Movado
 | |
| Type | Public |
|---|---|
| Traded as | NYSE: MOV |
| Founded | La Chaux-de-Fonds, Switzerland (1881) |
| Founder(s) |
Achille Ditesheim Gedalio Grinberg (1983) |
| Headquarters | Paramus, New Jersey, United States |
| Key people | Efraim Grinberg, Chairman and CEO |
| Products | Watches |
| Revenue |
 US$460,857,000 (2009) |
| Operating income |
US$3,288,000 (2009) |
| Net income |
US$2,552,000 (2009) |
| Total assets |
US$440,000,000 (2009) |
| Website | movado.com |
Movado is originally a Swiss luxury watch company whose name is Esperanto for "movement", although the company's (incorrect) translation is "always in motion". The company, Movado Group, Inc., founded in 1983 by Cuban born Gedalio Grinberg, designs, manufactures, and distributes the following brands of watches - Movado, Ebel, Concord, ESQ by Movado, Coach, Hugo Boss, Lacoste, Juicy Couture and Tommy Hilfiger.
History
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 in 1960, fled Fidel Castro's Marxist Revolution 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
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
Movado commissioned "Time Sculpture" by architect Philip Johnson located outside Lincoln Center in New York City.[6]
References
- ↑ 's+Piaget+Business+to+VLG...-a053924240 "Movado Group, Inc. Completes Sale of Movado's Piaget Business to VLG North America, Inc.".
- ↑ 2.0 2.1 The Museum Watch: 1958, Industrial Designers Society of America. Accessed January 8, 2009.
- ↑ Cook, Joan. "Nathan Horwitt, 92; His Designs Included The Movado Watch ", The New York Times, June 20, 1990. Accessed January 8, 2009.
- ↑ "Wristwatch Face: Nathan George Horwitt (American, 1898-1990)", Museum of Modern Art. Accessed January 8, 2009.
- ↑ http://www.movado.com/
- ↑ http://www.nycgovparks.org/parks/M020/monuments/1818 nycgovparks.org