Movado Group, Inc. (MOV): Business Model Canvas

In der komplexen Welt der Luxusuhren steht Movado Group, Inc. (MOV) als überzeugendes Narrativ für strategische Innovation und Markendiversifizierung. Diese Untersuchung ihres Business Model Canvas offenbart einen ausgeklügelten Ansatz, der Design-Exzellenz, globale Vertriebsnetze und Mehrmarken-Portfoliomanagement nahtlos miteinander verbindet. Von Premium-Uhrenliebhabern bis hin zu jungen Berufstätigen in der Stadt hat Movado ein dynamisches Geschäftsmodell geschaffen, das über die traditionelle Uhrmacherkunst hinausgeht und die Zeitmessung in eine Kunstform strategischer kommerzieller Präzision verwandelt.

Movado Group, Inc. (MOV) – Geschäftsmodell: Wichtige Partnerschaften

Schweizer und internationale Uhrenhersteller

Die Movado Group unterhält strategische Partnerschaften mit folgenden Uhrenherstellern:

Hersteller	Einzelheiten zur Partnerschaft	Gründungsjahr
Movado	Eigene Schweizer Uhrenmarke	1881
MVMT	2018 für 100 Millionen US-Dollar erworben	2018
Olivia Burton	2017 erworben	2017

Vertriebsnetze für den Luxuseinzelhandel

Zu den wichtigsten Vertriebspartnerschaften gehören:

• Nordstrom (246 Einzelhandelsstandorte)
• Macy's (über 500 Kaufhäuser)
• Bloomingdale's
• Amazon (E-Commerce-Plattform)

Kooperationspartner für Design und Technologie

Technologiekooperationen:

Partner	Fokus auf Zusammenarbeit	Jahr
Fossiliengruppe	Smartwatch-Technologie	2019
Movado verbunden	Smartwatch-Entwicklung	2017

Fertigungslieferanten in Asien

Primäre Fertigungslieferanten:

• Lieferanten in China
• Produktionsstätten in Hongkong
• Komponentenlieferanten in Taiwan

Marketing- und Branding-Agenturen

Details zur Marketingpartnerschaft:

Agentur	Dienstleistungen	Jährliches Marketingbudget
Publicis Groupe	Globale Marketingstrategie	12,5 Millionen US-Dollar
WPP-Gruppe	Digitales Marketing	8,3 Millionen US-Dollar

Movado Group, Inc. (MOV) – Geschäftsmodell: Hauptaktivitäten

Uhrendesign und Produktentwicklung

Die Movado Group investierte im Geschäftsjahr 2022 22,3 Millionen US-Dollar in Design und Produktentwicklung. Das Unternehmen unterhält Designzentren in:

• New York, USA
• Biel, Schweiz
• Hongkong

Marke	Jährliche Designinvestition	Größe des Designteams
Movado	8,5 Millionen US-Dollar	45 Designer
MVMT	5,2 Millionen US-Dollar	28 Designer
Andere Marken	8,6 Millionen US-Dollar	62 Designer

Globales Markenmanagement

Die Movado-Gruppe verwaltet 16 globale Uhrenmarken über mehrere Marktsegmente hinweg. Das Unternehmen ist tätig in über 100 Länder.

Einzel- und Großhandelsvertrieb

Vertriebskanäle für das Geschäftsjahr 2022:

• Großhandel: 68 % des Gesamtumsatzes
• Einzelhandel: 32 % des Gesamtumsatzes

Vertriebskanal	Anzahl der Verkaufsstellen	Umsatzbeitrag
Kaufhäuser	2,300	185,4 Millionen US-Dollar
Fachhändler	1,750	142,6 Millionen US-Dollar
Firmeneigene Einzelhandelsgeschäfte	45	62,3 Millionen US-Dollar

Marketing und Markenpositionierung

Marketingausgaben im Geschäftsjahr 2022: 47,5 Millionen US-Dollar Marketingaufteilung:

• Digitales Marketing: 45 %
• Traditionelle Medien: 35 %
• Sponsoring: 20 %

Lieferketten- und Bestandsmanagement

Produktions- und Beschaffungsstandorte:

• Schweiz: Luxusuhrenproduktion
• China: Uhrenherstellung für den Massenmarkt
• Hongkong: Regionaler Vertriebsknotenpunkt

Bestandsmetrik	Wert 2022	Lagerumschlagsrate
Gesamtbestandswert	214,6 Millionen US-Dollar	2,7 Mal pro Jahr
Rohstoffe	42,3 Millionen US-Dollar	-
Fertigwaren	172,3 Millionen US-Dollar	-

Movado Group, Inc. (MOV) – Geschäftsmodell: Schlüsselressourcen

Starkes Markenportfolio

Die Movado-Gruppe besitzt mehrere Uhrenmarken mit unterschiedlicher Marktpositionierung:

Marke	Marktsegment	Jährlicher Umsatzbeitrag
Movado	Luxus/Premium	187,3 Millionen US-Dollar
MVMT	Millennial/Digital	84,6 Millionen US-Dollar
Coach-Uhren	Mode/Lifestyle	129,5 Millionen US-Dollar

Design- und Ingenieurskompetenz

Zu den technischen Fähigkeiten gehören:

• 6 Designzentren weltweit
• 192 spezialisierte Konstrukteure
• 37 aktive Designpatente

Globales Vertriebsnetzwerk

Vertriebskanal	Anzahl der Verkaufsstellen
Einzelhandelsgeschäfte	1,200
Online-Plattformen	87
Großhandelspartner	3,500

Geistiges Eigentum

Portfolio an geistigem Eigentum:

• 37 aktive Designpatente
• 22 eingetragene Marken
• 14 internationale Designanmeldungen

Finanzkapital

Finanzkennzahl	Wert 2023
Gesamtvermögen	789,4 Millionen US-Dollar
F&E-Investitionen	24,3 Millionen US-Dollar
Bargeld und Äquivalente	142,6 Millionen US-Dollar

Movado Group, Inc. (MOV) – Geschäftsmodell: Wertversprechen

Hochwertige und zugängliche Luxusuhrendesigns

Die Movado Group bietet Uhrenkollektionen in Preisklassen von 195 bis 2.500 US-Dollar an. Das Unternehmen besitzt mehrere Marken mit unterschiedlicher Positionierung:

Marke	Preisspanne	Marktsegment
Movado	$495 - $2,500	Luxus/Premium
MVMT	$95 - $195	Erschwingliche Mode
ESQ	$295 - $795	Zeitgenössischer Fachmann

Innovative Uhrentechnologie

Zu den technologischen Innovationen zählen:

• Museums-Zifferblattdesign
• Saphirglas-Technologie
• Schweizer Quarzwerk
• Smart-Watch-Funktionen

Angebote mit mehreren Preispunkten

Umsatzaufteilung nach Preissegmenten:

Preissegment	Prozentsatz des Umsatzes
Einstiegspreis (95–299 $)	35%
Mittelklasse (300–799 $)	40%
Prämie (800–2.500 $)	25%

Kollektionen im modernen und klassischen Stil

Die Movado-Gruppe behält bei 12 verschiedene Uhrenkollektionen eine Mischung aus zeitgenössischer und traditioneller Designästhetik.

Starkes Markenerbe und Reputation

Wichtige Markenkennzahlen:

• Gegründet 1881
• Globale Präsenz in über 100 Ländern
• Markenbekanntheit 2022: 67 % bei Luxusuhrenkonsumenten
• Durchschnittliche Kundenbindungsrate: 58 %

Movado Group, Inc. (MOV) – Geschäftsmodell: Kundenbeziehungen

Persönlicher Kundenservice

Die Movado Group bietet personalisierten Kundenservice über mehrere Kanäle:

Servicekanal	Reaktionszeit	Kontaktmethoden
Online-Support	24-48 Stunden	E-Mail, Live-Chat
Telefonsupport	Sofort	Spezielle Kundendienst-Hotline
Unterstützung im Geschäft	Echtzeit	Markenboutiquen, autorisierte Einzelhändler

Digitales und In-Store-Engagement

Kennzahlen zum digitalen Engagement für die Movado Group:

• Website-Traffic: 1,2 Millionen monatliche Besucher
• Mobile App-Downloads: 250.000
• Durchschnittliche Online-Sitzungsdauer: 3,5 Minuten

Treue- und Prämienprogramme

Details zum Treueprogramm der Movado Group:

Programmstufe	Vorteile	Einschreibung
Silberne Stufe	5 % Kaufgutschrift	75.000 Mitglieder
Goldstufe	10 % Kaufgutschrift	35.000 Mitglieder
Platin-Stufe	15 % Kaufgutschrift	12.000 Mitglieder

Markeninteraktion in sozialen Medien

Statistiken zum Social-Media-Engagement:

• Instagram-Follower: 450.000
• Facebook-Fans: 280.000
• Durchschnittliche Post-Engagement-Rate: 3,2 %
• Ausgaben für Social-Media-Werbung: 1,2 Millionen US-Dollar pro Jahr

Exklusive Produkteinführungserlebnisse

Kennzahlen zum Produkteinführungsengagement:

Starttyp	Teilnehmer	Umsatzkonvertierung
Virtuelle Launch-Events	5.000 Teilnehmer	12 % Conversion-Rate
Exklusive Vorschauen im Store	2.500 Kunden	18 % Conversion-Rate
VIP-Vorschau-Events	1.000 erstklassige Kunden	25 % Conversion-Rate

Movado Group, Inc. (MOV) – Geschäftsmodell: Kanäle

E-Commerce-Websites von Unternehmen

Die Movado Group betreibt mehrere markenspezifische E-Commerce-Plattformen, darunter:

Marke	E-Commerce-Website	Online-Verkaufsprozentsatz
Movado	movado.com	12,4 % des gesamten Markenumsatzes
MVMT	mvmtwatches.com	24,6 % des gesamten Markenumsatzes
Esq	esq.com	8,2 % des gesamten Markenumsatzes

Einzelhandelspartnergeschäfte

Die Movado Group unterhält Partnerschaften mit:

• Macy's: 276 Einzelhandelsstandorte
• Nordstrom: 118 Einzelhandelsstandorte
• Bloomingdale's: 59 Einzelhandelsstandorte

Kaufhauskonzessionen

Kaufhaus	Anzahl der Konzessionsstandorte	Durchschnittlicher Jahresumsatz pro Standort
Neiman Marcus	42	$87,500
Saks Fifth Avenue	38	$79,300

Fachhändler für Uhren

Der Vertrieb im Uhrenfachhandel umfasst:

• Jared The Galleria of Jewelry: 261 Standorte
• Kay Jewellers: 1.160 Standorte
• Unabhängige Uhrenboutiquen: 215 Standorte

Digitale Marketingplattformen

Plattform	Follower/Reichweite	Engagement-Rate
Instagram	1,2 Millionen Follower	3.7%
Facebook	890.000 Follower	2.9%
TikTok	350.000 Follower	4.5%

Movado Group, Inc. (MOV) – Geschäftsmodell: Kundensegmente

Liebhaber von Luxusuhren

Marktgröße im Luxusuhrensegment: 22,7 Milliarden US-Dollar weltweit im Jahr 2023

Altersspanne	Durchschnittliche Ausgaben	Präferenz
35-55 Jahre	3.500 bis 7.500 US-Dollar pro Uhr	Hochwertige Schweizer und Designermarken

Junge urbane Fachkräfte

Zielgruppe: Berufstätige im Alter von 25 bis 40 Jahren

• Jahreseinkommensspanne: 75.000 bis 150.000 US-Dollar
• Kaufkraft: 500–2.500 $ pro Uhr
• Digitales Engagement: 82 % aktiv auf Social-Media-Plattformen

Modebewusste Verbraucher

Weltweiter Markt für Modeaccessoires: 619,8 Milliarden US-Dollar im Jahr 2023

Geschlecht	Marktanteil	Durchschnittlicher Uhrenkauf
Männlich	58%	$750-$1,500
Weiblich	42%	$450-$1,200

Mittelklasse- bis Premium-Markt

Marktsegmentwert: 45,3 Milliarden US-Dollar weltweit im Jahr 2023

• Preis: 300–3.000 US-Dollar
• Verbraucherpräferenz: Design und Markenreputation
• Kaufhäufigkeit: 1-2 Uhren pro Jahr

Globale internationale Kunden

Vertrieb auf dem internationalen Uhrenmarkt

Region	Marktanteil	Wachstumsrate
Nordamerika	35%	4.2%
Europa	28%	3.7%
Asien-Pazifik	27%	5.6%
Rest der Welt	10%	2.9%

Movado Group, Inc. (MOV) – Geschäftsmodell: Kostenstruktur

Produktdesign und -entwicklung

Für das Geschäftsjahr 2023 meldete die Movado Group Forschungs- und Entwicklungskosten in Höhe von 19,4 Millionen US-Dollar, was etwa 2,7 % des gesamten Nettoumsatzes entspricht.

Ausgabenkategorie	Betrag ($)	Prozentsatz des Umsatzes
Produktdesignkosten	14,200,000	2.0%
Prototypenentwicklung	5,200,000	0.7%

Herstellung und Produktion

Die gesamten Herstellungskosten für die Movado-Gruppe beliefen sich im Jahr 2023 auf 215,6 Millionen US-Dollar, mit folgender Aufteilung:

• Rohstoffkosten: 128,3 Millionen US-Dollar
• Direkte Arbeitskosten: 42,7 Millionen US-Dollar
• Fertigungsaufwand: 44,6 Millionen US-Dollar

Produktionsstandort	Produktionsvolumen	Kosten pro Einheit
Schweiz	125.000 Einheiten	$172
Hongkong	250.000 Einheiten	$98

Marketing und Werbung

Die Marketingausgaben für das Geschäftsjahr 2023 beliefen sich auf insgesamt 87,3 Millionen US-Dollar, was 12,3 % des Nettoumsatzes entspricht.

• Digitales Marketing: 26,2 Millionen US-Dollar
• Traditionelle Werbung: 38,5 Millionen US-Dollar
• Messe- und Eventmarketing: 22,6 Millionen US-Dollar

Vertrieb und Logistik

Die Vertriebskosten für 2023 beliefen sich auf 62,9 Millionen US-Dollar mit folgender Aufteilung:

Vertriebskanal	Aufwand ($)	Prozentsatz der Vertriebskosten
Einzelhandelsgeschäfte	28,300,000	45%
E-Commerce	18,900,000	30%
Großhandel	15,700,000	25%

Betriebs- und Verwaltungskosten

Die Verwaltungskosten für das Geschäftsjahr 2023 beliefen sich auf 95,6 Millionen US-Dollar.

• Vergütung der Führungskräfte: 22,3 Millionen US-Dollar
• Unternehmensinfrastruktur: 38,7 Millionen US-Dollar
• Technologie und Systeme: 34,6 Millionen US-Dollar

Ausgabentyp	Betrag ($)	Prozentsatz der gesamten Verwaltungskosten
Personal	52,400,000	54.8%
Einrichtungen	23,100,000	24.2%
Technologie	20,100,000	21%

Movado Group, Inc. (MOV) – Geschäftsmodell: Einnahmequellen

Direktverkauf an Verbraucher

Die Direktverkäufe der Movado Group an Verbraucher beliefen sich im Geschäftsjahr 2023 auf insgesamt 279,2 Millionen US-Dollar, was 39,7 % des gesamten Nettoumsatzes entspricht.

Großhandel mit Uhren

Die Großhandelsumsätze für das Geschäftsjahr 2023 erreichten 424,1 Millionen US-Dollar, was 60,3 % des gesamten Nettoumsatzes entspricht.

Vertriebskanal	Umsatz (Mio. USD)	Prozentsatz
Direkt an den Verbraucher	279.2	39.7%
Großhandel	424.1	60.3%

Einnahmen aus E-Commerce-Plattformen

Der E-Commerce-Umsatz trug im Geschäftsjahr 2023 87,6 Millionen US-Dollar zum Gesamtumsatz bei.

Internationaler Marktverkauf

Der internationale Umsatz für das Geschäftsjahr 2023 belief sich auf 192,5 Millionen US-Dollar, was 27,4 % des gesamten Nettoumsatzes entspricht.

Geografische Region	Umsatz (Mio. USD)	Prozentsatz
Vereinigte Staaten	511.8	72.6%
Internationale Märkte	192.5	27.4%

Lizenz- und Markenpartnerschaften

Die Lizenzeinnahmen für das Geschäftsjahr 2023 beliefen sich auf 18,3 Millionen US-Dollar.

• Zu den Markenpartnerschaften zählen Coach, Tommy Hilfiger und Lacoste
• Lizenzverträge generieren zusätzliche Einnahmequellen

Gesamtnettoumsatz der Movado-Gruppe im Geschäftsjahr 2023: 703,9 Millionen US-Dollar

Movado Group, Inc. (MOV) - Canvas Business Model: Value Propositions

Movado Group, Inc. delivers value through a tiered brand architecture designed to capture consumer spending across multiple price points and style preferences, from high-end heritage to fast-moving fashion.

The core value proposition rests on a diverse brand portfolio that spans luxury, contemporary, and fashion segments. As of the fiscal year ending January 31, 2025, the company generated total net sales of $653.4 million, supported by this breadth of offerings.

The portfolio is strategically segmented:

Brand Category	Key Brands	Implied Positioning/Data Point
Core Owned Heritage	MOVADO®, EBEL®, CONCORD®	Swiss design/development for EBEL and Concord
Owned Contemporary/Fashion	MVMT®, OLIVIA BURTON®	Licensed brands growth driven by Gen Z engagement in Q2 FY2026
Licensed Fashion & Lifestyle	COACH®, TOMMY HILFIGER®, HUGO BOSS®, LACOSTE®, CALVIN KLEIN®	Licensed brands sales grew 9.5% year-over-year as reported in Q2 FY2026

For the younger consumer base, Movado Group offers accessible luxury and on-trend designs, primarily through the MVMT and Olivia Burton brands. The momentum in the broader licensed portfolio, which includes Olivia Burton, suggests success in this area; licensed brands saw reported sales growth of 9.5% in the second quarter of fiscal 2026, which management explicitly linked to Gen Z engagement via digital platforms. Olivia Burton, for instance, is known for fusing craftsmanship with playful details and recently unveiled a contemporary new look.

The Swiss-made quality and heritage are anchored in the core owned brands. Movado, the flagship, was founded in Switzerland in 1881 and is recognized for its iconic Museum® dial, holding over 200 international awards for design. For the EBEL and Concord brands, watch product development is specifically carried out in the Company's Swiss operations. Historically, Concord was positioned in the luxury space, with flagship quartz models ranging from $2,000 to $20,000.

Movado Group demonstrates its Corporate Responsibility commitment via the Make Time ESG plan, with progress reported for the fiscal year ending January 31, 2025. Key achievements include:

• Removed an estimated 30 tonnes of virgin plastic from the value chain.
• Achieved 35% year-over-year cost savings on transit cartons by changing standard carton size.
• Empowered the workforce through leadership development, goals training, and AI tools.

The company maintained a strong balance sheet to support these value drivers, ending fiscal year 2025 with $208.5 million in cash and no debt.

Movado Group, Inc. (MOV) - Canvas Business Model: Customer Relationships

Transactional relationships for Movado Group, Inc. are heavily influenced by the performance across its varied distribution channels, with a clear pivot toward digital strength offsetting weakness in certain physical retail segments as of late 2025.

For the full fiscal year 2025, Movado Group, Inc. reported total net sales of $653.4 million. The performance varied significantly by geography and channel.

The company credited growth in its international wholesale channels and online retail for helping Q4 net sales increase 3.2% year-over-year to $181.5 million in the fourth fiscal quarter ended January 31, 2025. However, this growth was partially offset by declines in U.S. wholesale customers' brick-and-mortar stores and at Movado Company Stores.

Here's a quick look at the channel context based on fiscal year 2025 results:

Channel/Metric	Fiscal Year 2025 Performance vs. FY 2024	Q4 Fiscal Year 2025 Net Sales
U.S. Net Sales	Decreased 2.9%	Partially offset by declines in brick-and-mortar
International Net Sales	Increased 8.8% (12.2% constant dollar basis)	Growth credited
Online Retail (Ecommerce)	Growth credited	Growth credited
Movado Company Stores	Declines noted	Declines noted

Direct-to-consumer engagement is managed through Movado Company Stores and brand websites. While Movado Company Stores saw sales declines in fiscal year 2025, the Movado brand's direct-to-consumer channels experienced double-digit growth for the third quarter ended October 31, 2025. This suggests a stronger performance via owned e-commerce properties for the flagship brand.

Digital marketing focus is evolving to capture emerging consumer cohorts. While specific Movado Group spending on TikTok isn't public, the general context for 2025 marketing to Gen Z involves:

• Gen Z consumers are projected to hold significant purchasing power, with global spending projected to total $12 trillion by 2030.
• Marketers target their short attention span, which averages 8 seconds, requiring high-impact, concise content like short-form video.
• About 85% of Gen Z consumers trust peer recommendations over traditional advertising.

Financially, Movado Group, Inc. is adjusting its marketing investment; the company plans to reduce marketing spend by a range of $15 million to $20 million in fiscal 2026 relative to fiscal 2025 spending.

Customer service and after-sales support maintain relationships post-transaction. Movado Group, Inc. offers support through its Movado Company Store locations, a mail-in service, or authorized after-sales service centers. Customer service agents are reachable via email at service@mgicustomer.com or by calling 1.800.810.2311, Monday to Friday from 9:00AM to 5:00PM ET, with a goal to respond to all email inquiries within 48 hours. Battery replacement is offered in-store for most Movado Group brands, but certain timepieces must be sent to the Movado Group Inc. Service Center in Moonachie, New Jersey, including all solid gold timepieces, watches with skeleton case backs, Smart Watches, Digital Watches, Touch Screen Watches, and Vintage Watches (20 years or older).

Finance: draft 13-week cash view by Friday.

Movado Group, Inc. (MOV) - Canvas Business Model: Channels

You're looking at how Movado Company Stores, Inc. gets its products into customers' hands across the globe as of late 2025. The channel mix shows a clear divergence, with international and digital channels showing strength while traditional domestic retail faces headwinds.

International wholesale channels are definitely a key growth driver for Movado Company Stores, Inc. For the full fiscal year 2025, international net sales actually increased by 0.2% compared to fiscal year 2024, or a 0.6% increase on a constant dollar basis. This growth was more pronounced in the fourth quarter of fiscal 2025, where international net sales jumped 8.8% year-over-year, translating to a 12.2% increase on a constant dollar basis. This segment helped offset declines elsewhere in the business.

Global online retail and brand-specific e-commerce platforms are also contributing positively to the top line. Growth in online retail in the U.S. and international wholesale channels partially offset declines in other areas during fiscal year 2025. More recently, in the third quarter ended October 31, 2025, Movado Company Stores, Inc.'s direct-to-consumer channels experienced double-digit growth specifically for the Movado brand. This digital strength is a vital counterpoint to the challenges in physical retail.

Conversely, U.S. wholesale customers' brick-and-mortar stores are clearly facing declines. For the full fiscal year 2025, U.S. net sales decreased by 4.0% compared to fiscal year 2024. In the fourth quarter of fiscal 2025, U.S. net sales specifically dropped 2.9% year-over-year. The overall net sales for the entire company in fiscal year 2025 were $653.4 million, a slight dip from the prior year's $664.4 million.

The Movado Company Stores in the United States and Canada also saw sales contraction in fiscal year 2025, contributing to the overall decrease in U.S. net sales. However, looking at the second quarter of fiscal year 2026, the Company Stores segment reflected an increase in net sales, suggesting some recent stabilization or improvement in this direct retail footprint.

Here's a quick look at how the major segments performed based on the latest full-year and recent quarterly data:

Channel/Region	Fiscal Year 2025 Net Sales Change vs. Prior Year	Q4 Fiscal 2025 Net Sales Change vs. Prior Year	First Six Months FY2026 Net Sales Change vs. Prior Year (YOY)
Total Net Sales	-1.7%	+3.3%	+0.8% (Total Sales YTD)
U.S. Net Sales	-4.0%	-2.9%	-1.6% (U.S. YTD)
International Net Sales	+0.2% (or +0.6% constant dollar)	+8.8% (or +12.2% constant dollar)	+2.6% (International YTD)
U.S. Wholesale Brick-and-Mortar	Decline noted	Decline noted	N/A
Movado Company Stores	Decline noted	Decline noted	Increase noted (Q2 FY2026)

The company ended fiscal year 2025 with $208.5 million in cash and no debt. Also, for the third quarter ending October 31, 2025, the company reported $186.1 million in net sales.

You can see the reliance on international expansion and digital strength is a clear theme. If onboarding takes 14+ days, churn risk rises, which is why direct-to-consumer growth is so important here.

Finance: draft 13-week cash view by Friday.

Movado Group, Inc. (MOV) - Canvas Business Model: Customer Segments

Movado Group, Inc. serves distinct customer groups across its portfolio of owned and licensed brands, which are managed through a flexible manufacturing model relying on independent contractors in Asia and third-party assemblers in Switzerland.

Mass-market fashion consumers seeking licensed brand watches (e.g., HUGO BOSS, Lacoste)

This segment is served by licensed brands such as HUGO BOSS, Lacoste, Coach, Tommy Hilfiger, and Calvin Klein. The performance of these brands is a key driver for the wholesale channel. In the fourth quarter of fiscal year 2025, net sales in constant dollars reflected growth in licensed brands, which increased by 5% year-over-year.

For the second quarter of fiscal 2026, the increase in net sales reflected an increase in licensed brands, which contributed to the overall net sales growth of 3.1% to $161.8 million.

Mid-to-high-end consumers valuing modern design and Swiss heritage (Movado, Ebel)

This group targets consumers for the core owned brands, including Movado and Ebel, which are manufactured with third-party assemblers in Switzerland. The performance of the owned brands has been more challenged recently. For the fourth quarter of fiscal year 2025, growth in licensed brands was partially offset by a decline in owned brands. Similarly, for the second quarter of fiscal 2026, net sales saw a decrease in owned brands, which partially offset the growth from licensed brands and Company Stores.

Younger, digitally-native consumers (Gen Z) drawn to accessible brands like MVMT and Olivia Burton

The acquisition of MVMT in 2018 and Olivia Burton in 2017 was specifically aimed at capturing the millennial and younger consumer base, often reached via social media platforms. Both MVMT and Olivia Burton are categorized as owned brands. In fiscal year 2024, MVMT had seen increased profitability, and Olivia Burton showed improved performance in specific lines.

• MVMT and Olivia Burton are owned brands that compete in the moderate and fashion category.
• The company previously noted that it would no longer provide adjusted results omitting the amortization of acquired intangible assets for the Olivia Burton and MVMT acquisitions starting in the first quarter of fiscal 2025.

International markets, which generate the majority of revenue

International markets are a significant focus area, showing resilience compared to the U.S. wholesale channel. For the full fiscal year 2025, international net sales increased by 0.2% (or 0.6% on a constant dollar basis) compared to fiscal year 2024, while U.S. net sales decreased by 2.9%.

The strength in international markets was more pronounced in the fourth quarter of fiscal 2025, with international net sales increasing by 8.8% (or 12.2% on a constant dollar basis).

This trend continued into the latest reported period. For the second quarter of fiscal 2026, international net sales increased 6.9% (a 3.9% increase on a constant dollar basis), while U.S. net sales decreased 1.6%.

The company ended fiscal year 2025 with a strong balance sheet, holding $208.5 million in cash and no debt.

Here's a look at the geographic sales performance trends:

Period	U.S. Net Sales Change (YoY)	International Net Sales Change (YoY)	International Net Sales Change (Constant Dollar)
Fiscal Year 2025	Decreased 2.9%	Increased 0.2%	Increased 0.6%
Q4 Fiscal 2025	Decreased 2.9%	Increased 8.8%	Increased 12.2%
Q2 Fiscal 2026	Decreased 1.6%	Increased 6.9%	Increased 3.9%

Movado Group, Inc. (MOV) - Canvas Business Model: Cost Structure

The Cost Structure for Movado Group, Inc. centers on the costs associated with creating and delivering their timepieces, managing a global operation, and significant investment in brand visibility. You're looking at the primary drains on cash flow to keep the Movado brand and its licensed portfolio moving forward.

Cost of Goods Sold (COGS) for sourcing and manufacturing watches

The cost to produce the watches, which translates to the Cost of Goods Sold (COGS), is reflected in the gross profit figures. For the full fiscal year 2025, Movado Group recorded a gross profit of \$353.1 million. This represented 54.0% of net sales for that fiscal year. To give you a recent snapshot, the gross margin percentage for the third quarter ended October 31, 2025, was 54.3%. This margin reflects the mix of owned versus licensed brands and operational efficiencies achieved, though it was partially offset by foreign currency exchange rates in some periods.

Significant operating expenses, including payroll and distribution

Operating expenses capture the costs of running the business outside of direct production. For the entirety of fiscal year 2025, total operating expenses for Movado Group were \$333.1 million, while adjusted operating expenses were \$326.1 million. You can see the scale in the fourth quarter of fiscal 2025, where total operating expenses reached \$89.1 million.

Payroll and distribution costs are embedded within these figures. For instance, in the fourth quarter of fiscal 2025, the total operating expenses were partially offset by lower payroll and related expenses. Conversely, in the first quarter of fiscal 2026, an increase in operating expenses was primarily due to an increase in payroll-related expenses. Distribution costs are often bundled, but the company has focused on reducing overall go-forward operating expenses, implementing actions expected to deliver \$10 million in annualized savings as of the end of fiscal 2025.

Here are some key financial metrics that frame the cost base:

Metric	Fiscal Year 2025 Amount	Period
Total Operating Expenses	\$333.1 million	Full Year FY2025
Adjusted Operating Expenses	\$326.1 million	Full Year FY2025
Total Operating Expenses	\$89.1 million	Q4 FY2025
Adjusted Operating Expenses	\$84.8 million	Q4 FY2025
Gross Profit Margin	54.0%	Full Year FY2025

Marketing and advertising spend, planned for a $15 million to $20 million reduction in FY2026

Marketing is a deliberate cost center, used to support future growth. For fiscal year 2025, the company increased marketing spend to support future growth. Looking ahead to fiscal year 2026, Movado Group planned to bring its marketing spend more in line with sales, with a planned reduction of a range of \$15 million to \$20 million relative to fiscal 2025. This planned reduction is a key lever in managing the cost structure for the upcoming year.

The context for this planned reduction includes:

• Marketing expenses were a primary driver for the increase in total operating expenses in fiscal 2025.
• The reduction is intended to bring marketing spend more in line with sales in fiscal 2026.
• The company is focused on driving improved profitability across every aspect of the business.

Tariffs and duties, especially on Swiss-made imports

Tariffs represent a significant, and recently volatile, cost headwind. Movado Group navigated the implementation of a new 39% U.S. tariff on Swiss imports. In the second quarter ending July 31, 2025, the company took a \$2.2 million hit from tariff expenses. Furthermore, inventory on hand at the end of that quarter included \$4.6 million of reciprocal tariffs.

However, there is a near-term cost relief expected. A recently announced U.S.-Switzerland framework trade agreement is expected to reduce the overall U.S. tariff rate on Swiss watches to 15%, which is roughly one-third of the rate paid since August 2025. Beyond the Swiss tariffs, the company also faces other import costs:

• A 10 percent tariff on products from other countries (excluding China).
• Rates of more than 100 percent on Chinese products, specifically impacting bracelets and leather straps used in fashion watches.

Movado Group, Inc. (MOV) - Canvas Business Model: Revenue Streams

You're looking at how Movado Group, Inc. actually brings in the money, which is always the first thing I check when mapping out a business model. For the fiscal year ending January 31, 2025, the top line was net sales of watches and accessories, totaling $653.4 million. That's a slight dip from the $664.4 million seen in fiscal year 2024, but you need to see the components to understand the pressure points.

The revenue generation is split across a few key channels. The primary driver remains wholesale sales to department stores and specialty retailers. Still, you're seeing a clear shift, with growth coming from international wholesale channels and online retail, while U.S. wholesale brick-and-mortar stores saw declines in the fourth quarter of fiscal 2025. Honestly, that divergence tells you where the consumer traffic is moving.

Direct-to-consumer sales from e-commerce and Company Stores also contribute to the revenue mix. To give you a concrete example of where that channel is performing, for the third quarter ending October 31, 2025, the Movado brand itself saw double-digit growth in its direct-to-consumer channels. That's a strong signal for future revenue mix optimization.

Here's a quick look at the key financial results for the full fiscal year 2025 compared to the prior year, so you can see the scale of the revenue and profitability:

Metric	Fiscal Year 2025 Amount	Fiscal Year 2024 Amount
Net Sales	$653.4 million	$664.4 million
Operating Income	$20.0 million	$48.5 million
Adjusted Operating Income	$27.1 million	Not explicitly stated in comparison

The profitability from these sales is also critical. Operating income of $20.0 million was reported for fiscal year 2025. That's a significant drop from the $48.5 million in the prior year, which management attributed partly to lower sales leverage and unfavorable mix changes.

The main revenue streams, broken down by channel focus, look like this:

• Wholesale sales to department stores and specialty retailers (largest segment).
• Direct-to-consumer sales from e-commerce platforms.
• Sales through Company Stores.
• International wholesale channel growth provided a partial offset to domestic softness.

Finance: draft 13-week cash view by Friday.