces New Regional Sales ManagerCathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.
FinancialsMay 07, 2025
Pandora Posts Strong Q1, Plans for TariffsThe company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.
ColumnistsMay 07, 2025
The Smart Lab: Building a Seasonal Marketing Strategy for Mother’s Day and BeyondConnecting with your customers throughout the year is key to a successful holiday marketing push.
