Business Description

In this Form 10-K, all references to the “Company,” “Movado Group,” “we,” “us” or “our” include Movado Group, Inc. and its subsidiaries, unless the context requires otherwise. The Company’s common stock is traded on the NYSE under the trading symbol MOV. Movado Group designs, sources, markets and distributes quality watches globally. Its portfolio of watch brands is currently comprised of owned brands MOVADO ® , CONCORD ® , EBEL ® , OLIVIA BURTON ® and MVMT ® as well as licensed brands COACH ® , TOMMY HILFIGER ® , HUGO BOSS ® , LACOSTE ® , CALVIN KLEIN ® and KATE SPADE NEW YORK ® . The Company is a leader in the design, development, marketing and distribution of watch brands sold in almost every major category comprising the watch industry. The Company also designs, sources, markets and distributes jewelry and other accessories under most of its brands. The Company was incorporated in New York in 1967 under the name North American Watch Corporation to acquire Piaget Watch Corporation and Corum Watch Corporation, which had been, respectively, the exclusive importers and distributors of Piaget and Corum watches in the United States since the 1950’s. Since then, strategic acquisitions of watch brands and their subsequent growth, along with license agreements, have played an important role in the expansion of the Company’s brand portfolio. Over time, the Company has developed its brand-building reputation and approach across an expanding number of brands and geographic markets. In 1970, the Company acquired the Concord brand and the Swiss company that had been manufacturing Concord watches since 1908. In 1983, the Company acquired the U.S. distributor of Movado watches and substantially all of the assets related to the Movado brand from the Swiss manufacturer of Movado watches. The Company changed its name to Movado Group, Inc. in 1996. The Company sold its Piaget and Corum distribution businesses in 1999 and 2000, respectively, to focus on its own portfolio of brands. In March 2004, the Company completed its acquisition of EBEL, one of the world’s premier luxury watch brands which was established in La Chaux-de-Fonds, Switzerland in 1911. In July 2017, the Company completed its acquisition of Olivia Burton, which was one of the United Kingdom’s fastest-growing fashion watch and jewelry brands since its founding in 2011. In October 2018, the Company completed its acquisition of MVMT, which was founded in 2013, offering watches and accessories designed for the millennial consumer largely through a direct-to-consumer business model. The Company is highly selective in its licensing strategy and chooses to enter into long-term agreements with only powerful brands which it believes have strong positions in their respective businesses. The following table sets forth the brands licensed by the Company and the year in which the Company launched each licensed brand for watches. In addition, in July 2025 the Company signed a license agreement with Coach Services, Inc. pursuant to which the Company has the exclusive right to manufacture, market and distribute watches globally under the Kate Spade New York brand name, with the first collection planned to launch in the spring of 2027. Brand Licensor Calendar Year Launched COACH Tapestry, Inc. 1999 TOMMY HILFIGER Tommy Hilfiger Licensing LLC 2001 HUGO BOSS Hugo Boss Trade Mark Management GmbH & Co 2006 LACOSTE Lacoste S.A., Sporloisirs S.A. and Lacoste Alligator S.A. 2007 CALVIN KLEIN Calvin Klein, Inc. 2022 2 INDUSTRY OVERVIEW The largest markets for watches are North America, Europe, the Middle East, Latin America and Asia. The Company divides the watch market into five principal categories as set forth in the following table. Market Category Suggested Retail Price Range Primary Category of Movado Group, Inc. Brands Exclusive $10,000 and over — Luxury $1,300 to $9,900 Concord and EBEL Accessible Luxury $395 to $3,995 Movado Moderate and Fashion $75 to $595 Coach, Hugo Boss, Lacoste, Olivia Burton, MVMT, Tommy Hilfiger, Calvin Klein and Kate Spade New York Mass Market Less than $75 — Exclusive Watches Exclusive watches are usually made of precious metals, including 18 karat gold or platinum, and are often set with precious gems. These watches are primarily mechanical or quartz-analog watches. Mechanical watches keep time with intricate mechanical movements consisting of an arrangement of wheels, jewels and winding and regulating mechanisms.…