Movado Group paid an initial $100 million for millennial-focused watch and accessories brand MVMT, with as much as another $100 million to come. The five-year-old brand was started by two 20-something college dropouts and generated more than $70 million in sales last year.
New York—Here are five jewelry new stories from the week of Aug. 13 that are worth reading.

1. Company That Bought Tourneau Snaps Up Another US Retailer
Bucherer USA now owns Baron & Leeds, which has stores and Rolex boutiques in Hawaii and California.

2. Movado Buys Millennial-Targeted Brand for $100M
MVMT Watches was started in 2013 by two 20-somethings and has grown into a $70-million-a-year business.

3. NRF Predicts Greater Retail Growth in 2018
The National Retail Federation lifted its annual sales forecast from a 3.8 -4.4 percent gain to an increase of 4.5 percent, minimum.  

4. Md. Retailer Samuelson’s Opens Appointment-Only Location
Samuelson’s Diamonds announced that it is closing its downtown Baltimore store and shifting to an appointment-only model in a slightly larger space.  

5. This Editor’s Favorites from AGTA Spectrum Awards
Judging in the jewelry design contest recently took place in New York. Here are the 10 pieces Senior Editor Brecken Branstrator liked best.

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