Movado

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Not to be confused with Mavado (disambiguation).
Movado Group
Type Public
Traded as NYSEMOV
Founded La Chaux-de-Fonds, Switzerland (1881)
Founders Achille Ditesheim
Gedalio Grinberg (1983)
Headquarters Paramus, New Jersey, United States
Key people Efraim Grinberg, Chairman and CEO
Products Watches
Revenue DecreaseUS$460,857,000 (2009)
Operating income DecreaseUS$3,288,000 (2009)
Net income DecreaseUS$2,552,000 (2009)
Total assets DecreaseUS$440,000,000 (2009)
Website movado.com

Movado is a luxury watch brand, whose name is Esperanto for "movement" (although the company's (incorrect) translation is "always in motion"). The brand's parent company, Movado Group, Inc., was founded in Switzerland in 1983 by Cuban-born Gedalio Grinberg. The company designs, manufactures, and distributes the following brands of watches: Movado, Ebel, Concord, ESQ Movado, Coach, Hugo Boss, Lacoste, Juicy Couture and Tommy Hilfiger.

History[edit]

Movado was originally founded in 1881 in La Chaux-de-Fonds, Switzerland by Achilles Ditesheim. In 1983, the company was purchased by Gedalio Grinberg, a Cuban-born Jew, who fled Fidel Castro's Marxist Revolution in 1960, with his family.

His son, Efraim Grinberg, is the current Chairman and Chief Executive Officer of Movado Group, Inc. The North American President of Movado and ESQ by Movado is Alan Chinich. In 2006, Movado celebrated its 125th year of watchmaking. On Feb 23, 1999, Movado Group, Inc. completed the sale of Piaget business to VLG North America, Inc., for approximately $ 30 million.[1]

Watches[edit]

The company is known for its iconic Museum Watch, designed by the American designer Nathan George Horwitt in 1947. It was originally manufactured by Vacheron & Constantin-Le Coultre Watches, Inc., Switzerland. Movado had started producing an unauthorized version starting in 1948, copying Horwitt's design. It was added to the permanent collection of the Museum of Modern Art in 1960. Movado finally settled with Horwitt in 1975 with a payment of $29,000. Following Horwitt's death, Movado started heavy promotion of Horwitt and the design of the Museum Watch.[2][2][3][4] Photographer Edward Steichen called Horwitt's design "the only truly original and beautiful one for such an object".

Some Movado watch models have Esperanto names such as Bela (beautiful), Belamodo (beautiful fashion), Fiero (pride), Brila (brilliant), Linio (line), and Verto.[5]

Sculpture[edit]

Movado commissioned "Time Sculpture" by architect Philip Johnson located outside Lincoln Center in New York City.[6]

References[edit]

External links[edit]