Movado Group Inc

movadogroup.com

What Do They Do?

Designs, sources, markets and distributes watches, jewelry and other fashion accessories under owned and licensed brands to retailers and consumers worldwide.

How Do They Make Money?

Retailers and distributors pay for wholesale watches and accessories when goods ship or arrive, depending on the agreement; consumers pay at outlet stores or when most online orders ship.

revenue

Segment	Share	Revenue	How money arrives
Watch and Accessory Brands Sold outright	85% FY2023: 85%		Sold outright
Company Stores Sold outright	15% FY2023: 15%		Sold outright

Who Are Their Customers?

Department stores, jewelry chains and independent jewelers buy through the company’s U.S. sales team; international retailers buy through its sales offices or independent distributors. Consumers buy through company websites and outlet stores.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2026 and turned 8 cents into free cash flow.

Operating income, FY2026

4% of revenue

▲ +49% vs FY2025 ($20M, 3%)

Net income, FY2026

4% of revenue

▲ +45% vs FY2025 ($18.4M, 3%)

Free cash flow, FY2026

8% of revenue

▲ Now profitable vs FY2025 (−$9.5M, −1%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q2 FY2027, the three months to Jul 31, 2026

Revenue: ▲ +5%; vs $161.8M in Q2 FY2026
Net income: ▲ +312%; vs $3M in Q2 FY2026

Watch and Accessory Brands share of revenue vs 83.8% in Q2 FY2026

Aug 26, 2026 Sets second-half fiscal 2027 sales and margin outlook It expects topline growth in the mid-single-digit range and gross margin of 55% to 56%, excluding additional duty refunds.
Apr 1, 2026 Extends the Calvin Klein watch license through 2029 The existing agreement was extended for an additional three years; other material provisions remain substantially unchanged.

Shrinking. Revenue fell 8% in 4 years, from $732.4M in FY2022 to $671.3M in FY2026, about 2% a year.

Adds Kate Spade New York watches The latest report adds Kate Spade New York to the licensed watch portfolio, with the first collection planned for spring; the older report lists the previous licensed brands.

Revenue over time

Watch and Accessory Brands Company Stores

$1B$500M$0

FY2022 FY2023 FY2024 FY2025 FY2026

Who Do They Compete With?

Competes with Swatch Group

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