The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Movado Completes Acquisition of Millennial-Focused Brand
The company paid $100 million+ for MVMT Watches, a company started in 2013 by two 20-something college dropouts.
Paramus, N.J.—Movado Group now owns MVMT Watches Inc., the millennial-focused watch and accessory brand started by a pair of 20-something college dropouts.
Movado paid $100 million ($85 million net of tax benefits) upfront for Los Angeles-based MVMT and could pay as much as $100 million more depending on how MVMT performs financially under Movado ownership.
Southern California natives Jacob Kassan and Kramer LaPlante—who are now both in their mid-20s—started MVMT in 2013 after deciding they were going to quit school to launch their own business.
Their seed money was $300,000, raised through a pair of crowdfunding campaigns on Indiegogo.
The business was built primarily online and started out with just watches before adding sunglasses and other accessories last year.
Today, MVMT-brand products are sold in Nordstrom and Bloomingdales as well as on MVMTWatches.com, and the company’s sales totaled about $71 million last year, according to Movado.
Buying MVMT allows Movado to add a growing, successful millennial-focused brand with a strong digital presence to its stable. For MVMT, the acquisition allows it to tap into Movado’s global infrastructure and distribution network to expand into untapped categories, channels and geographies.
Movado announced its planned acquisition of MVMT in August.
It is the second brand targeting younger consumers snapped up by the Paramus, New Jersey-based watch design, sourcing and distribution company. Movado bought U.K. company Olivia Burton in 2017.
The Latest
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The announcement came as the company reported a 23 percent drop in production in Q1.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.